Keefe, Bruyette & Woods analyst Christopher McGratty reiterated a Market Perform rating and $75.00 price target on Zions Bancorp (NASDAQ: ZION).

The analyst commented: "Today's full c-suite meetings with ZION underscored a commitment to positive operating leverage, disciplined risk- adjusted growth, and building capital flexibility. With this, the stock trades spot in-line with SMID-cap peers with $50-$100B- in-assets (both 10.0x our 2027E), though we see an opportunity for valuation improvement over time as the company narrows the expected ROTCE gap to peers (13.2% vs. 16.1%, both 2027E). Our refreshed bull/bear (below) points to a fairly balanced risk/ reward and continues to support our Market Perform rating."

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Shares of Zions Bancorp closed at $67.87 yesterday.