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Zions Bancorporation National Association
Zions Bancorporation National Association (ZION) is listed on NASDAQ and classified in Banks - Regional, part of the Financial Services sector. It is headquartered in Salt Lake City, United States and has 8,996 employees. The company is worth $9.69B and trades at 8.1x its earnings of the last twelve months; the median for its sector is 13.2x. Revenue was $3.39B in fiscal 2025, up 8.1% from the year before. Net income was $899M. The share price is 9.5% below its 52-week high of $73.34. It pays a dividend yielding 2.89%, and has raised its annual dividend for 13 years in a row in our records. 7 of the 38 superinvestors we track held it at the end of Q2 2026. The largest position belongs to Two Sigma (Two Sigma Investments), at $193.35M. In that quarter, 4 of them opened or added to the position and 2 reduced it. No open-market insider trades in it were filed over the last 30 days.
Written from the data on this page: SEC filings (13F, Form 4, annual reports) and market prices.
Year by year, from the annual reports; dividends from the payments themselves.
Bars are year-end balances; lines are what happened during the year.
Major managers that reported this stock in their latest 13F.
▲ +0.5% over 5Y.
today you would have $1,195.77▲ +19.6%
Dividends reinvested, splits accounted for. Past prices say what happened, not what will.
The last 18 closed years, each at that year’s closing price and reported numbers.
| Indicator | Median | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Year-end price | $58.54 | $54.25 | $43.87 | $49.16 | $63.16 | $43.44 | $51.92 | $40.74 | $50.83 | $43.04 | $27.30 | $28.51 | $29.96 | $21.40 | $16.28 | $24.23 | $12.83 | $24.51 |
Seven formulas applied to the reported numbers, each with its assumption next to the result. None of them predicts a price.
Square root of 22.5 × earnings × book value. Blind to intangibles, so it undervalues software and brands.
Earnings growing 14.8% a year plus a 2.9% dividend yield. Growth capped at 25%.
Median P/E of 13.2 among peers in the sector.
Median P/E of 14.4 across this company’s own years on record.
Cash flow growing 14.8% a year for 10 years, discounted at 10%, then 2.5% forever.
This formula has no meaning here — usually a loss, negative cash flow, or a missing input.
Dividend growing 4.0% a year against a 8.2% required return, from the stock’s beta.
Companies of similar size in Financial Services, for comparison. The columns are the same ones above, in the same order.
| Stock | Price | P/E | P/B | Dividend yield | ROE | Market cap |
|---|---|---|---|---|---|---|
| ORIOld Republic International Corp | $40.08 | 8.8x | 1.6x | 9.32% | 18.57% | $9.68B |
| ONBOld National Bancorp | $25.16 | 10.2x | 1.2x | 2.31% | 10.61% | $9.63B |
| CFRCullen/frost Bankers Inc | $157.68 | 14.7x | 2.2x | 2.61% | 15.50% | $9.8B |
| EVREvercore Inc. | $255.39 |
| P/E | 14.4x | 9.7x | 11.0x | 10.1x | 8.5x | 9.3x | 14.4x | 12.5x | 10.0x | 19.6x | 21.6x | 22.7x | 17.0x | 19.0x | 22.1x | 19.6x | — | — | — |
| P/S | 2.6x | 2.6x | 2.6x | 2.1x | 2.3x | 3.3x | 2.6x | 3.0x | 2.7x | 3.8x | 3.7x | 2.7x | 2.7x | 2.7x | 1.8x | 1.3x | 2.0x | 0.7x | 1.2x |
| P/B | 1.0x | 1.2x | 1.3x | 1.1x | 1.5x | 1.3x | 0.9x | 1.2x | 1.0x | 1.3x | 1.1x | 0.7x | 0.8x | 0.9x | 0.7x | 0.4x | 0.7x | 0.3x | 0.4x |
| EPS | $6.01 | $4.95 | $4.35 | $5.79 | $6.79 | $3.02 | $4.16 | $4.08 | $2.60 | $1.99 | $1.20 | $1.68 | $1.58 | $0.97 | $0.83 | -$2.48 | -$9.92 | -$2.68 |
| Dividend yield | 1.57% | 3.01% | 3.06% | 3.74% | 3.21% | 2.28% | 3.13% | 2.47% | 2.55% | 0.87% | 0.65% | 0.81% | 0.56% | 0.43% | 0.19% | 0.25% | 0.17% | 0.78% | 6.57% |
| Payout | 21.21% | 29.28% | 33.54% | 37.70% | 27.29% | 21.21% | 45.03% | 30.77% | 25.49% | 16.92% | 14.07% | 18.33% | 9.52% | 8.23% | 4.12% | 4.82% | — | — | — |
| Profit margin | 19.50% | 26.56% | 25.05% | 21.83% | 28.78% | 38.78% | 19.31% | 28.75% | 31.76% | 22.69% | 19.68% | 14.91% | 18.34% | 12.97% | 16.24% | 14.36% | -13.50% | -45.01% | -12.31% |
| ROE | 6.49% | 12.52% | 12.80% | 11.95% | 18.54% | 15.13% | 6.83% | 11.10% | 11.67% | 7.71% | 6.14% | 4.12% | 5.41% | 4.08% | 5.78% | 4.64% | -4.40% | -21.36% | -4.08% |
Median of the years shown; P/E years above 200x are left out.
The average of the method families that answered, not of the seven numbers: four of the seven start from the same earnings per share.
6 methods answered, across 3 families.
Room for errors in the reported numbers.
+76.2% from the average.
Models, not forecasts, and not investment advice. How each formula works →
| 14.4x |
| 5.3x |
| 1.39% |
| 39.50% |
| $9.82B |
| BNTBrookfield Wealth Solutions Ltd. | $36.54 | 43.5x | 0.7x | 0.77% | 1.04% | $10.03B |
| IRENIREN Ltd | $25.51 | — | 2.3x | 0.00% | -23.41% | $10.05B |
