Zions Bancorp. (ZION) is scheduled to release its 2Q09 earnings results on July 20, 2009, with a conference call later that evening.
Recently the company was downgraded by S&P and Fitch Ratings. Ongoing weakness in the southwestern residential real estate markets, where the company has a significant exposure, continues to hurt the results.
Ahead of 2Q09 results, we have lowered our EPS estimates, based on our concerns for further credit deterioration. We are maintaining our Sell recommendation on the shares.Zacks Investment Research
