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ZIONZions Bancorporation, National Association
$63.65$9.1B
Overview & Tools
OverviewChart Terminal ↗Visualize
Valuation & Forecasts
Valuation ModelsEstimatesDCF Model
Price & Analyst Data
Analyst TargetsPrice History
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Income StatementBalance SheetCash FlowRatios & Margins
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P/E HistoryRevenue HistoryEarnings HistoryDividend HistoryTotal Return
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ZION logo

Zions Bancorporation, National Association

ZION
NASDAQ · Regional Banks
$63.65
At close - Sep 22, 4:00 PM EDT - USD
Market Cap$9.29B
P/E10.6x
52W High$73.34
Volume1.39M
OverviewTerminalAnalysisFinancialsValuationEarningsBreakoutsOwnership
VCP Research Verdict2026Q1

Stagnant Margin Growth Masks Credit Portfolio Risks

Zions Bancorporation faces a challenging outlook as net interest income growth decelerates to 6.1% in 2026Q1, hampered by persistent funding cost pressures and a stagnant 0.8% net interest margin. While the bank maintains a conservative capital position with a...

GrowthMixed
ProfitabilityModerate
ValuationAttractive
TechnicalsWeak
Explore valuation models
MARKET ACTION

ZION price & volume

Price trend, volume and key moving averages

Launch Terminal
Loading chart...
Decision Checklist4 Core Signals

What matters now

The signals most likely to change the investment case.

01

Earnings momentum

10/12 Beats

EPS beat 10 of last 12 quarters

02

Valuation risk

-24% Peers

P/E is 24% below peer median

03

Market leadership

RS 61 · Avg

Average momentum (RS Rating: 61)

04

Weak Trend

Below 200DMA

Price < 200DMA

Next CatalystEstimated earnings · Oct 20
01

Build the investment case

Start with the evidence for owning the stock and the risks that can break the thesis.

EXECUTIVE THESIS

The Investment Case

Full Analysis
Fundamental Trajectory

Revenue growth appears to be losing momentum, with net interest income growth slowing to 6.1% in 2026Q1 from 8.9% in 2025Q4, while the efficiency ratio deteriorated to 47.5%.

Analyst Consensus+20.5% target
Hold(51 analysts)
17 Buy30 Hold4 Sell

The Bull Case

Upside Catalysts

Strong Earnings and Revenue Growth

Zions Bancorporation reported increased net interest income and net income in the first quarter of 2026, with earnings per share rising to $1.56. Projections suggest revenue could reach $3.8 billion by 2029, alongside a 31% net earnings growth in the fourth quarter of the previous year.

Share Buybacks and Capital Management

The company completed a $75 million share buyback in the first quarter of 2026, positively impacting earnings per share and capital management. This buyback activity, along with stable capital ratios, positions Zions to repurchase stock more consistently.

Loan Portfolio Strength and Net Interest Margins

Zions has benefited from strong net interest income expansion, with nearly double-digit year-over-year growth. The loan portfolio has seen moderate expansion, supported by strong credit demand, particularly in commercial lending, and a strategic transition into agency multifamily lending.

The Bear Case

Key Downside Risks

Market performance

Price History →

Trailing total returns as of 9/23/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).

YTD Return
ZION+9.76%
S&P 500 (^GSPC)+13.20%
1-Year Return
ZION+14.70%
S&P 500 (^GSPC)+15.98%
3-Year Return
ZION+101.94%
S&P 500 (^GSPC)+76.45%
5-Year Return
ZION+26.60%
S&P 500 (^GSPC)+69.17%
02

Test the fundamentals

Check whether operating performance supports the current valuation.

VALUATION & INTRINSIC VALUE

Valuation Scenarios

Valuation Analysis
Trailing P/E5Y High
10.4x
Forward P/EExpansion
7.9x
EV/EBITDA60th %ile
8.2x
FCF YieldCash Flow
10.7%

Valuation vs 5-Year History

Multiple Range
Metric
Current
5Y Median
Historical Range
Percentile
P/E
10.4x
9.7x
80th· High
EV/EBITDA
8.2x
7.8x
60th· Fair
Price/FCF
9.3x
8.4x
80th· High
Current Multiple
5Y Median (50th %ile)

Intrinsic Value Scenarios

DCF Projection
Bear$40.40-36.5%
Base (Fair)$70.17+7.6%
Bull$105.71+66.1%
$40.40 Bear$70.17 Base$105.71 Bull
Current Market Price: $63.65
Trades at a 9.3% discount to Base DCF ($70.17)
Open DCF & Valuation Models →Chart Terminal ↗

Growth & profitability

Annual revenue & EPS trend
Revenue
$3.39B+8.2% YoY
Net income
$899M+14.7% YoY
Free cash flow
$981M-6.7% YoY
Operating margin
23.8%+3.5 pts YoY
ROIC (TTM)8%
Avg ROIC 5Y-
ROE (TTM)13.5%
Piotroski Score7 / 9
Financial Statements →
03

Monitor what changed

Recent results and news deserve attention only when they alter the forward view.

OPERATING RESULTS

Recent Earnings

Earnings History
EPS Beat Rate10/12 (83%)
Revenue Beat Rate8/12 (67%)
QuarterEPS (Act vs Est)Revenue (Act vs Est)
Q3 2026Latest
Jul 20, 2026
$3.05+94.3%
vs $1.57
$878M+0.2%
vs $876M
Q2 2026
Apr 20, 2026
$1.56+9.9%
vs $1.42
$849M-0.8%
vs $856M
Q1 2026
Jan 20, 2026
$1.75+11.5%
vs $1.57
$891M+3.0%
vs $865M
Q4 2025
Oct 20, 2025
$1.54+5.5%
vs $1.46
$861M+2.1%
vs $843M
Historical baseline: 12 quarters analyzedGAAP / Adjusted
MARKET COVERAGE

Latest News

5 Stories
PRNewsWire·Sep 16, 2026
ZIONS CAPITAL MARKETS APPOINTS VINCE TOYE TO LEAD NEWLY ACQUIRED AGENCY MULTIFAMILY LENDING PLATFORM

SALT LAKE CITY, Sept. 16, 2026 /PRNewswire/ -- Zions Capital Markets, a subsidiary of Zions Bancorporation, N.A.

Seeking Alpha·Sep 15, 2026
Zions Bancorporation, National Association (ZION) Presents at Barclays 24th Annual Global Financial Services Conference Transcript

Zions Bancorporation, National Association (ZION) Presents at Barclays 24th Annual Global Financial Services Conference Transcript

247 Wallst·Sep 14, 2026
Here Are Monday’s Top Wall Street Analyst Research Calls: Accenture, Chime Financial, Crown Castle, Dick’s Sporting Goods, EchoStar Corporation, GE Vernova, Honeywell Aerospace, IREN Limited, and More

Wall Street analysts are reshuffling their bets ahead of a pivotal Fed rate decision, and the moves on stocks like Crown Castle, IREN Limited, and Accenture could signal bigger shifts ahead for your portfolio.

Defense World·Sep 12, 2026
Amundi Raises Stock Position in Zions Bancorporation, N.A. $ZION

Amundi increased its position in shares of Zions Bancorporation, N.A. (NASDAQ: ZION) by 415.2% during the undefined quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 189,013 shares of the bank's stock after buying an additional 152,328 shares during the period. Amundi owned

Filtered for Zions Bancorporation, National AssociationMore Headlines
04

Compare before deciding

Benchmark ZION against direct peers instead of judging its metrics in isolation.

Peers Comparison

Key metrics vs top competitors for Zions Bancorporation, National Association (ZION)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
ZION logoZIONZions Bancorporation, National AssociationCurrent
$63.65$9.29B10.598.21%18.18%13.51%2.81%
CFG logoCFGCitizens Financial Group, Inc.
$65.49$27.69B16.97-5.85%17.51%7.63%—
HBAN logoHBANHuntington Bancshares Incorporated
$15.69$31.7B11.2910.58%16.64%8.57%—
RF logoRFRegions Financial Corporation
$27.91$23.82B12.196.25%23.13%11.75%—
FITB logoFITBFifth Third Bancorp
$52.76$47.82B14.908.37%15.91%8.86%—
KEY logoKEYKeyCorp
$20.48$22.11B13.4769.31%28.68%10.12%—

Compare ZION vs Peers

Zions Bancorporation, National Association (ZION) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CFG

Most directly comparable listed peer for ZION.

Scale Benchmark

vs JPM

Larger-name benchmark to compare ZION against a more recognizable public peer.

Peer Set

Compare Top 5

vs CFG, HBAN, RF, FITB

05

Keep researching

Verify the primary filings, follow material updates, and answer the remaining questions.

ZION SEC Filings & Documents

Zions Bancorporation, National Association (ZION) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Jul 20, 2026·SEC

Material company update

Jun 2, 2026·SEC

Material company update

May 4, 2026·SEC

10-K Annual Reports

2
FY 2026

Feb 24, 2026·SEC

FY 2025

Feb 25, 2025·SEC

10-Q Quarterly Reports

6
FY 2026

May 7, 2026·SEC

FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 7, 2025·SEC

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ZION Frequently Asked Questions

Zions Bancorporation, National Association (ZION) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
How fast is Zions Bancorporation, National Association growing?

Zions Bancorporation, National Association (ZION) grew revenue by 8.2% over the past year. This is steady growth.

Is ZION profitable?

Yes, Zions Bancorporation, National Association (ZION) is profitable, generating $962.0M in net income for fiscal year 2025 (18.2% net margin).

Dividend & Returns
Does ZION pay dividends?

Yes, Zions Bancorporation, National Association (ZION) pays a dividend with a yield of 2.81%. This makes it attractive for income-focused investors.

What is ZION's return on equity?

Zions Bancorporation, National Association (ZION) has a return on equity (ROE) of 13.5%. This is reasonable for most industries.

Industry Metrics
What is Zions Bancorporation, National Association's net interest margin?

Zions Bancorporation, National Association (ZION) has a net interest margin (NIM) of 3.0%. NIM has been under pressure due to interest rate environment.

What is Zions Bancorporation, National Association's efficiency ratio?

Zions Bancorporation, National Association (ZION) has an efficiency ratio of 43.3%. This is excellent, indicating strong cost control.

What if you invested $1,000 in ZION back in 1996?

Total return calculator · dividends reinvested · 30+ years of data

See returns →