NasdaqGS:ZION

Stock Analysis Report

Zions Bancorporation National Association

Executive Summary

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.


Snowflake Analysis

Flawless balance sheet, undervalued and pays a dividend.


Similar Companies

Share Price & News

How has Zions Bancorporation National Association's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: ZION's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

25.6%

ZION

14.6%

US Banks

9.4%

US Market


1 Year Return

-36.0%

ZION

-24.3%

US Banks

-6.8%

US Market

Return vs Industry: ZION underperformed the US Banks industry which returned -32.9% over the past year.

Return vs Market: ZION underperformed the US Market which returned -13.3% over the past year.


Shareholder returns

ZIONIndustryMarket
7 Day25.6%14.6%9.4%
30 Day3.5%-4.4%-3.9%
90 Day-38.8%-33.9%-16.5%
1 Year-34.1%-36.0%-22.0%-24.3%-4.8%-6.8%
3 Year-16.3%-21.4%-8.3%-15.1%23.4%15.2%
5 Year22.7%13.2%16.7%3.3%41.3%25.7%

Price Volatility Vs. Market

How volatile is Zions Bancorporation National Association's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

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

43.8%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: ZION ($26.93) is trading below our estimate of fair value ($64.61)

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 PE Ratio (6.1x) compared to the Banks industry average (8.6x).

PE vs Market: ZION is good value based on its PE Ratio (6.1x) compared to the US market (12.5x).


Price to Earnings Growth Ratio

PEG Ratio: ZION's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: ZION is good value based on its PB Ratio (0.7x) compared to the US Banks industry average (0.8x).


Next Steps

Future Growth

How is Zions Bancorporation National Association forecast to perform in the next 1 to 3 years based on estimates from 16 analysts?

-11.7%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ZION's earnings are forecast to decline over the next 3 years (-8.4% per year).

Earnings vs Market: ZION's earnings are forecast to decline over the next 3 years (-8.4% per year).

High Growth Earnings: ZION's earnings are forecast to decline over the next 3 years.

Revenue vs Market: ZION's revenue is expected to decline over the next 3 years (-0.6% per year).

High Growth Revenue: ZION's revenue is forecast to decline over the next 3 years (-0.6% 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 (9.1%).


Next Steps

Past Performance

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

26.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: ZION has high quality earnings.

Growing Profit Margin: ZION's current net profit margins (27.8%) are lower than last year (30%).


Past Earnings Growth Analysis

Earnings Trend: ZION's earnings have grown significantly by 26.7% per year over the past 5 years.

Accelerating Growth: ZION's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: ZION had negative earnings growth (-8%) over the past year, making it difficult to compare to the Banks industry average (10.9%).


Return on Equity

High ROE: ZION's Return on Equity (11.1%) is considered low.


Next Steps

Financial Health

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


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet


Financial Institutions Analysis

Asset Level: ZION's level of assets compared to its equity is low.

Allowance for Bad Loans: ZION has a sufficient allowance for bad loans.

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

Loan Level: ZION has an acceptable proportion of non-loan assets held.

Low Risk Deposits: ZION's loans are broadly funded by customer deposits.

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


Next Steps

Dividend

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

4.39%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: ZION's dividend (5.05%) is higher than the bottom 25% of dividend payers in the US market (2.01%).

High Dividend: ZION's dividend (5.05%) is low compared to the top 25% of dividend payers in the US market (5.66%).


Stability and Growth of Payments

Stable Dividend: ZION's dividend payments have been volatile in the past 10 years.

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


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (29%), 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 (41% payout ratio).


Next Steps

Management

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

12.3yrs

Average management tenure


CEO

Harris Simmons (65yo)

30.25s

Tenure

US$4,341,075

Compensation

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.  ...


CEO Compensation Analysis

Compensation vs Market: Harris's total compensation ($USD4.34M) is about average for companies of similar size in the US market ($USD5.69M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Harris Simmons
Chairman & CEO30.25yrsUS$4.34m0.75% $38.3m
Scott McLean
President1.58yrsUS$2.36m0.084% $4.3m
Paul Burdiss
Executive VP & CFO4.92yrsUS$1.96m0.035% $1.8m
Aldon Anderson
Executive Vice President20.25yrsUS$1.60m0.019% $966.9k
Edward Schreiber
Executive VP & Chief Risk Officer7yrsUS$1.61m0.026% $1.3m
Jennifer Smith
Executive VP & Chief Information Officer4.42yrsno data0.011% $562.2k
James Abbott
Senior VP of Investor Relations & External Communications11.25yrsno data0.029% $1.5m
Thomas Laursen
Executive VP16.25yrsno data0.011% $550.0k
Alvin Lee
Senior VP & Director of Corporate Development13.25yrsno datano data
Bruce Alexander
Executive Vice President20.25yrsno data0.012% $631.9k

12.3yrs

Average Tenure

62yo

Average Age

Experienced Management: ZION's management team is seasoned and experienced (12.3 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Harris Simmons
Chairman & CEO30.25yrsUS$4.34m0.75% $38.3m
Scott McLean
President1.58yrsUS$2.36m0.084% $4.3m
Gary Crittenden
Independent Director3.67yrsUS$197.48k0.0054% $272.5k
Jerry Atkin
Independent Director27.25yrsUS$197.48k0.045% $2.3m
James Heaney
Independent Director14.33yrsUS$206.48k0.046% $2.3m
Stephen Quinn
Lead Director3.25yrsUS$222.48k0.11% $5.7m
Barbara Yastine
Independent Director3yrsUS$172.48k0.0038% $192.7k
Edward Murphy
Independent Director5.75yrsUS$209.48k0.011% $567.3k
Suren Gupta
Independent Director5.08yrsUS$182.48k0.0077% $389.9k
Vivian Lee
Independent Director5.08yrsUS$175.48k0.0072% $368.1k

5.1yrs

Average Tenure

64yo

Average Age

Experienced Board: ZION's board of directors are considered experienced (5.1 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: ZION insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

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


Top Shareholders

Company Information

Zions Bancorporation, National Association's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Zions Bancorporation, National Association
  • Ticker: ZION
  • Exchange: NasdaqGS
  • Founded: 1873
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$5.084b
  • Shares outstanding: 164.01m
  • Website: https://www.zionsbancorporation.com

Number of Employees


Location

  • Zions Bancorporation, National Association
  • One South Main Street
  • Salt Lake City
  • Utah
  • 84133-1109
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ZIONNasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDJan 1969
ZB1DB (Deutsche Boerse AG)YesCommon StockDEEURJan 1969
0M3LLSE (London Stock Exchange)YesCommon StockGBUSDJan 1969
ZB1BRSE (Berne Stock Exchange)YesCommon StockCHCHFJan 1969
ZION.PNasdaqGM (Nasdaq Global Market)PFD 1/40 SER AUSUSDDec 2006
ZION.ONasdaqGM (Nasdaq Global Market)DEP RP PFD GUSUSDFeb 2013
ZION.NNasdaqGM (Nasdaq Global Market)DEP RP PFD HUSUSDMay 2013
Z1IO34BOVESPA (Bolsa de Valores de Sao Paulo)BDR EACH REPR 1 COMBRBRLDec 2019

Biography

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, 2019, it operated 434 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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/10 02:16
End of Day Share Price2020/04/09 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.