Zions Bancorporation, N.A. research snapshot
ZION AI stock analysis now describes Zions Bancorporation as a profitable western regional bank whose second quarter 2026 results improved year over year, with diluted EPS of $3.05, or $1.74 excluding one-time Visa and SBIC equity gains. At the August 3, 2026 data cutoff, the latest verified close was $69.70 on July 31, 2026, and the calculated market cap was about $10.17 billion using 145.94 million shares. The stock traded near 8.9x reported trailing earnings and 10.6x forward earnings, with the trailing figure lifted by about $1.31 per share of one-time gains. The central question is whether loan growth, deposit funding, credit quality, and capital returns can carry the stock back above the July high near $73.34. This is informational research, not investment advice.
Current price
$69.70 close on July 31, 2026
Market cap
$10.17 billion calculated market cap
AI score
76 / 100
Rating
Improved Q2 2026 momentum, reasonable valuation
Trend status
Positive longer-term trend, consolidating below the July high
Data cutoff (updated monthly)
August 4, 2026
Informational use only. This page is not investment advice.
| Dimension | Conclusion | Confidence |
|---|---|---|
| Business quality | Zions earns spread income and fees from relationship banking across 11 western states through seven local bank divisions, serving commercial, small business, consumer, capital markets, and wealth management customers. Q2 2026 customer-related noninterest income rose 11% year over year. | High |
| Moat | Local brands, regional credit knowledge, customer relationships, branch and office access, product breadth, and a modern integrated core create a useful moat, but not a software-style network effect. Large banks and fintechs can still compete for deposits and lending relationships. | Medium |
| Management | Harris Simmons has led Zions as CEO since 1990 and chairman since 2002, providing long operating continuity. The Q2 2026 release shows disciplined execution on deposits, credit, capital, and buybacks, but succession and key-person risk still deserve monitoring. | Medium-high |
| Financial trend | Q2 2026 net earnings applicable to common were $452 million, or $3.05 diluted EPS, compared with $243 million, or $1.63, a year ago. Excluding one-time gains, EPS was $1.74, up 10%. StockAnalysis shows TTM revenue of $3.69 billion and TTM net income of $1.16 billion. | High |
| Valuation | At $69.70, the financial rigor check produced 8.88x reported trailing PE, 10.64x forward PE, 1.34x price-to-book, 8.49x the reported free-cash-flow proxy, and a 2.58% dividend yield. The trailing PE is flattered by one-time gains. | Medium-high |
| Technical trend | The price was above the 50-day average near $67.27 and the 200-day average near $60.16, with RSI near 52.46. Momentum cooled from the July high near $73.34 after the Q2 2026 earnings release. | Medium |
| Risk level | Key risks are deposit repricing or outflows, net interest margin compression, commercial real estate losses, regulation, liquidity confidence, one-time-gain dependence, and a broad regional-bank valuation reset. | High |
| AI confidence | Confidence is high for descriptive facts and exact calculations, but lower for forecasts because future bank earnings depend on rates, credit costs, deposits, and the shape of the yield curve. | High data confidence |
| Investment certainty | Medium certainty. The bank is profitable and well capitalized with improved Q2 2026 results, but the price leaves less room for a credit or funding surprise than a distressed valuation would, and part of the earnings lift was nonrecurring. | Medium |
ZION AI stock forecast
The ZION AI stock forecast uses $69.70 as the reference price and a normalized EPS of about $6.54 for the base year, because reported TTM EPS of $7.85 includes about $1.31 per share of one-time Visa and SBIC gains in the second quarter of 2026. Using 3 years and the financial_rigor.py scenario assumptions, the point estimates were about $107.1 for the bullish case, $83.3 for the base case, and $44.9 for the bearish case. These are conditional ranges, not promises. They depend on earnings growth, credit costs, the required return on bank equity, and the price-to-earnings multiple investors assign to ZION. For reference, the analyst consensus is Hold with an average price target near $74.81.
$95 to $115
More likely if loan growth stays healthy, customer deposits expand, net interest income compounds near the high single digits, charge-offs remain contained, capital returns continue, and the market values ZION near a 13x earnings multiple.
$75 to $90
More likely if EPS grows about 5% annually, net interest margin remains broadly stable, credit costs normalize without a shock, and the market keeps ZION near an 11x earnings multiple.
$35 to $50
More likely if deposits become expensive or leave, commercial real estate and business credit losses rise, EPS falls about 5% annually, and investors re-rate the bank toward an 8x earnings multiple.
ZION AI technical analysis
ZION AI technical analysis is neutral-to-positive after the stock pulled back from the July high. The July 31 close was $69.70, while StockAnalysis reported a 50-day moving average near $67.27, a 200-day moving average near $60.16, RSI near 52.46, a 52-week range of $46.19 to $73.34, and average 20-day volume near 1.76 million shares. The stock is consolidating between the $68.00 to $69.00 support zone and the $71.50 to $73.34 resistance zone. Because this is a static page, confirm live levels before acting.
| Level | Value | Why it matters |
|---|---|---|
| Current price | $69.70 | Latest verified close used for this page, dated July 31, 2026. |
| Near support | $68.00 to $69.00 | A short-term support zone based on recent July lows near $68.49 to $68.52 and the surrounding consolidation area. |
| 50-day moving average | About $67.27 | The price stayed above this intermediate trend reference in the latest StockAnalysis snapshot. |
| 200-day moving average | About $60.16 | A sustained break below this level would weaken the longer-term trend structure. |
| Near resistance | $71.50 to $73.34 | The July 20 post-earnings close near $71.89 and the 52-week high near $73.34. A breakout needs follow-through and participation. |
| Momentum | RSI about 52.46 | Neutral momentum after the pullback from the July high, with room in both directions. |
| Volume | 1.76 million average shares; 1.20 million on July 31 | A move through resistance would be more credible if volume expands toward or above the recent average. |
| Volatility | 5-year beta about 0.79 | The lower beta does not remove gap risk around earnings, bank failures, credit events, or regulatory news. |
| Invalidation | Close below $67.27, then $60.16 | A break below the 50-day area weakens the short-term setup. A break below the 200-day area challenges the longer trend. |
ZION AI trading strategy
The ZION AI trading strategy is a rules-based research framework, not personalized advice. It combines price and volume confirmation with the bank metrics that can invalidate a technical setup, including deposits, net interest margin, charge-offs, classified loans, CET1 capital, and the share repurchase program.
Watch for ZION to hold above the $67.27 50-day area and clear the $71.50 to $73.34 resistance zone with stronger volume before treating a breakout as confirmed.
A failed breakout or daily close below the 50-day area should reduce confidence. Avoid sizing a position from price action alone before the next earnings report.
If ZION pulls back toward $67.27 without a credit or funding thesis break, compare price stabilization with deposit growth, net interest margin, classified loans, and the upcoming earnings report.
Do not average down solely because the stock trades near book value or a low PE. Define maximum portfolio risk and review bank-specific balance-sheet data first.
Track the third quarter 2026 earnings release, customer deposits, loan growth, NIM, provision for credit losses, nonperforming assets, classified loans, CET1, capital returns, and the $300 million 2026 buyback target.
Lower confidence if deposit costs rise, funding mix worsens, charge-offs accelerate, classified loans increase, capital ratios fall, or the stock stays below the 50-day area for an extended time.
Investment research summary
Zions turns local customer relationships and balance-sheet capacity into interest income, payment and account fees, capital-markets fees, wealth-management revenue, and other banking services. Its customers include businesses, small companies, consumers, and community institutions across 11 western states, served through seven local bank divisions.
The moat comes from local brands, regional credit knowledge, customer relationships, branch and office access, product breadth, and an integrated deposit and loan core. These advantages can support retention, but large banks and fintechs can compete for the same deposits and lending relationships.
The thesis can fail through a funding event, sharp deposit repricing, net interest margin compression, commercial real estate losses, fraud, a liquidity scare, or a regulatory capital shock. The Q2 2026 credit metrics were strong, but a clean quarter does not eliminate cycle risk, and part of the earnings lift was one-time.
Harris Simmons has led Zions for decades, while Scott McLean serves as president and COO and R. Ryan Richards as CFO. The board raised the quarterly dividend to $0.48 and authorized a $75 million buyback for the third quarter of 2026 under a $300 million annual target. Long tenure helps continuity, but succession and key-person risk still deserve monitoring.
Regional banking is a mature industry rather than a civilization-level growth market. The long-term opportunity is to combine local service with digital delivery, stronger data systems, payments, capital markets, and wealth management. The tradeoff is high regulation, rate sensitivity, and intense competition for stable deposits.
At $69.70, the calculated valuation was about 8.88x reported trailing PE and 1.34x book value, with a 2.58% dividend yield. The trailing PE is flattered by about $1.31 per share of one-time gains, so the forward multiple near 10.6x is more relevant. The margin of safety depends on credit losses and funding costs staying controlled because book value can fall when asset quality or liquidity confidence deteriorates.
Source-backed data
Every metric below includes a source and last verification date.
| Metric | Value | Source | Last verified |
|---|---|---|---|
| ZION closing price | $69.70 on July 31, 2026 | StockAnalysis daily price history | August 3, 2026 |
| Market capitalization | $10.17 billion, calculated as $69.70 x 145.94 million shares | financial_rigor.py using StockAnalysis shares outstanding | August 3, 2026 |
| Q2 2026 net earnings and diluted EPS | $452 million net earnings applicable to common, $3.05 diluted EPS, or $1.74 excluding notable items | Zions Q2 2026 earnings release filed with the SEC as an 8-K exhibit | August 3, 2026 |
| Q2 2026 net interest income and margin | $677 million and 3.27%, with NII up 4% year over year | Zions Q2 2026 earnings release filed with the SEC | August 3, 2026 |
| Q2 2026 loans, deposits, and assets | $62.5 billion loans and leases, $76.6 billion total deposits, and $89.0 billion total assets | Zions Q2 2026 earnings release filed with the SEC | August 3, 2026 |
| Q2 2026 credit quality and capital | 0.06% annualized net charge-offs, 0.48% nonperforming assets, 3.72% classified loans, 1.13% ACL to loans, and 11.8% estimated CET1 | Zions Q2 2026 earnings release filed with the SEC | August 3, 2026 |
| Q2 2026 tangible book value | $44.74 tangible book value per common share, up 22% year over year | Zions Q2 2026 earnings release filed with the SEC | August 3, 2026 |
| TTM revenue and net income | $3.69 billion revenue and $1.16 billion net income, with $7.85 TTM EPS | StockAnalysis, provided by S&P Global Market Intelligence | August 3, 2026 |
| 2025 annual financial trend | $3.31 billion revenue, $895 million net income, and $6.01 diluted EPS | StockAnalysis annual financials, provided by S&P Global Market Intelligence | August 3, 2026 |
| Valuation math | 8.88x reported trailing PE, 10.64x forward PE, 1.34x PB, 8.49x reported FCF proxy, and 2.58% dividend yield | financial_rigor.py using StockAnalysis TTM inputs | August 3, 2026 |
| Technical snapshot | 50-day MA about $67.27, 200-day MA about $60.16, RSI about 52.46, beta about 0.79, and 52-week range $46.19 to $73.34 | StockAnalysis statistics | August 3, 2026 |
| Analyst forecast | Hold consensus from 22 analysts with an average price target of $74.81 and an adjusted FY2026 EPS forecast near $6.57 | S&P Global Market Intelligence via StockAnalysis | August 3, 2026 |
| Dividend and buyback actions | Quarterly dividend raised to $0.48 per share, up 6.7%, payable August 20, 2026, and a $75 million buyback authorized for Q3 2026 under a $300 million annual target | Zions press release dated July 30, 2026 via PRNewswire | August 3, 2026 |
| Q2 2026 share repurchases | Repurchased 1.2 million common shares for $75 million during Q2 2026 | Zions Q2 2026 earnings release filed with the SEC | August 3, 2026 |
This ZION AI stock analysis is an informational tool for research and education only. It is not investment advice, a recommendation, or a guarantee of future performance. Forecast ranges are conditional scenarios based on available data as of August 3, 2026 and can be wrong. Reported earnings include one-time gains, and normalized EPS is an estimate that can differ from future reported results. Bank cash, liquidity, and free-cash-flow figures can use different definitions across sources, so readers should review primary filings before making decisions.
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