Zions Bancorp (ZION)

While Zions Bancorp (ZION) net interest margin and deposit growth remain satisfactory, credit quality continues to deteriorate, necessitating high levels of loss provisions.

The company has been successful in enhancing capital ratios and making efforts on the cost control front, but the credit ratings agencies appear to be unimpressed. Ongoing weakness in the southwestern residential real estate markets, where the company has a significant exposure, continues to hurt the results.

Based on our concerns for further credit deterioration, particularly in the construction portfolio, we are maintaining our Underperform recommendation on the stock.

Zions Bancorp (ZION) : FULL ANALYST REPORT

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Zacks Blog: The Zacks Analyst Blog Highlights: JPMorgan Chase, Commerce Bancshares, Bank of America, Wells Fargo and Zions Bancorp
(JPM, CBSH, BAC, WFC, ZION)	02/08/12

Zacks Blog: JPMorgan to Return Overdraft Fees
(JPM, WFC, ZION, BAC, CBSH)	02/07/12

Zacks Blog: Zions Marginally Lags Estimates
(ZION, CYN)	01/24/12

Zacks Blog: CBSH to Return Overdraft Fees
(WFC, ZION, BAC, CBSH)	12/28/11

Zacks Blog: S&P Revises Regional Bank Ratings
(BBT, RF, PNC, USB, MTB, STI, HBAN, NTRS, KEY, PBCT, FNFG, SNV, ZION, CBSH, FHN)	12/07/11

Symbol	Price	Net	% Change	Zacks Rank	Zacks Rec
ZION	18.64	$0.07	0.38 %	PREMIUM	PREMIUM

DJIA	12884.56	0.61	0.00%
NASD	2922.99	7.13	0.24%
S&P 500	1351.33	1.37	0.10%

Zions Bancorp (ZION)

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