3. Zions Bancorporation
Shares of Zions Bancorporation (ZION) of Salt Lake City closed at $22.45 Wednesday, returning 75% year-to-date.Income Statement The company reported a third-quarter net loss to common shareholders of $80.5 million, or 47 cents a share, compared to a loss of $181.9 million, or $1.43 a share, a year earlier. Once again, the main driver of the earnings improvement was a reduced provision for loan loss reserves of $184.7 million, from $565.9 million during the third quarter of 2009. A very nice development for the company was loan originations totaling $2.4 billion during the third quarter, increasing from $480 million a year earlier. The net interest margin was 3.84% during the third quarter, compared 3.91% in the third quarter of 2009. Balance Sheet Total assets were $51.1 billion as of September 30, and the nonperforming assets ratio was 4.76%, declining from 4.90% in September 2009. The company owes $1.4 billion in TARP money and reported a Tier 1 leverage ratio of 12.00% and a total risk-based capital ratio of 16.54% as of September 30. The tangible common equity ratio was 7.03% and during the first three quarters of 2010 the company raised $515.3 million in common equity, according to SNL Financial. Stock Ratios The shares trade for 1.1 times tangible book value according to SNL. Analysts expect the company to return to profitability in the third quarter of 2011. The shares trade for 11.9 times the consensus earnings estimate of $1.88 for 2012 of $1.88 a share. Analyst Ratings Out of 28 analysts covering the shares, seven rate Zions Bancorporation a buy, 19 recommend investors hold the shares and two analysts recommend selling the shares.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV