ZIONS BANCORPORATION, NATIONAL ASSOCIATION
In the published model solve dated 2026-Q2, anchored at $71.69, ZIONS BANCORPORATION, NATIONAL ASSOCIATION (ZION) is priced for more than 16.3% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 28, 2026 from SEC EDGAR filings.
At about $66, roughly 1.4 times book value, the price asks Zions to keep earning a return on equity near the top of what regional banks have sustained over decades. Recent results back the demand: first-quarter 2026 diluted EPS came in at $1.56, up from $1.13 a year earlier, with net interest margin at 3.27 percent. The model families mostly agree the stock is reasonable. Asset-based, earnings-power, and peer-multiple readings all land at or above the price; only the most growth-leaning models
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543 institutional managers reported holding ZION in 13F filings for the quarter ended 2026-03-31. Together they hold about 78% of the company; the top 10 hold 43%. 67 opened new positions that quarter. Held by Vanguard Group, BlackRock, Dimensional Fund Advisors, among others. On the short side, 6.9M shares were sold short as of the 2026-06-15 count, about 5% of shares outstanding (4.1 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
ZION has cut its share count 9.7% over the past five years, spending $1.06B on repurchases. It pays a dividend, and has paid one every year in our records (17 and counting); the current rate is $1.76 a share annually. Cash returned over the past three years: $768.00M in dividends and $155.00M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at ZION over the trailing three years: 2024: 2 buys totaling $295k; 2026: 1 buy totaling $266k. 19 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
ZION's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-05 | +16.9% | -11.2% |
| 2023-11-04 | -12.2% | +26.8% |
| 2024-02-24 | -1.6% | +7.1% |
| 2024-05-09 | +4.8% | +7.0% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
ZION's latest 8-K filings: 2026-07-20 (items 2.02, 9.01); 2026-06-02 (items 5.02, 9.01); 2026-05-04 (items 8.01, 9.01); 2026-05-04 (items 5.07); 2026-04-20 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 28, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.