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Zions Bancorporation National Association

DB:ZB1
Snowflake Description

Flawless balance sheet established dividend payer.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ZB1
DB
$8B
Market Cap
  1. Home
  2. DE
  3. Banks
Company description

Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The last earnings update was 13 days ago. More info.


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ZB1 Share Price and Events
7 Day Returns
-1.8%
DB:ZB1
-0.4%
DE Banks
0.3%
DE Market
1 Year Returns
-17.9%
DB:ZB1
-25.7%
DE Banks
-11.6%
DE Market
ZB1 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Zions Bancorporation National Association (ZB1) -1.8% -5.4% -9.7% -17.9% 67.6% 96.7%
DE Banks -0.4% -7.4% 6% -25.7% -5.3% -26.9%
DE Market 0.3% -3.8% 2.5% -11.6% 10.1% 7.9%
1 Year Return vs Industry and Market
  • ZB1 outperformed the Banks industry which returned -25.7% over the past year.
  • ZB1 underperformed the Market in Germany which returned -11.6% over the past year.
Price Volatility
ZB1
Industry
5yr Volatility vs Market

Value

 Is Zions Bancorporation National Association undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Zions Bancorporation National Association to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Zions Bancorporation National Association.

DB:ZB1 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model Excess Returns Model
Stable EPS Weighted future Return on Equity estimates from 20 analysts.
= Stable Book Value * Return on Equity
= $42.43 * 12.1%
$5.14
Book Value of Equity per Share Weighted future Book Value estimates from 17 analysts. $42.43
Discount Rate (Cost of Equity) See below 6%
Perpetual Growth Rate 10-Year DE Government Bond Rate 0.2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for DB:ZB1
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year DE Govt Bond Rate 0.2%
Equity Risk Premium S&P Global 6%
Banks Unlevered Beta Simply Wall St/ S&P Global 0.59
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.586 (1 + (1- 21%) (78.67%))
0.967
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.97
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 0.23% + (0.967 * 5.96%)
5.99%

Discounted Cash Flow Calculation for DB:ZB1 using Excess Returns Model Model

The calculations below outline how an intrinsic value for Zions Bancorporation National Association is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.

In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.

The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.

Note the calculations below are per share.

See our documentation to learn about this calculation.

DB:ZB1 Value of Excess Returns
Calculation Result
Excess Returns = (Stable Return on equity – Cost of equity) (Book Value of Equity per share)
= (12.1% – 5.99%) * $42.43)
$2.60
Terminal Value of Excess Returns = Excess Returns / (Cost of Equity - Expected Growth Rate)
= $2.60 / (5.99% - 0.23%)
$45.08
Value of Equity = Book Value per share + Terminal Value of Excess Returns
= $42.43 + $45.08
$87.51
DB:ZB1 Discount to Share Price
Calculation Result
Non-primary Listing Adjustment Factor 1 share in DB:ZB1 represents 0.89811x of NasdaqGS:ZION
(This could be a different class, a depositary receipt, a different currency, or all of these things.)
0.89811x
Value per Share
(Listing Adjusted, EUR)
= Value per Share (USD) x Listing Adjustment Factor
= $ 87.51 x 0.89811
€78.60
Value per share (EUR) From above. €78.60
Current discount Discount to share price of €40.33
= -1 x (€40.33 - €78.60) / €78.60
48.7%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Zions Bancorporation National Association is available for.
Intrinsic value
49%
Share price is €40.33 vs Future cash flow value of €78.6
Current Discount Checks
For Zions Bancorporation National Association to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Zions Bancorporation National Association's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Zions Bancorporation National Association's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Zions Bancorporation National Association's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Zions Bancorporation National Association's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
DB:ZB1 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-03-31) in USD $4.30
NasdaqGS:ZION Share Price ** NasdaqGS (2019-05-21) in USD $44.9
Germany Banks Industry PE Ratio Median Figure of 6 Publicly-Listed Banks Companies 15.85x
Germany Market PE Ratio Median Figure of 423 Publicly-Listed Companies 20.29x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Zions Bancorporation National Association.

DB:ZB1 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NasdaqGS:ZION Share Price ÷ EPS (both in USD)

= 44.9 ÷ 4.30

10.44x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Zions Bancorporation National Association is good value based on earnings compared to the DE Banks industry average.
  • Zions Bancorporation National Association is good value based on earnings compared to the Germany market.
Price based on expected Growth
Does Zions Bancorporation National Association's expected growth come at a high price?
Raw Data
DB:ZB1 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 10.44x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts
0.9%per year
Europe Banks Industry PEG Ratio Median Figure of 114 Publicly-Listed Banks Companies 0.79x
Germany Market PEG Ratio Median Figure of 272 Publicly-Listed Companies 1.5x

*Line of best fit is calculated by linear regression .

DB:ZB1 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 10.44x ÷ 0.9%

11.76x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Zions Bancorporation National Association is poor value based on expected growth next year.
Price based on value of assets
What value do investors place on Zions Bancorporation National Association's assets?
Raw Data
DB:ZB1 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-03-31) in USD $38.47
NasdaqGS:ZION Share Price * NasdaqGS (2019-05-21) in USD $44.9
Germany Banks Industry PB Ratio Median Figure of 6 Publicly-Listed Banks Companies 0.92x
Germany Market PB Ratio Median Figure of 576 Publicly-Listed Companies 1.79x
DB:ZB1 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NasdaqGS:ZION Share Price ÷ Book Value per Share (both in USD)

= 44.9 ÷ 38.47

1.17x

* Primary Listing of Zions Bancorporation National Association.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Zions Bancorporation National Association is overvalued based on assets compared to the DE Banks industry average.
X
Value checks
We assess Zions Bancorporation National Association's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Banks industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Banks industry average (and greater than 0)? (1 check)
  5. Zions Bancorporation National Association has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Zions Bancorporation National Association expected to perform in the next 1 to 3 years based on estimates from 20 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
0.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Zions Bancorporation National Association expected to grow at an attractive rate?
  • Zions Bancorporation National Association's earnings growth is expected to exceed the low risk savings rate of 0.2%.
Growth vs Market Checks
  • Zions Bancorporation National Association's earnings growth is positive but not above the Germany market average.
  • Zions Bancorporation National Association's revenue growth is positive but not above the Germany market average.
Annual Growth Rates Comparison
Raw Data
DB:ZB1 Future Growth Rates Data Sources
Data Point Source Value (per year)
DB:ZB1 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 20 Analysts 0.9%
DB:ZB1 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 20 Analysts 2.5%
Germany Banks Industry Earnings Growth Rate Market Cap Weighted Average 13.4%
Europe Banks Industry Revenue Growth Rate Market Cap Weighted Average 4.1%
Germany Market Earnings Growth Rate Market Cap Weighted Average 13%
Germany Market Revenue Growth Rate Market Cap Weighted Average 4.9%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
DB:ZB1 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
All numbers in USD Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
DB:ZB1 Future Estimates Data
Date (Data in USD Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 940
2021-12-31 3,056 846 4
2020-12-31 2,991 836 15
2019-12-31 2,921 845 15
DB:ZB1 Past Financials Data
Date (Data in USD Millions) Revenue Cash Flow Net Income *
2019-03-31 2,807 859 820
2018-12-31 2,821 1,176 845
2018-09-30 2,789 950 743
2018-06-30 2,735 790 681
2018-03-31 2,707 822 648
2017-12-31 2,585 928 546
2017-09-30 2,519 984 553
2017-06-30 2,458 970 518
2017-03-31 2,360 770 455
2016-12-31 2,290 596 407
2016-09-30 2,224 493 372
2016-06-30 2,161 493 339

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Zions Bancorporation National Association's earnings are expected to grow by 0.9% yearly, however this is not considered high growth (20% yearly).
  • Zions Bancorporation National Association's revenue is expected to grow by 2.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
DB:ZB1 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below

All data from Zions Bancorporation National Association Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:ZB1 Future Estimates Data
Date (Data in USD Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 6.15 6.15 6.15 1.00
2021-12-31 5.27 5.50 5.07 5.00
2020-12-31 4.78 5.00 4.57 26.00
2019-12-31 4.49 4.60 4.33 26.00
DB:ZB1 Past Financials Data
Date (Data in USD Millions) EPS *
2019-03-31 4.30
2018-12-31 4.36
2018-09-30 3.79
2018-06-30 3.44
2018-03-31 3.25
2017-12-31 2.72
2017-09-30 2.74
2017-06-30 2.55
2017-03-31 2.24
2016-12-31 2.00
2016-09-30 1.82
2016-06-30 1.66

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Zions Bancorporation National Association is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Zions Bancorporation National Association's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Germany market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Zions Bancorporation National Association has a total score of 1/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Zions Bancorporation National Association performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Zions Bancorporation National Association's growth in the last year to its industry (Banks).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Zions Bancorporation National Association has delivered over 20% year on year earnings growth in the past 5 years.
  • Zions Bancorporation National Association's 1-year earnings growth is less than its 5-year average (26.5% vs 27.1%)
  • Zions Bancorporation National Association's earnings growth has exceeded the DE Banks industry average in the past year (26.5% vs 5.4%).
Earnings and Revenue History
Zions Bancorporation National Association's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Zions Bancorporation National Association Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

DB:ZB1 Past Revenue, Cash Flow and Net Income Data
Date (Data in USD Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-03-31 2,807.00 820.00 1,424.00
2018-12-31 2,821.00 845.00 1,406.00
2018-09-30 2,789.00 743.00 1,384.00
2018-06-30 2,735.00 681.00 1,377.00
2018-03-31 2,707.00 648.00 1,347.00
2017-12-31 2,585.00 546.00 1,344.00
2017-09-30 2,519.00 553.00 1,338.00
2017-06-30 2,458.00 518.00 1,325.00
2017-03-31 2,360.00 455.00 1,323.00
2016-12-31 2,290.00 407.00 1,306.00
2016-09-30 2,223.77 372.04 1,288.29
2016-06-30 2,160.83 339.28 1,283.04
2016-03-31 2,024.29 248.18 1,293.14
2015-12-31 2,032.00 245.00 1,291.00
2015-09-30 2,035.93 222.01 1,296.85
2015-06-30 2,090.41 216.90 1,301.31
2015-03-31 2,267.50 322.49 1,283.88
2014-12-31 2,270.79 323.40 1,278.54
2014-09-30 2,169.90 197.36 1,259.18
2014-06-30 2,125.65 327.94 1,240.49
2014-03-31 2,107.90 278.84 1,230.61
2013-12-31 2,120.87 290.97 1,223.16
2013-09-30 2,183.97 387.35 1,208.65
2013-06-30 2,205.96 239.97 1,198.14
2013-03-31 2,172.32 239.80 1,189.16
2012-12-31 2,137.58 176.96 1,185.83
2012-09-30 2,204.63 186.08 1,186.08
2012-06-30 2,216.44 188.92 1,178.22

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Zions Bancorporation National Association has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Zions Bancorporation National Association used its assets more efficiently than the DE Banks industry average last year based on Return on Assets.
  • Unable to establish if Zions Bancorporation National Association improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.
X
Past performance checks
We assess Zions Bancorporation National Association's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Banks industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Zions Bancorporation National Association has a total score of 3/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Zions Bancorporation National Association's financial position? (This company is analysed differently as a bank or financial institution)

This company is a bank or financial institution.

Fundamentally a bank's business is based upon borrowing and lending money, for this reason they typically have high levels of debt and we analyse them differently.
Net Worth
Balance sheet
This treemap shows a more detailed breakdown of Zions Bancorporation National Association's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Zions Bancorporation National Association Company Filings, last reported 1 month ago.

DB:ZB1 Past Debt and Equity Data
Date (Data in USD Millions) Total Equity Total Debt Cash & Short Term Investments
2019-03-31 7,588.00 6,449.00 2,074.00
2018-12-31 7,578.00 6,416.00 2,542.00
2018-09-30 7,553.00 4,735.00 1,866.00
2018-06-30 7,621.00 4,611.00 1,960.00
2018-03-31 7,644.00 5,306.00 2,054.00
2017-12-31 7,679.00 5,399.00 2,030.00
2017-09-30 7,761.00 5,042.00 1,872.00
2017-06-30 7,749.00 4,763.00 2,182.00
2017-03-31 7,730.00 3,576.00 2,785.00
2016-12-31 7,634.00 1,421.00 2,895.00
2016-09-30 7,679.31 1,797.88 3,955.00
2016-06-30 7,626.38 1,096.72 3,606.93
2016-03-31 7,625.74 1,139.11 5,335.31
2015-12-31 7,507.52 1,231.92 7,652.51
2015-09-30 7,638.10 1,303.51 8,664.42
2015-06-30 7,530.18 1,338.31 9,962.86
2015-03-31 7,454.30 1,374.04 9,188.13
2014-12-31 7,369.53 1,402.57 9,543.35
2014-09-30 7,322.16 1,361.51 8,519.54
2014-06-30 6,700.09 2,248.11 8,362.73
2014-03-31 6,586.22 2,501.13 9,992.96
2013-12-31 6,464.56 2,682.32 9,733.10
2013-09-30 6,332.81 2,643.73 9,858.66
2013-06-30 6,860.33 2,489.50 9,683.81
2013-03-31 6,350.65 2,765.07 9,163.93
2012-12-31 6,048.64 2,755.26 10,711.36
2012-09-30 5,918.26 2,882.77 8,646.65
2012-06-30 6,489.36 3,140.54 9,209.35
BANK ANALYSIS

This company is a bank or financial institution, which is analysed accordingly below.

Below we check the amount of loans the bank has, how many of those are bad, and its ability to cover any bad loans.
  • Zions Bancorporation National Association has an acceptable proportion of non-loan assets held.
  • Zions Bancorporation National Association's liabilities are made up of primarily low risk sources of funding.
  • Loans at Zions Bancorporation National Association are broadly funded by customer deposits.
  • Zions Bancorporation National Association's level of assets compared to its equity is low (i.e. an appropriate level of borrowing to fund lending).
  • Zions Bancorporation National Association has a sufficient allowance for bad loans.
  • Zions Bancorporation National Association has an acceptable level of bad loans (less than 2%).
X
Financial health checks
We assess Zions Bancorporation National Association's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Zions Bancorporation National Association has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Zions Bancorporation National Association's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
2.67%
Current annual income from Zions Bancorporation National Association dividends. Estimated to be 3.19% next year.
If you bought €2,000 of Zions Bancorporation National Association shares you are expected to receive €53 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Zions Bancorporation National Association's pays a higher dividend yield than the bottom 25% of dividend payers in Germany (1.46%).
  • Zions Bancorporation National Association's dividend is below the markets top 25% of dividend payers in Germany (3.86%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
DB:ZB1 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 20 Analyst Estimates (S&P Global) See Below
Germany Banks Industry Average Dividend Yield Market Cap Weighted Average of 6 Stocks 3%
Germany Market Average Dividend Yield Market Cap Weighted Average of 326 Stocks 3.2%
Germany Minimum Threshold Dividend Yield 10th Percentile 0.8%
Germany Bottom 25% Dividend Yield 25th Percentile 1.5%
Germany Top 25% Dividend Yield 75th Percentile 3.9%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

DB:ZB1 Future Dividends Estimate Data
Date (Data in $) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 1.88 1.00
2021-12-31 1.68 5.00
2020-12-31 1.50 22.00
2019-12-31 1.29 22.00
DB:ZB1 Past Annualized Dividends Data
Date (Data in $) Dividend per share (annual) Avg. Yield (%)
2019-04-26 1.200 2.516
2019-02-01 1.200 2.479
2018-10-26 1.200 2.643
2018-07-26 1.200 2.332
2018-04-26 0.960 1.743
2018-01-26 0.800 1.484
2017-10-27 0.640 1.295
2017-07-20 0.480 1.064
2017-04-27 0.320 0.763
2017-01-27 0.320 0.749
2016-10-28 0.320 0.804
2016-07-22 0.320 1.071
2016-04-29 0.240 0.906
2016-02-05 0.240 1.009
2015-10-30 0.240 0.911
2015-07-16 0.240 0.827
2015-04-20 0.240 0.799
2015-01-23 0.160 0.604
2014-10-27 0.160 0.577
2014-07-18 0.160 0.561
2014-04-28 0.160 0.549
2014-01-29 0.160 0.528
2013-10-25 0.160 0.546
2013-07-26 0.160 0.559
2013-04-19 0.160 0.582
2013-02-07 0.040 0.163
2012-11-13 0.040 0.187
2012-08-09 0.040 0.195
2012-05-07 0.040 0.212
2012-02-08 0.040 0.199
2011-11-09 0.040 0.242
2011-08-10 0.040 0.245
2011-05-12 0.040 0.178
2011-02-08 0.040 0.169
2010-10-29 0.040 0.177
2010-07-23 0.040 0.193
2010-04-23 0.040 0.167
2010-01-29 0.040 0.191
2009-10-30 0.040 0.282
2009-07-22 0.040 0.246
2009-07-20 0.040 0.355

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been stable in the past 10 years.
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Zions Bancorporation National Association's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3.8x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.2x coverage).
X
Income/ dividend checks
We assess Zions Bancorporation National Association's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.8%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Zions Bancorporation National Association afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Zions Bancorporation National Association has a total score of 5/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Zions Bancorporation National Association's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Harris Simmons
COMPENSATION $4,363,039
AGE 64
TENURE AS CEO 29.3 years
CEO Bio

Mr. Harris Henry Simmons has been the Chief Executive Officer of Zions Bancorporation since 1990 and served as its President. Mr. Simmons served as the Principal Executive Officer of Zions Financial Corp. He served as a Principal Executive Officer of Zions First National Bank and also served as its Officer since 1981. He has served in a variety of positions at Zions and Zions First National Bank for more than 35 years, including Chief Financial Officer. Mr. Simmons serves as the Chairman of both ZFNB Asset Fund, Inc., Economic Development Corporation of Utah and NSB Asset Fund, Inc. He has been the Chairman ofZions Bancorporation since 2002. Mr. Simmons has been the Chairman of ZB, National Association (formerly Zions First National Bank), a subsidiary of Zions Bancorp. since 2002. He serves as Chairman of the Utah Symphony. He served as the Chairman and Member of American Bankers Association until October 2006. He has been a Trustee of Simmons Family Foundation ( also known as Simmons Media Group Inc.) since 1977. He serves as a Director of O. C. Tanner Company, National Life Group and PPS Data, LLC. He has been a Director of Dominion Midstream GP LLC - General Partner of Dominion Midstream Partners, LP since October 29, 2016 and National Life Insurance Company since 2007. He has been a Director at Zions Bancorporation since 1989. He serves as Director at National Life Holding Company. Mr. Simmons served as Lead Director at Dominion Questar Corporation (formerly Questar Corporation) since 2013 until September 16, 2016 and an Independent Director since 1992 until September 16, 2016. He served as a Director of The Commerce Bank of Washington, National Association. He served as a Director of National Bank of Arizona. He served as Director of Amegy Bank, National Association. He served as a Director of Questar Gas Company, Nevada State Bank and Zions Financial Corp. He is active in community affairs in the Salt Lake City area. He is a Member of the Financial Services Roundtable. He serves as President of the Shelter-the-Homeless Committee and Chairs the capital campaign for the Great Salt Lake Council of The Boy Scouts of America. Mr. Simmons holds B.A. degree, magna cum laude in Economics from the University of Utah and an M.B.A. Degree from Harvard Business School, emphasis in Finance.

CEO Compensation
  • Harris's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Harris's remuneration is about average for companies of similar size in Germany.
Management Team Tenure

Average tenure and age of the Zions Bancorporation National Association management team in years:

10.3
Average Tenure
61
Average Age
  • The average tenure for the Zions Bancorporation National Association management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Harris Simmons

TITLE
Chairman & CEO
COMPENSATION
$4M
AGE
64
TENURE
29.3 yrs

Scott McLean

TITLE
President
COMPENSATION
$2M
AGE
61
TENURE
5.2 yrs

Paul Burdiss

TITLE
Executive VP & CFO
COMPENSATION
$2M
AGE
52
TENURE
4 yrs

David Blackford

TITLE
Executive Vice President
COMPENSATION
$2M
AGE
69
TENURE
18.3 yrs

Ed Schreiber

TITLE
Executive VP & Chief Risk Officer
COMPENSATION
$2M
AGE
59
TENURE
6.1 yrs

Jennifer Smith

TITLE
Executive VP & Chief Information Officer
AGE
45
TENURE
3.5 yrs

James Abbott

TITLE
Senior VP of Investor Relations & External Communications
AGE
45
TENURE
10.3 yrs

Thomas Laursen

TITLE
Executive VP
AGE
66
TENURE
15.3 yrs

Alvin Lee

TITLE
Senior VP & Director of Corporate Development
TENURE
12.3 yrs

Dianne James

TITLE
Executive VP & Chief Human Resources Officer
AGE
64
Board of Directors Tenure

Average tenure and age of the Zions Bancorporation National Association board of directors in years:

4.5
Average Tenure
64.5
Average Age
  • The tenure for the Zions Bancorporation National Association board of directors is about average.
Board of Directors

Scott McLean

TITLE
President
COMPENSATION
$2M
AGE
61
TENURE
0.7 yrs

Stephen Quinn

TITLE
Lead Director
COMPENSATION
$206K
AGE
62
TENURE
2.3 yrs

Harris Simmons

TITLE
Chairman & CEO
COMPENSATION
$4M
AGE
64
TENURE
17.1 yrs

David Heaney

TITLE
Director
COMPENSATION
$205K
AGE
69
TENURE
13.4 yrs

Ed Murphy

TITLE
Director
COMPENSATION
$202K
AGE
65
TENURE
4.8 yrs

Vivian Lee

TITLE
Director
COMPENSATION
$170K
AGE
51
TENURE
4.2 yrs

Gary Crittenden

TITLE
Director
COMPENSATION
$189K
AGE
65
TENURE
2.8 yrs

Jerry Atkin

TITLE
Director
COMPENSATION
$186K
AGE
69
TENURE
26.3 yrs

Roger Porter

TITLE
Director
COMPENSATION
$166K
AGE
71
TENURE
26.3 yrs

Suren Gupta

TITLE
Director
COMPENSATION
$171K
AGE
57
TENURE
4.2 yrs
Who owns this company?
Recent Insider Trading
  • Zions Bancorporation National Association insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (€) Value (€)
14. May 19 Sell Aldon Anderson Individual 13. May 19 13. May 19 -10,000 €42.16 €-420,380
13. May 19 Sell Edward Schreiber Individual 09. May 19 09. May 19 -7,922 €42.55 €-336,427
09. May 19 Sell Thomas Laursen Individual 08. May 19 08. May 19 -2,050 €43.28 €-88,723
30. Apr 19 Sell Keith Maio Individual 26. Apr 19 29. Apr 19 -11,000 €43.87 €-479,407
28. Feb 19 Sell David Blackford Individual 26. Feb 19 26. Feb 19 -2,027 €44.69 €-90,594
28. Feb 19 Sell Mark Young Individual 26. Feb 19 26. Feb 19 -1,063 €44.89 €-47,708
28. Feb 19 Sell Terrance Shirey Individual 26. Feb 19 26. Feb 19 -493 €44.69 €-22,034
19. Feb 19 Sell Mark Young Individual 15. Feb 19 15. Feb 19 -1,446 €44.33 €-64,104
19. Feb 19 Sell Dianne James Individual 15. Feb 19 15. Feb 19 -1,935 €44.10 €-85,337
14. Feb 19 Sell David Blackford Individual 13. Feb 19 13. Feb 19 -2,172 €44.02 €-95,601
14. Feb 19 Sell Terrance Shirey Individual 13. Feb 19 13. Feb 19 -500 €43.86 €-21,929
06. Feb 19 Sell Steven Stephens Individual 04. Feb 19 04. Feb 19 -8,000 €42.31 €-337,353
29. Jan 19 Sell Thomas Laursen Individual 28. Jan 19 28. Jan 19 -1,237 €42.37 €-52,415
09. Aug 18 Sell Rebecca Robinson Individual 07. Aug 18 07. Aug 18 -6,361 €46.42 €-294,988
03. Aug 18 Sell LeeAnne Linderman Individual 02. Aug 18 02. Aug 18 -5,006 €46.16 €-231,098
13. Nov 18 Sell LeeAnne Linderman Individual 09. Nov 18 09. Nov 18 -5,878 €44.32 €-260,522
06. Nov 18 Sell Thomas Laursen Individual 02. Nov 18 02. Nov 18 -1,381 €42.45 €-58,628
02. Nov 18 Buy Jerry Atkin Individual 01. Nov 18 01. Nov 18 7,000 €41.90 €293,310
02. Nov 18 Sell Aldon Anderson Individual 01. Nov 18 01. Nov 18 -12,000 €41.69 €-498,195
01. Nov 18 Buy Edward Murphy Individual 31. Oct 18 31. Oct 18 10 €41.61 €416
18. Oct 18 Sell LeeAnne Linderman Individual 15. Oct 18 15. Oct 18 -5,000 €41.50 €-207,503
30. Aug 18 Sell Mark Young Individual 29. Aug 18 29. Aug 18 -2,538 €45.59 €-115,703
03. Aug 18 Sell Thomas Laursen Individual 01. Aug 18 01. Aug 18 -945 €45.19 €-42,700
04. Jun 18 Sell David Blackford Individual 01. Jun 18 01. Jun 18 -1,024 €47.56 €-48,698
24. May 18 Sell David Blackford Individual 22. May 18 22. May 18 -1,078 €49.53 €-53,391
X
Management checks
We assess Zions Bancorporation National Association's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Zions Bancorporation National Association has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Company Info

Description

Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services. It also offers personal banking services to individuals, including home mortgages, bankcards, other installment loans, home equity lines of credit, checking accounts, savings accounts, certificates of deposit of various types and maturities, trust services, safe deposit facilities, and Internet and mobile banking services. In addition, the company provides self-directed brokerage services; small business administration lending and secondary market agricultural real estate mortgage loans; corporate trust services for municipalities; and bond transfer, stock transfer, and escrow services. As of December 31, 2018, it operated 433 branches. 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.

Details
Name: Zions Bancorporation, National Association
ZB1
Exchange: DB
Founded: 1873
$7,342,217,057
182,565,329
Website: http://www.zionsbancorporation.com
Address: Zions Bancorporation, National Association
One South Main Street,
Salt Lake City,
Utah, 84133,
United States
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NasdaqGS ZION Common Stock Nasdaq Global Select US USD 02. Jan 1969
DB ZB1 Common Stock Deutsche Boerse AG DE EUR 02. Jan 1969
LSE 0M3L Common Stock London Stock Exchange GB USD 02. Jan 1969
NYSE ZB.PRA PFD 1/40 SER A New York Stock Exchange US USD 05. Dec 2006
NYSE ZB.PRG DEP 1/40TH PFD New York Stock Exchange US USD 04. Feb 2013
NYSE ZB.PRH PFD 1/40 PRP H New York Stock Exchange US USD 02. May 2013
Number of employees
Current staff
Staff numbers
10,201
Zions Bancorporation National Association employees.
Industry
Regional Banks
Banks
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/21 20:49
End of day share price update: 2019/05/21 00:00
Last estimates confirmation: 2019/05/17
Last earnings filing: 2019/05/08
Last earnings reported: 2019/03/31
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.