This Salt Lake City, UT-based bank provides services primarily in Utah, California, Texas, Arizona, Nevada, Colorado, Idaho, Washington, and Oregon. The shares pay a small dividend, $0.16 per share, for a yield of 0.50%.
Zions Bank (ZION)
from Positive Patterns
Zions Bank (ZION) is the one to buy here. It’s very similar in size and growth potential as SunTrust Banks (STI). But right now, I would say ZION is a better buy, and it sells at book value (Ed. Note: currently about $30). Up to $32 (and anywhere below $30), I would recommend aggressive buying.
I think this will be a solid performer over the next three to five years and believe it will make a solid holding. Over that time period, the bank will see much higher earnings, and the stock, at around $30-32, has some decent-to-good upside.
Bob Howard, Positive Patterns, P.O. Box 310, Turners, MO 65765, 417-887-4486, February 18, 2014