Zions Bancorporation N.A. (ZION) Stock Price & How to Invest

Zions Bancorporation, National Association is a regional bank holding company headquartered in Salt Lake City with roughly $89 billion in total assets at the end of 2025. It runs a collection of locally managed and separately branded banks, including California Bank & Trust, Amegy Bank in Texas, National Bank of Arizona, Nevada State Bank, and Vectra Bank Colorado, serving small and mid-sized businesses, commercial clients, and retail customers across 11 western states. Its core business is gathering deposits (about $73.8 billion) and lending them out, with roughly $59.6 billion of loans spread across commercial and industrial, commercial real estate, residential mortgage, and consumer credit.

The investment picture is that of a traditional spread-lending regional bank rather than a growth story. Earnings are driven by net interest income (the gap between what the bank earns on loans and securities and what it pays on deposits), fee income, expense discipline, and credit costs. Q1 2026 showed improved profitability, with net interest income of about $662 million, a wider net interest margin near 3.27%, and diluted EPS of $1.56, up sharply from a year earlier. The stock carries a low valuation multiple, reflecting both the market's caution on regional-bank credit and interest-rate sensitivity and the franchise's steady, deposit-funded model.

The largest risks are credit and interest-rate related. Commercial real estate is about 22% of loans, and while the portfolio is described as granular with low loan-to-value ratios, the office segment and criticized-loan levels bear watching as CRE loans mature into 2026. A renewed rise in funding costs or deposit flight, as the sector experienced during the 2023 regional-bank stress, would compress margins and pressure the stock. Concentration in western commercial and small-business borrowers ties results to regional economic health. Rising loan losses or a recession would increase provisions and reduce earnings, and the low valuation multiple reflects the market pricing these tail risks.

21 analysts publish price targets on ZION, averaging $74.95 against a $69.70 price as of August 2026, or +7.5%. The published targets run from $68.00 to $85.00, a narrow spread, and the ratings split 7 buy, 12 hold, 3 sell. Over the last six months there have been 9 raises and 2 cuts among the published actions. A price target is what an analyst published on a date, not a prediction, and sell-side ratings skew positive across the whole market.

Read the full ZION forecast and price target for the target table, the recent rating actions by firm, and how the consensus has shifted.

We give no verdict on Zions Bancorporation N.A.. Both cases are real, which is why the question is contested at all, so here is the strongest version of each.

The case for buying. Net interest margin recovery. Net interest income rose about 6% year over year in Q1 2026 as the net interest margin widened to roughly 3.27% from 3.10% a year earlier. The most optimistic published target, $85.00, assumes this works close to its best case.

The case against. The largest risks are credit and interest-rate related. The most pessimistic target, $68.00, is roughly what ZION is worth if this bites instead.

Read the full bull and bear case on ZION, including what would have to change to break either one. Walnut is not an investment adviser.

A simple financial snapshot. These are approximations and refresh quarterly; for current figures see Zions Bancorporation N.A.'s investor relations page or your broker.

• Revenue (2025 net revenue): ~$3.4B
• Net interest income (Q1 2026): ~$662M
• Diluted EPS (Q1 2026): ~$1.56
• Market cap: ~$9.2B
• Trailing P/E: ~9.5x
• Total assets: ~$89B

Zions trades at a low-single-digit-multiple valuation typical of regional banks, with a trailing P/E near 9.5x and return on equity around 14%. Q1 2026 net earnings of about $232 million were up roughly 37% year over year, helped by a wider margin and higher fee income. Analyst price targets in 2026 clustered in the high-$60s to mid-$70s, reflecting a mix of optimism on operating leverage and caution on credit.

If you want ZION exposure as part of a larger bundle rather than directly, these ETFs hold it meaningfully. Weights are approximate and refresh quarterly.

Other names that sit close to ZION: same theme, named as a direct competitor, or held beside it in the same funds. Each entry says which. Worth a look if you are thinking about diversification within a thesis rather than concentration on one ticker.

There are three common ways to get ZION exposure. Buy shares (or fractional shares) directly at any major broker. Hold an ETF that includes it (DFSV), which spreads the position across many companies. Or build it into a focused thematic portfolio, so ZION sits alongside other stocks that express the same thesis.

Walnut takes the portfolio route. Describe a thesis where ZION fits (for example “AI infrastructure” or “dividend-growth large-caps”) and the AI proposes 5 to 6 constituents with target weights. You review the plan and fund it through your own broker when you're ready.

New to this? Start with how to invest in stocks, see how to analyze a stock with AI, or compare the best AI stock analyzers.

ZION is a mid-cap western regional bank whose returns hinge on loan growth, deposit costs, and commercial-real-estate credit, priced at a low-single-digit-multiple value profile.

Whether ZION is worth buying today depends more on your time horizon and what you already hold than on any single call. We walk through valuation, what would have to go right, and the risks in is ZION a buy or a sell?, and where the stock could go from here in the ZION stock forecast.

For income investors, whether ZION pays a dividend and how the payout looks is covered in does ZION pay a dividend? And to weigh ZION against a peer, read the full side-by-side comparisons: ZION vs EWBC and ZION vs KEY.