Barclays Cuts Estimates on Zions Bancorp (ZION); Q1 Results Fell Short

Barclays maintains an 'Equalweight' on Zions Bancorp (NASDAQ: ZION) price target of $25.00.

Analyst, Jason M. Goldberg, said, "Elevated margin pressure and a higher loan loss provision caused core results to come in short of expectations. Looking out, while it still anticipates a near zero loan loss provision, 2Q12 net interest income could be down linked quarter, as margin pressure is expected to continue and loan growth remains tepid. While its recent TARP repayment and NPA/NCO improvement are welcome developments, we still believe the share could see near-term pressure."

Barclays lowers FY12 EPS estimate from $1.45 to $1.27 and FY13 from $1.65 to $1.60.

For an analyst ratings summary and ratings history on Zions Bancorp click here. For more ratings news on Zions Bancorp click here.

Shares of Zions Bancorp closed at $20.81 yesterday.

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