Zacks Equity Research, Chicago, has made Zions Bancorp., Salt Lake City, the Bear of the Day for Sept. 16. Among Zacks' concerns is Zions' commercial real estate exposure. "CRE represents over one-third of Zions overall loan portfolio. Continued weakness in the residential development and construction activity in the southwest has resulted in further deterioration of credit metrics in the past several quarters. Given the sluggish economic conditions, we expect credit to further deteriorate across the industry in the coming quarters."
Processing Content
