Zions Bancorporation, National Association (ZION) 10-Year Financial Performance & Capital Metrics

ZION • • Banking & Credit

Financial ServicesRegional BanksCommercial & Business BankingCommercial & Corporate Banking

AboutZions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services. As of December 31, 2020, it operated 422 branches, which included 273 owned and 149 leased. The company was formerly known as ZB, National Association and changed its name to Zions Bancorporation, National Association in September 2018. Zions Bancorporation, National Association was founded in 1873 and is headquartered in Salt Lake City, Utah.Show more

Net Interest Income $2.43B -0.3%
Total Revenue $4.99B +8.0%
Net Income $784M +15.3%
Return on Equity 13.27% +3.3%
Net Interest Margin 2.74% -2.1%
Efficiency Ratio 40.98% -9.6%
ROA 0.89% +15.8%
Equity / Assets 6.9% +5.7%
Book Value per Share 41.60 +8.0%
Tangible BV/Share 34.45 +9.9%
Debt/Equity 0.71 -10.7%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Strong Piotroski F-Score: 8/9
✓Efficient operations: 41.0% efficiency ratio
✓Healthy dividend yield of 2.8%
✓Trading near 52-week high
✓Trading at only 1.4x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y7.85%

5Y9%

3Y18.91%

TTM-

Profit (Net Income) CAGR

10Y7%

5Y-0.8%

3Y-11.45%

TTM22.77%

EPS CAGR

10Y11.21%

5Y3.54%

3Y-10%

TTM27.11%

ROCE

10Y Avg10.5%

5Y Avg11.55%

3Y Avg12.16%

Latest11.65%

Peer Comparison

Commercial & Corporate Banking

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
TCBITexas Capital Bancshares, Inc.	4.49B	98.37	76.85	-1.72%	4.4%	7.92%	9.27%	0.46
BANCBanc of California, Inc.	3.15B	20.87	40.13	24.65%	6.78%	6.01%	2.04%	0.67
DBDeutsche Bank AG	74.26B	38.87	28.37	11.78%	5.07%	7.18%		1.91
HTHHilltop Holdings Inc.	2.2B	35.83	20.59	2.5%	7.35%	7.2%	12.14%	0.61
SFBSServisFirst Bancshares, Inc.	4.28B	78.31	18.82	17.89%	23.26%	14.33%	5.8%	1.27
CMAComerica Incorporated	11.69B	91.51	18.23	-4.95%	13.98%	10.57%	3.83%	1.02
BOKFBOK Financial Corporation	8.08B	127.69	15.69	10.4%	15.57%	8.91%	15.59%	0.80
CNOBConnectOne Bancorp, Inc.	1.37B	27.26	15.49	6.06%	13.8%	3.98%	4.15%	0.63

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	1.72B	1.87B	2.06B	2.23B	2.27B	2.22B	2.21B	2.52B	2.44B	2.43B
NII Growth %	0.02%	0.09%	0.11%	0.08%	0.02%	-0.02%	-0%	0.14%	-0.03%	-0%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	1.83B	1.95B	2.19B	2.48B	2.68B	2.37B	2.27B	2.71B	3.95B	4.29B
Interest Expense	118M	87M	127M	251M	411M	152M	59M	185M	1.51B	1.86B
Loan Loss Provision	40M	93M	17M	-40M	39M	414M	-276M	122M	132M	72M
Non-Interest Income+	357M	516M	544M	552M	562M	574M	703M	632M	677M	700M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	2.19B	2.47B	2.74B	3.03B	3.25B	2.94B	2.97B	3.34B	4.62B	4.99B
Revenue Growth %	-0.07%	0.13%	0.11%	0.11%	0.07%	-0.09%	0.01%	0.12%	0.39%	0.08%
Non-Interest Expense	1.58B	1.58B	1.66B	1.68B	1.74B	1.7B	1.74B	1.88B	2.1B	2.05B
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	451M	705M	936M	1.14B	1.05B	672M	1.45B	1.15B	886M	1.01B
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.27%	0.56%	0.33%	0.22%	-0.08%	-0.36%	1.15%	-0.2%	-0.23%	0.14%
Pretax Income+	451M	705M	936M	1.14B	1.05B	672M	1.45B	1.15B	886M	1.01B
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	142M	236M	344M	259M	237M	133M	317M	245M	206M	228M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	309M	469M	592M	884M	816M	539M	1.13B	907M	680M	784M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.22%	0.52%	0.26%	0.49%	-0.08%	-0.34%	1.09%	-0.2%	-0.25%	0.15%
Net Income (Continuing)	309M	469M	592M	884M	816M	539M	1.13B	907M	680M	784M
EPS (Diluted)+	1.20	1.99	2.60	4.08	4.16	3.03	6.79	5.79	4.35	4.95
EPS Growth %	-0.3%	0.66%	0.31%	0.57%	0.02%	-0.27%	1.24%	-0.15%	-0.25%	0.14%
EPS (Basic)	1.20	2.00	2.71	4.36	4.41	3.06	6.80	5.80	4.35	4.95
Diluted Shares Outstanding	203.7M	204.27M	209.65M	206.5M	186.5M	165.61M	160.23M	150.27M	147.76M	147.22M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	6.91B	2.15B	1.33B	1.23B	1.45B	1.62B	10.88B	2B	2.2B	3.5B
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Total Investments+	48.79B	56.43B	60.24B	61.84B	62.65B	69.1B	74.89B	78.03B	77.77B	77.51B
Investments Growth %	0.1%	0.16%	0.07%	0.03%	0.01%	0.1%	0.08%	0.04%	-0%	-0%
Long-Term Investments	41.15B	43.06B	45.08B	47.1B	48.92B	53.37B	50.84B	66.12B	67.47B	68.38B
Accounts Receivables	0	0	0	0	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	1.01B	1.01B	1.01B	1.01B	1.01B	1.01B	1.01B	1.03B	1.03B	1.03B
Intangible Assets	16.27M	8.42M	2M	1M	0	2M	1M	38M	32M	25M
PP&E (Net)	905.46M	1.02B	1.09B	1.12B	1.14B	1.21B	1.32B	1.41B	1.4B	1.37B
Other Assets	1.59B	2.2B	2.24B	3.21B	2.58B	8.22B	4.78B	6.66B	4.39B	4.97B
Total Current Assets	14.99B	15.94B	16.86B	16.3B	15.51B	17.67B	35.25B	14.3B	12.89B	13.01B
Total Non-Current Assets	44.67B	47.3B	49.43B	52.45B	53.66B	63.81B	57.95B	75.25B	74.32B	75.77B
Total Assets+	59.66B	63.24B	66.29B	68.75B	69.17B	81.48B	93.2B	89.55B	87.2B	88.78B
Asset Growth %	0.04%	0.06%	0.05%	0.04%	0.01%	0.18%	0.14%	-0.04%	-0.03%	0.02%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	1.16B	1.36B	5.36B	6.38B	3.78B	2.91B	1.92B	11.07B	4.54B	4.37B
Net Debt	-5.75B	-786M	4.03B	5.14B	2.33B	1.29B	-8.96B	9.07B	2.34B	866M
Long-Term Debt	811.45M	534M	382M	724M	1.72B	1.33B	1.01B	647M	538M	946M
Short-Term Debt	346.99M	827M	4.98B	5.65B	2.05B	1.57B	903M	10.42B	4B	3.42B
Other Liabilities	623.58M	1.01B	629M	690M	958M	1.03B	1.03B	1.93B	2.01B	2.06B
Total Current Liabilities	50.72B	54.06B	57.6B	59.75B	59.14B	71.22B	83.69B	82.07B	78.96B	79.64B
Total Non-Current Liabilities	1.44B	1.54B	1.01B	1.41B	2.68B	2.37B	2.04B	2.58B	2.55B	3.01B
Total Liabilities	52.16B	55.6B	58.61B	61.17B	61.82B	73.59B	85.74B	84.65B	81.51B	82.65B
Total Equity+	7.51B	7.63B	7.68B	7.58B	7.35B	7.89B	7.46B	4.89B	5.69B	6.12B
Equity Growth %	0.02%	0.02%	0.01%	-0.01%	-0.03%	0.07%	-0.05%	-0.34%	0.16%	0.08%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.04%	0.06%	0.08%	0.12%	0.11%	0.07%	0.15%	0.15%	0.13%	0.13%
Book Value per Share	36.86	37.37	36.63	36.70	39.43	47.62	46.58	32.56	38.52	41.60
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	4.77B	4.72B	4.45B	3.81B	2.73B	2.69B	1.93B	1.75B	1.73B	1.74B
Additional Paid-in Capital	0	0	0	3.81B	0	0	0	0	0	0
Retained Earnings	1.97B	2.32B	2.81B	3.46B	4.01B	4.31B	5.17B	5.81B	6.21B	6.7B
Accumulated OCI	-54.61M	-122M	-139M	-4.06B	43M	325M	-80M	-3.11B	-2.69B	-2.38B
Treasury Stock	0	0	0	0	0	0	0	0	0	0
Preferred Stock	828.49M	710M	566M	566M	566M	566M	440M	440M	440M	66M

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	464M	596.07M	928M	1.18B	697M	719M	629M	1.47B	885M	1.15B
Operating CF Growth %	0.22%	0.28%	0.56%	0.27%	-0.41%	0.03%	-0.13%	1.34%	-0.4%	0.3%
Net Income	309.47M	469.05M	592M	884M	816M	539M	1.13B	907M	680M	784M
Depreciation & Amortization	86M	123.09M	179M	193M	188M	86M	-14M	110M	140M	124M
Deferred Taxes	-30M	-8M	154M	0	-2M	-58M	32M	-43M	-9M	-7M
Other Non-Cash Items	131M	61M	-26M	-66M	21M	385M	-388M	76M	189M	37M
Working Capital Changes	-57M	-75M	4M	139M	-353M	-259M	-158M	390M	-148M	177M
Cash from Investing+	-2.58B	-3.44B	-3.92B	-2.71B	375M	-12.2B	-11.58B	1.41B	2.37B	-1.64B
Purchase of Investments	-5.57B	-5.03B	-5.04B	-4.08B	-2.07B	-12.19B	-19.49B	-6.53B	-707M	-2.89B
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	318M	0	0
Other Investing	-520M	-2.08B	-2.12B	-1.94B	-1.96B	-4.64B	2.85B	-4.6B	-2.12B	-1.72B
Cash from Financing+	2.07B	2.78B	2.8B	1.6B	-981M	11.32B	11B	-2.81B	-3.2B	427M
Dividends Paid	-108M	-108M	-129M	-236M	-260M	-259M	-261M	-269M	-282M	-289M
Share Repurchases	-183M	-223M	-465M	-672M	-1.1B	-76M	-926M	-202M	-51M	-410M
Stock Issued	22M	25.07M	25M	20M	14M	8M	21M	9M	3M	10M
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	1000K	1000K	-1000K	-1000K	-1000K	1000K	-1000K	-1000K
Other Financing	2.53B	2.89B	-625M	1.47B	2.98B	12.56B	13.12B	-11.57B	3.3B	1.25B
Net Change in Cash+	-44M	-61M	-189M	66M	91M	-162M	52M	62M	59M	-65M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	841.94M	798.32M	737M	548M	614M	705M	543M	595M	657M	716M
Cash at End	798.32M	737.33M	548M	614M	705M	543M	595M	657M	716M	651M
Interest Paid	102M	83M	118M	237M	401M	195M	81M	160M	1.37B	1.91B
Income Taxes Paid	132M	214M	246M	207M	233M	169M	442M	21M	255M	192M
Free Cash Flow+	307M	400.4M	759M	1.05B	580M	548M	423M	1.28B	772M	1.05B
FCF Growth %	0.5%	0.3%	0.9%	0.38%	-0.45%	-0.06%	-0.23%	2.03%	-0.4%	0.36%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	4.15%	6.19%	7.73%	11.59%	10.93%	7.07%	14.71%	14.68%	12.85%	13.27%
Return on Assets (ROA)	0.53%	0.76%	0.91%	1.31%	1.18%	0.72%	1.29%	0.99%	0.77%	0.89%
Net Interest Margin	2.87%	2.95%	3.12%	3.24%	3.28%	2.72%	2.37%	2.81%	2.8%	2.74%
Efficiency Ratio	72.19%	64.17%	60.53%	55.36%	53.68%	57.92%	58.62%	56.28%	45.35%	40.98%
Equity / Assets	12.58%	12.07%	11.58%	11.02%	10.63%	9.68%	8.01%	5.46%	6.53%	6.9%
Book Value / Share	36.86	37.37	36.63	36.7	39.43	47.62	46.58	32.56	38.52	41.6
NII Growth	2.08%	8.86%	10.61%	7.99%	1.88%	-2.46%	-0.36%	14.13%	-3.25%	-0.33%
Dividend Payout	34.95%	23.03%	21.79%	26.7%	31.86%	48.05%	23.12%	29.66%	41.47%	31.63%

Revenue by Segment

	2018	2019	2020	2021	2022	2023	2024
Products And Services, Commercial Account Fees	-	-	-	134M	159M	174M	182M
Products And Services, Commercial Account Fees Growth	-	-	-	-	18.66%	9.43%	4.60%
Products And Services, Card Fees	-	-	-	135M	149M	146M	144M
Products And Services, Card Fees Growth	-	-	-	-	10.37%	-2.01%	-1.37%
Products And Services, Retail And Business Banking Fees	-	-	-	73M	73M	66M	67M
Products And Services, Retail And Business Banking Fees Growth	-	-	-	-	0.00%	-9.59%	1.52%
Products And Services, Wealth Management And Trust Fees	-	-	-	-	-	-	54M
Products And Services, Wealth Management And Trust Fees Growth	-	-	-	-	-	-	-
Products And Services, Capital Markets And Foreign Exchange Fees	-	-	-	9M	4M	-	11M
Products And Services, Capital Markets And Foreign Exchange Fees Growth	-	-	-	-	-55.56%	-	-
Products And Services, Other Customer-Related Fees	-	-	-	52M	59M	60M	-
Products And Services, Other Customer-Related Fees Growth	-	-	-	-	13.46%	1.69%	-
Products And Services, Wealth Management Fees	-	-	-	46M	51M	53M	-
Products And Services, Wealth Management Fees Growth	-	-	-	-	10.87%	3.92%	-
Zions Bank	-	-	808M	-	-	-	-
Zions Bank Growth	-	-	-	-	-	-	-
Amegy Corporation	-	-	618M	-	-	-	-
Amegy Corporation Growth	-	-	-	-	-	-	-
California Bank And Trust	-	-	608M	-	-	-	-
California Bank And Trust Growth	-	-	-	-	-	-	-
Consolidated Entities	2.78B	2.84B	-	-	-	-	-
Consolidated Entities Growth	-	1.98%	-	-	-	-	-

Frequently Asked Questions

Valuation & Price

Zions Bancorporation, National Association (ZION) has a price-to-earnings (P/E) ratio of 12.0x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Zions Bancorporation, National Association (ZION) grew revenue by 8.0% over the past year. This is steady growth.

Yes, Zions Bancorporation, National Association (ZION) is profitable, generating $852.0M in net income for fiscal year 2024 (15.7% net margin).

Dividend & Returns

Yes, Zions Bancorporation, National Association (ZION) pays a dividend with a yield of 2.83%. This makes it attractive for income-focused investors.

Zions Bancorporation, National Association (ZION) has a return on equity (ROE) of 13.3%. This is reasonable for most industries.

Industry Metrics

Zions Bancorporation, National Association (ZION) has a net interest margin (NIM) of 2.7%. NIM has been under pressure due to interest rate environment.

Zions Bancorporation, National Association (ZION) has an efficiency ratio of 41.0%. This is excellent, indicating strong cost control.

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