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ZION Stock Risk & Deep Value Analysis

Zions Bancorporation NA

Financial Services • Banks - Regional

DVR Score

0.5

out of 10

Distressed

What You Need to Know About ZION Stock

We analyzed Zions Bancorporation NA using our deep value framework. Sign in to see our full verdict and DVR Score.

We ran ZION through our deep value framework — analyzing financial health, distress signals, competitive moat, and risk factors. Our risk assessment: Moderate. Here's what we found.

Updated Mar 24, 2026Run Fresh Analysis →

ZION Risk Analysis & Red Flags

Risk Matrix

Overall

Moderate

Financial

Low

Market

Medium

Competitive

Medium

Execution

Medium

Regulatory

High

Upcoming Risk Events

  • 📅

    Unexpected downturn in regional economies impacting loan quality

  • 📅

    Significant fluctuations in interest rates affecting Net Interest Income

  • 📅

    Increased competitive pressure from larger banks or fintechs

  • 📅

    Regulatory changes increasing compliance costs or capital requirements

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What Does Zions Bancorporation NA (ZION) Do?

Market Cap

$8.25B

Sector

Financial Services

Industry

Banks - Regional

Employees

9,286

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, 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, 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.

Visit Zions Bancorporation NA Website

Investment Thesis

Zions Bancorporation represents a value opportunity in the regional banking sector, trading below its fair value with solid earnings growth and a strategic acquisition to diversify and grow fee income. Shareholder-friendly capital allocation via buybacks and dividends, combined with a strong regional footprint, offers a stable investment with potential for modest capital appreciation and income, though not 10x growth potential.

Is ZION Stock Undervalued?

Zions Bancorporation operates in the mature, highly regulated regional banking sector, which inherently limits its potential for 10x growth. While Q4 2025 results showed strong 21.3% YoY earnings growth and the recent Basis Multifamily Finance acquisition (March 23, 2026) is a strategic positive to expand into a growth niche, these actions primarily support incremental value rather than disruptive, exponential expansion. The company remains a well-managed regional bank with solid fundamentals and shareholder returns (buybacks, dividends), but lacks the scalability and unique competitive advantage required to achieve outsized 10x returns within 3-5 years. Negative signals include significant insider selling by the President and ZION's underperformance against its industry benchmarks over the past year. The market environment for regional banks is not conducive to such aggressive growth.

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ZION Price Targets & Strategy

12-Month Target

$63.58

Bull Case

$75.00

Bear Case

$50.00

Valuation Basis

Based on analyst median price target and a modest multiple expansion from current 9.30x P/E.

Entry Strategy

Consider dollar-cost averaging between $52-$55, targeting dips towards recent support levels.

Exit Strategy

Take profit at $63.58 (median target) and partial profit at $75 (Morgan Stanley target). Stop loss at $48 to protect capital.

Portfolio Allocation

2-4% for moderate risk tolerance, given its regional bank stability and dividend yield.

Price Targets & Strategy

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Is ZION Financially Healthy?

Valuation

P/E Ratio

9.30

Forward P/E

9.07

Profitability

Gross Margin

100.00%

Net Margin

26.68%

EPS

$6.01

Balance Sheet

Current Ratio

0.86

Quick Ratio

0.85

Debt/Equity

0.67

Other

Beta (Volatility)

0.83

Dividend Yield

3.30%

Does ZION Have a Competitive Moat?

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Moat Rating

🛡️ Narrow

Moat Trend

Stable to slightly Expanding

Moat Sources

3 Identified

Switching CostsEfficient ScaleIntangible Assets

Zions benefits from established customer relationships, regulatory barriers to entry, and a broad regional footprint which creates switching costs and efficient scale. Its brand and operational efficiency contribute to this narrow moat, which is somewhat durable in the regional banking sector.

Moat Erosion Risks

  • Disruption from agile fintech startups offering specialized services
  • Aggressive expansion by larger national banks into regional markets
  • Increased rate volatility impacting Net Interest Margin management
  • Cybersecurity threats and data breaches eroding customer trust

ZION Competitive Moat Analysis

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ZION Market Intelligence

Sentiment & Insider Activity

Social Sentiment

Neutral (no specific data provided, typical for regional banks)

Institutional Sentiment

Neutral to Positive. Consensus is 'Hold' but Morgan Stanley upgraded to 'Overweight' with a $75 target, and institutional ownership is high at 76.84%.

Insider Activity (Form 4)

CEO Harris H. Simmons purchased 4,500 shares. President Scott J. Mclean sold 28,980 shares on February 2, 2026. A VP sold 1,519 shares. Total insider sales were $3.50 million in the last 90 days, largely outweighing CEO purchase in value.

Options Flow

Normal options activity (no specific data provided)

Earnings Intelligence

Next Earnings

2026-04-20

Surprise Probability

Medium

Historical Earnings Pattern

Q4 2025 results led to a +4.2% stock price reaction, suggesting positive market response to solid earnings.

Key Metrics to Watch

Net Interest Income (NII) and Net Interest Margin (NIM)Loan and deposit growth rates (especially commercial real estate and multifamily)Asset quality and credit loss provisionsNon-interest income growth, especially from the new Basis acquisitionForward guidance on NII, loan growth, and capital management

Competitive Position

Top Competitor

No specific 'best-in-class' competitor identified in the provided research, but ZION underperformed the 'US Banks industry' benchmark.

Market Share Trend

Stable in its core regional markets with efforts to expand in specific niches (e.g., multifamily lending) to counteract general industry underperformance.

Valuation vs Peers

Trading at a P/E of 9.30, which is below its historical average for regional banks, suggesting a potential discount to fair value and peers.

Competitive Advantages

  • Established regional presence across 11 Western states
  • Diversified customer base and loan portfolio
  • Expanding capabilities in agency multifamily lending through acquisition
  • Strong brand recognition and client relationships (Coalition Greenwich awards)

Market Intelligence

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What Could Drive ZION Stock Higher?

Near-Term (0-6 months)

  • Q1 2026 Earnings Report (Expected April 20, 2026)
  • Basis Multifamily Finance acquisition closing and integration (announced March 23, 2026)
  • Continued share buybacks as authorized for Q1 2026

Medium-Term (6-18 months)

  • Successful integration and ramp-up of Basis Multifamily Finance operations
  • Organic loan growth and deposit accumulation in Western states
  • Potential improvements in Net Interest Margin from interest rate environment

Long-Term (18+ months)

  • Expansion of regional market share through strategic acquisitions
  • Continued diversification of revenue streams beyond traditional lending
  • Leveraging technology for operational efficiency and customer experience

Catalysts & Growth Drivers

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What's the Bull Case for ZION?

  • Acceleration in Net Interest Income growth

  • Successful integration and revenue contribution from Basis acquisition

  • Improvement in overall market share trend vs. industry

  • Changes in credit quality metrics or non-performing assets

Bull Case Analysis

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Competing with ZION

See how Zions Bancorporation NA compares to related companies

CompanyMarket CapDVR ScoreP/ERevenueProfit MarginRev Growth

Zions Bancorporation NA

ZION

$8.3B0.59.3$3.4B26.7%0.0%

Bank of America Corp

BAC

$352.6B0.112.9$113.1B16.2%12.3%Compare →

JPMorgan Chase & Co.

JPM

1.5Compare →

Mastercard Inc

MA

0.8Compare →

Visa Inc

V

$585.4B1.428.8$10.9B50.2%14.6%Compare →

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FAQ

What is the DVR Score for Zions Bancorporation NA (ZION)?

As of March 24, 2026, Zions Bancorporation NA has a DVR Score of 0.5 out of 10, placing it in the "Distressed" category. This score is generated by our AI-powered deep value analysis framework that evaluates growth potential, financial health, competitive moat, and risk factors.

What is the market capitalization of Zions Bancorporation NA?

Zions Bancorporation NA's market capitalization is approximately $8.3B. The company operates in the Financial Services sector within the Banks - Regional industry.

What ticker symbol does Zions Bancorporation NA use?

ZION is the ticker symbol for Zions Bancorporation NA. The company trades on the NMS.

What is the risk level for ZION stock?

Our analysis rates Zions Bancorporation NA's overall risk as Moderate. This assessment considers execution risk, market risk, financial risk, competitive risk, and regulatory risk. For a full breakdown, see the risk analysis section above.

What is the P/E ratio of ZION?

Zions Bancorporation NA currently has a price-to-earnings (P/E) ratio of 9.3. This is below the market average, which could indicate the stock is undervalued or facing headwinds.

Does Zions Bancorporation NA pay a dividend?

Yes, Zions Bancorporation NA pays a dividend with a current yield of approximately 3.30%.

Is Zions Bancorporation NA's revenue growing?

Zions Bancorporation NA has reported revenue growth of 0.0%. Revenue has been declining, which warrants closer examination.

Is ZION stock profitable?

Zions Bancorporation NA has a profit margin of 26.7%. This indicates strong profitability.

How often is the ZION DVR analysis updated?

Our AI-powered analysis of Zions Bancorporation NA is refreshed regularly to incorporate the latest financial data, market conditions, and news. The most recent update was on March 24, 2026.

Important Disclaimer – Not Financial Advice

Deep Value Reports is an independent research platform for educational and informational purposes only. We are not financial advisors, investment advisors, or licensed professionals. The analysis, scores, and information provided on this page for ZION (Zions Bancorporation NA) should not be construed as personalized investment advice, a recommendation to buy or sell any security, or an offer to provide investment advisory services.

All investments involve risk, including the potential loss of principal. Past performance does not guarantee future results. Always conduct your own research, consider your financial situation, and consult with a qualified financial advisor before making any investment decisions.

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