** Zions Bancorporation ZION.O shares rising 2.4% on Monday ahead of qtrly results after the bell, as investors watch for new signs of strain across U.S. regional banks

** Last week, regional bank stocks seesawed sharply after ZION disclosed losses tied to two loans and Western Alliance WAL.N initiated a lawsuit alleging fraud by Cantor Group V, LLC. Cantor has denied the allegations

** Investors are now closely watching upcoming results from regional banks amid concerns about quality of commercial credit

** Analysts expect ZION qtrly revenue up 6% at $843.1 mln, with adjusted EPS seen at $1.41 vs $1.37 yr-ago, per LSEG

** Following slump last week, ZION stock now down about 6% YTD, lagging Nasdaq .IXIC, which is up 19%

** Stock recently at 9x expected earnings, just below its five-year avg forward PE of 10

(Reporting by Noel Randewich)

((noel.randewich@thomsonreuters.com))