Zions Bancorporation National Association (NasdaqGS:ZION) - Share price, News & Analysis

ZION fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	1/6
Past Performance	4/6
Financial Health	6/6
Dividends	5/6

ZION Stock Overview

Rewards

Trading at 49.3% below our estimate of its fair value

Earnings are forecast to grow 4.87% per year

Earnings have grown 11.4% per year over the past 5 years

Pays a reliable dividend of 2.7%

Risk Analysis

No risks detected for ZION from our risk checks.

Zions Bancorporation National Association Competitors

Regions Financial

NYSE:RF

US$19.8b

Glacier Bancorp

NYSE:GBCI

US$5.2b

First Interstate BancSystem

NasdaqGS:FIBK

US$3.9b

CVB Financial

NasdaqGS:CVBF

US$3.4b

Price History & Performance

Summary of all time highs, changes and price drops for Zions Bancorporation National Association
Historical stock prices
Current Share Price	US$56.39
52 Week High	US$75.44
52 Week Low	US$47.06
Beta	1.28
1 Month Change	1.00%
3 Month Change	-20.57%
1 Year Change	-2.56%
3 Year Change	28.28%
5 Year Change	39.06%
Change since IPO	1,511.14%

Shareholder Returns

	ZION	US Banks	US Market
7D	8.3%	3.9%	1.0%
1Y	-2.6%	-15.0%	-15.1%

Return vs Industry: ZION exceeded the US Banks industry which returned -15% over the past year.

Return vs Market: ZION exceeded the US Market which returned -15.1% over the past year.

Price Volatility

Is ZION's price volatile compared to industry and market?
ZION volatility
ZION Average Weekly Movement	6.3%
Banks Industry Average Movement	3.9%
Market Average Movement	7.8%
10% most volatile stocks in US Market	16.8%
10% least volatile stocks in US Market	2.9%

Stable Share Price: ZION is not significantly more volatile than the rest of US stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: ZION's weekly volatility (6%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1873	9,685	Harris Simmons	https://www.zionsbancorporation.com

Zions 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.

Zions Bancorporation National Association Fundamentals Summary

How do Zions Bancorporation National Association's earnings and revenue compare to its market cap?
ZION fundamental statistics
Market Cap	US$8.54b
Earnings (TTM)	US$969.00m
Revenue (TTM)	US$3.06b

8.8x

P/E Ratio

1.5x

P/B Ratio

Is ZION overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
ZION income statement (TTM)
Revenue	US$3.06b
Cost of Revenue	US$0
Gross Profit	US$3.06b
Other Expenses	US$2.09b
Earnings	US$969.00m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Jul 26, 2022

Earnings per share (EPS)	6.40
Gross Margin	100.00%
Net Profit Margin	31.67%
Debt/Equity Ratio	23.9%

How did ZION perform over the long term?

See historical performance and comparison

Dividends

2.7%

Current Dividend Yield

24%

Payout Ratio

Valuation

Is Zions Bancorporation National Association undervalued compared to its fair value and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

49.3%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: ZION ($56.39) is trading below our estimate of fair value ($111.28)

Significantly Below Fair Value: ZION is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: ZION is good value based on its Price-To-Earnings Ratio (8.8x) compared to the US Banks industry average (9.8x).

PE vs Market: ZION is good value based on its Price-To-Earnings Ratio (8.8x) compared to the US market (15.2x).

Price to Earnings Growth Ratio

PEG Ratio: ZION is poor value based on its PEG Ratio (1.8x)

Price to Book Ratio

PB vs Industry: ZION is overvalued based on its Price-To-Book Ratio (1.5x) compared to the US Banks industry average (1.1x).

Future Growth

How is Zions Bancorporation National Association forecast to perform in the next 1 to 3 years based on estimates from 18 analysts?

Future Growth Score

1/6

Future Growth Score 1/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

4.9%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ZION's forecast earnings growth (4.9% per year) is above the savings rate (1.9%).

Earnings vs Market: ZION's earnings (4.9% per year) are forecast to grow slower than the US market (13% per year).

High Growth Earnings: ZION's earnings are forecast to grow, but not significantly.

Revenue vs Market: ZION's revenue (5.9% per year) is forecast to grow slower than the US market (8% per year).

High Growth Revenue: ZION's revenue (5.9% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ZION's Return on Equity is forecast to be low in 3 years time (13.9%).

Past Performance

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

Past Performance Score

4/6

Past Performance Score 4/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

11.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ZION has high quality earnings.

Growing Profit Margin: ZION's current net profit margins (31.7%) are higher than last year (28.8%).

Past Earnings Growth Analysis

Earnings Trend: ZION's earnings have grown by 11.4% per year over the past 5 years.

Accelerating Growth: ZION's earnings growth over the past year (20.1%) exceeds its 5-year average (11.4% per year).

Earnings vs Industry: ZION earnings growth over the past year (20.1%) underperformed the Banks industry 20.9%.

Return on Equity

High ROE: ZION's Return on Equity (16%) is considered low.

Financial Health

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

Financial Health Score

6/6

Financial Health Score 6/6

Asset Level
Allowance for Bad Loans
Low Risk Liabilities
Loan Level
Low Risk Deposits
Level of Bad Loans

Financial Position Analysis

Debt to Equity History and Analysis

Balance Sheet

Financial Institutions Analysis

Asset Level: ZION's Assets to Equity ratio (14.5x) is moderate.

Allowance for Bad Loans: ZION has a sufficient allowance for bad loans (190%).

Low Risk Liabilities: 97% of ZION's liabilities are made up of primarily low risk sources of funding.

Loan Level: ZION has an appropriate level of Loans to Assets ratio (56%).

Low Risk Deposits: ZION's Loans to Deposits ratio (62%) is appropriate.

Level of Bad Loans: ZION has an appropriate level of bad loans (0.5%).

Dividend

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

Dividend Score

5/6

Dividend Score 5/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

2.70%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: ZION's dividend (2.7%) is higher than the bottom 25% of dividend payers in the US market (1.54%).

High Dividend: ZION's dividend (2.7%) is low compared to the top 25% of dividend payers in the US market (4.01%).

Stability and Growth of Payments

Stable Dividend: ZION's dividends per share have been stable in the past 10 years.

Growing Dividend: ZION's dividend payments have increased over the past 10 years.

Current Payout to Shareholders

Earnings Coverage: With its low payout ratio (24%), ZION's dividend payments are well covered by earnings.

Future Payout to Shareholders

Future Dividend Coverage: ZION's dividends in 3 years are forecast to be well covered by earnings (29.6% payout ratio).

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

10.8yrs

Average management tenure

CEO

Harris Simmons (67 yo)

32.33yrs

Tenure

US$4,656,113

Compensation

Mr. Harris Henry Simmons has been the Chief Executive Officer of Zions Bancorporation, National Association (formerly known as ZB, National Association) (formerly Zions First National Bank), a subsidiary o...

CEO Compensation Analysis

Compensation vs Market: Harris's total compensation ($USD4.66M) is below average for companies of similar size in the US market ($USD8.23M).

Compensation vs Earnings: Harris's compensation has been consistent with company performance over the past year.

Leadership Team

Experienced Management: ZION's management team is seasoned and experienced (10.8 years average tenure).

Board Members

Experienced Board: ZION's board of directors are considered experienced (5.8 years average tenure).

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: ZION insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/26 00:00
End of Day Share Price	2022/05/26 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31