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Zions Bancorporation N.A. (ZION)

Fair Value
Financial ServicesBanks - RegionalUnited States

Fundamental

77

Price

$66.20

Market Cap

$9.59B

Part 1 · What the company is worth

Overview

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments. It offers commercial and small business banking services to small- and medium-sized businesses, such as commercial, industrial, and owner-occupied lending and leasing; municipal and public finance services; depository account and cash management services; commercial and small business cards; merchant processing services; corporate trust services; and correspondent banking and international lending services. The company also provides capital markets and investment banking services, including loan syndications, foreign exchange services, interest rate derivatives, fixed income securities underwriting, mergers and acquisitions advisory services, advisory and capital raising, commercial mortgage-backed security conduit lending, and power and project financing; and commercial real estate lending services consisting of term and construction/land development financing for commercial and residential purposes. In addition, it offers retail banking services comprising residential mortgages lending, home equity lines of credit, personal lines of credit, installment consumer loans, depository account services, consumer cards, and personal trust services; and wealth management services consisting of investment management, fiduciary and estate, and advanced business succession and estate planning services. 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.

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Direct competitors

Who this company fights with for the same customers

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No competitor list for this company yet.

Balance Sheet & Liquidity

Revenue

$3.74B

Trailing 12 months (through 6/30/2026)

Net Income

$1.17B

Trailing 12 months (through 6/30/2026)

Free Cash Flow

$952M

Total Equity

$7.18B

Total Liabilities

$81.51B

Current Ratio

-

Interest Coverage

0.56

Debt/EBITDA

-

Earnings Per Share

Revenue & Net Income

Free Cash Flow

Income Breakdown

Historical statement

Margins over time

Debt over time

Growth grid

Growth — Revenue

Fair Value Estimation

BankFairly Valued

Fair Value

$82.68

Current Price

$66.20

Margin of Safety

+19.9%

Fair Value Range

$55.15 - $110.22

Spread across the valuation methods used, not a statistically calibrated confidence interval.

Estimation Methods

Analyst price target:$72.67
Discounted cash flow (DCF):Not applicable to this type of company
Earnings multiple (P/E):$72.85
Graham growth formula:Not applicable to this type of company
Earnings power value (EPV):Not applicable to this type of company
Justified P/B:$111.50
Dividend discount (Gordon):$35.50
P/FFO, funds from operations:Not applicable to this type of company
Mid-cycle earnings:Not applicable to this type of company
Revenue multiple:Not applicable to this type of company
Last Earnings Surprise:+4.74%

Valuation Metrics

P/E Ratio

8.43

ROE

12.5%

P/B Ratio

1.26

P/FCF

5.75

Gross Margin

-

ROIC

-

Profitability Radar

Value Creation (Economic Moat)

ROIC

-

WACC

10.4%

ROIC − WACC

-

Fundamental Analysis Criteria

Passed (15)

  • EPS shows upward trend
  • P/FCF 5.75
  • P/B ratio 1.26
  • Operating margin 40.2%
  • Positive free cash flow
  • CapEx intensity
  • Low reliance on intangibles
  • Price below Graham Number
  • ROE 16.1%
  • Earnings surprise, average 21.9%
  • PEG ratio 0.58
  • Earnings quality (operating cash flow / net income) 1.54
  • Share dilution -5.6%
  • Net margin trend 31.3% vs 26.0%
  • Piotroski F-Score 7/9

Failed (6)

  • Price CAGR 3.83%
  • Debt/equity ratio
  • Interest coverage
  • Return on tangible assets
  • DCF valuation (Fairly Valued)
  • Revenue growth 5Y 4.3%

Unavailable (5)

  • ROIC –
  • Gross margin –
  • Dividend payout –
  • Current ratio
  • Debt/EBITDA

Piotroski F-Score

7/9

Strong financial health

ROA > 0
Operating cash flow > 0
ΔROA > 0
Cash flow > net income
Leverage ↓
Current ratio ↑
No dilution
Gross margin ↑
Asset turnover ↑

Earnings Quality

1.54

High quality: earnings backed by cash

Share Dilution

-5.6%

Buying back shares. Shareholder friendly

Institutional Holdings

Governance

Executive Team

NameTitleAge
Mr. Harris Henry SimmonsChairman & CEO71
Mr. Scott J. McLeanPresident, COO & Director68
Mr. Robert Ryan RichardsExecutive VP & CFO48
Mr. Christopher KyriakakisExecutive VP & Chief Risk Officer53
Mr. Kenneth Jay CollinsExecutive VP and Chief Transformation & Operations Officer59
Ms. Margaret MayerExecutive VP & Chief Information Officer-
Dave RichesInterim Director of Investor Relations-
Mr. Eric LuceroExecutive VP & Chief Marketing Officer-
Ms. Christina MilesSenior VP & Director of Sales-
Mr. Scott A. LawExecutive VP & Chief Human Resources Officer59

Audit Risk

2

Board Risk

5

Compensation Risk

1

Shareholder Rights Risk

1

Documents

  • Annual Report (10-K)

    A yearly overview of the business, its financial results, and the risks it faces.

    Filed on 2026-02-24

    View document
  • Quarterly Report (10-Q)

    A snapshot of financial performance for the most recent three-month period.

    Filed on 2026-08-06

    View document
  • Current Report (8-K)

    An announcement of a major event, such as a leadership change or big news.

    Filed on 2026-10-19

    View document

via SEC EDGAR

Income History

via SEC EDGAR

Part 2 · The price and its context

This part shows how the price has behaved, not whether the company is worth owning. Inside: technical analysis, potential, historical drawdowns, gamma exposure.

Market Reaction Profile

How much ZION moves, measured on its daily prices.

VolatilityLow

More volatile than 11% of the tracked stocks (90-day volatility).

Volatility 30d
20.7%
Volatility 90d
21.6%
Beta vs S&P 500 (1y)
0.74Correlation 0.38
Max drawdown (12m)
-18.7%
ATR (14d, % of price)
2.05%

Earnings reactions

How ZION moved around its past quarterly results.

Next earnings release

No upcoming release on the calendar.

What usually happens

  • Over the last 12 releases the stock moved a median of 2.0% the next day, up or down.
  • Next-day moves: up 7, down 5 (out of 12).
  • Of the 5 releases that beat estimates, the stock fell the next day after 2.

Release history

DateWhen EPS est.EPS actualSurprise Gap 1 day5 days
Oct 19, 2026After the close1.651.78+8.0% +0.1% +2.3% n/a
Jul 20, 2026After the close1.853.05+65.3% -5.4% -4.0% -4.7%
Apr 20, 2026After the close1.451.56+7.3% -0.6% -1.6% -0.7%
Jan 20, 2026After the close1.591.76+10.4% +2.2% +4.2% +0.1%
Oct 20, 2025After the close1.441.48+2.8% +1.0% +1.4% +1.7%
Jul 21, 2025After the closen/an/an/a+2.5% +0.5% -2.2%
Apr 21, 2025After the closen/an/an/a-8.5% -1.1% +3.0%
Jan 21, 2025After the closen/an/an/a+0.3% -1.6% -2.1%
Oct 21, 2024After the closen/an/an/a+4.3% +6.2% +6.2%
Jul 22, 2024After the closen/an/an/a+7.8% +6.2% +4.7%
Apr 22, 2024Before the openn/an/an/a0.0% +3.5% +4.6%
Jan 22, 2024After the closen/an/an/a+0.5% -1.2% +3.7%

Release dates from SEC 8-K filings.

Updated 10/24/2026

Historical statistics for educational purposes only. They are not forecasts and not investment advice.

Price reaction to the news

Latest news on ZION and what the price did next.

Return of the stock minus return of SPY over the same days. A news item close to a price move did not necessarily cause it. Historical data for educational purposes only, not investment advice.

Latest News

Recent headlines for ZION.

  • 4/20/2026NEUTRAL
    Zions Bancorp Reports Q1 2026 Results: Full Earnings Call Transcript

    Zions Bancorp has released its Q1 2026 earnings call transcript. While the transcript provides a detailed account of the company's performance and outlook, it does not contain specific financial figures or forward-looking statements that would indicate a clear positive or negative shift in its valuation. Investors will need to review the transcript for qualitative insights into management's strategy, operational efficiency, and market positioning. The absence of immediate quantitative data suggests a neutral stance until further analysis of the call's content can be performed.

  • 4/17/2026POSITIVE
    How To Earn $500 A Month From Zions Bancorp Stock Ahead Of Q1 Earnings

    Zions Bancorp is set to announce its first-quarter earnings on April 20th. The article highlights a potentially attractive dividend yield, suggesting it could draw investor interest for capital appreciation. While specific earnings forecasts are not detailed, the focus on dividend yield implies a positive outlook for income-focused investors anticipating steady or increased payouts. This could signal a favorable environment for shareholders looking for consistent returns ahead of the earnings report.