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Zions Bancorporation (NASDAQ: ZION) is poised to release its financial results for the third quarter, with market participants eagerly awaiting the figures. Expectations from financial analysts point to a modest increase in earnings per share compared to the previous year, alongside a projected rise in quarterly revenue. This announcement follows a recent disclosure by the company regarding a significant provision for potential legal liabilities, which has influenced market sentiment. Various investment firms have consequently updated their outlooks and price targets for Zions Bancorp shares, indicating a dynamic landscape for the stock.

The banking institution, Zions Bancorporation, National Association, has scheduled its third-quarter earnings release for Monday, October 20, after the close of trading hours. Market consensus, compiled from projections by Benzinga Pro, estimates the company will achieve earnings of $1.40 per share, an increase from $1.37 per share reported in the same period last year. Furthermore, the forecasted revenue for the quarter stands at $842.34 million, surpassing the $804 million recorded a year ago.

In a notable development on October 15, Zions Bancorporation publicly acknowledged pending legal proceedings against two clients related to commercial and industrial loans issued by its California Bank & Trust division. As a result of these actions, the company has set aside a provision of approximately $60 million. This financial adjustment is a key factor analysts are considering in their evaluations.

Following these announcements, Zions Bancorp's stock experienced a positive movement, closing up 5.8% at $49.67 on the preceding Friday. The market's reaction suggests that investors are closely monitoring both the company's financial health and its responses to legal challenges.

Several prominent Wall Street analysts have recalibrated their ratings and price targets for Zions Bancorp in light of recent events. On October 17, Baird analyst David George elevated the stock's rating from 'Neutral' to 'Overweight', setting a new price target of $65. Conversely, Piper Sandler's Matthew Clark reaffirmed a 'Neutral' stance on October 16, albeit with a lowered price target from $62 to $59. Evercore ISI Group's Jon Pancari maintained an 'Outperform' rating on September 30, raising his price target to $64 from $62. Morgan Stanley's Manan Gosalia kept an 'Equal-Weight' rating but increased the price target from $63 to $70 on September 29. Lastly, Truist Securities analyst Jennifer Demba reiterated a 'Hold' rating on July 23, with an adjusted price target of $59, up from $57. These diverse adjustments highlight the varying analytical perspectives on Zions Bancorp's future trajectory.

As Zions Bancorporation prepares to unveil its third-quarter performance, the financial community remains focused on how the company's earnings will align with analyst expectations and how the provision for legal actions will impact its overall profitability. The collective revisions in analyst ratings and price targets underscore the ongoing assessment of the bank's operational resilience and its market valuation in a dynamic economic environment.