Faring much better than Bank of America this year is Zions Bank (ZION). The Utah-based regional bank does not have nearly the bad loan exposure of BofA, and as a result its shares have held up relatively well in 2011. Year-to-date, Zion is down less than 5%.
Helping support share price is Zion's operating performance. In the latest quarter ended March 31, the company beat profit estimates by a solid 26 cents per share. Analysts had been forecasting a loss in the period, but the company managed to make 8 cents per share.For the full year, the average Wall Street estimate calls for Zion to make a profit of 45 cents per share. Reflecting the profit-making environment supported by the Federal Reserve, those profits jump nearly 300% to $1.78 per share next year. With shares trading for only 13 times 2012 estimates, Zion's is a stock to own. Zions shows up on a recent list of 5 Bank Stocks Analysts Are Upgrading.
Select the service that is right for you!COMPARE ALL SERVICES
- $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
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV