On a more negative note, Zions Bancorporation's management said that the company's loan growth depended in part on aggressive price competition, which Miller said "does not bode well for the company's
Zions reported a second-quarter net interest margin -- the difference between a bank's average yield on loans and investment securities and its average cost for deposits and borrowings -- of 3.62%, declining from 3.73% the previous quarter, but unchanged from a year earlier.
Miller called Zions "an asset-sensitive bank that thrives in a rising rate environment," and said that "with rates likely to remain flat for the foreseeable future, we look to remain on the sidelines with regard to shares.
The analyst estimates that Zions Bancorporation will earn 98 cents a share for all of 2012, followed by 2013 EPS of $1.85.Interested in more on Zions Bancorporation? See TheStreet Ratings' report card for this stock.
Email. Follow @PhilipvanDoorn
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