Zions Bancorporation has delivered 4 consecutive earnings beats with an average surprise of 11% and strong growth metrics, but a hard geographic concentration in 4 states — representing 77% of exposure — and a stock price that has already exceeded its analyst target create significant structural and timing risks.
Thesis pillars
- Perfect Earnings Beat Streak↑Improving
- Geographic Concentration 77pct↓Deteriorating
- Stock Exceeded Analyst Target→Stable
- +1 more pillar — see the Why tab for full reasoning
Zions Bancorporation N.A. (ZION) Stock Analysis
Financial Services · Banks - Regional
Hold if already holding. Not a fresh buy at $69.37, but acceptable to hold if already in. Reasons: Single-region cliff: 77% exposure to Utah, Idaho, Texas, and California (≥60% threshold). Regional macroeconomic shock = idiosyncratic terminal risk.; Concentration risk — Geographic: Utah, Idaho, Texas, and California (77.0%).
Zions Bancorporation, N.A. is a national bank headquartered in Salt Lake City, Utah, with $89 billion in total assets and $3.4 billion in net revenue in 2025, serving 1+ million customers through 407 branches across 11 Western states via seven affiliate brands. Net interest... Read more
Hold if already holding. Not a fresh buy at $69.37, but acceptable to hold if already in. Reasons: Single-region cliff: 77% exposure to Utah, Idaho, Texas, and California (≥60% threshold). Regional macroeconomic shock = idiosyncratic terminal risk.; Concentration risk — Geographic: Utah, Idaho, Texas, and California (77.0%). Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Score 6.7/10, high confidence.
Passes 6/9 gates (positive momentum, clean insider activity, news events none recent, earnings proximity 44d clear, semi cycle peak clear, materials cycle peak clear). Fails on favorable risk/reward ratio and finsvc regional cliff hard block. Suitability: moderate.
Recent developments
updated 2026-09-05Recent Developments — Zions Bancorporation N.A.
Latest news
- NEWS Zions Bancorporation, N.A. (NASDAQ:ZION) EVP Derek Steward Sells 894 Shares - MarketBeat — MarketBeat neutral
- NEWS Sei Investments Co. Raises Stock Position in Zions Bancorporation, N.A. $ZION - MarketBeat — MarketBeat neutral
- NEWS The Bull Case For Zions Bancorporation (ZION) Could Change Following Debt Issue, Earnings Beat, Buybacks Completion - si — simplywall.st positive
- NEWS Mike Selfridge Joins Zions Bancorporation as Executive Vice President and Head of Wealth Management - PR Newswire — PR Newswire positive
- NEWS Details emerge in cold case alleging husband pushed wife to her death at Zion National Park - St. George News — St. George News neutral
Generated 2026-09-06T06:51:59Z.
Upcoming dated catalysts
Thesis
Key Metrics
Quality Signals
Options Flow
Concentration Risks(10-K Item 1A)
- HIGHGeographicUtah, Idaho, Texas, and California77%10-K Item 1A: 'our banking operations in Utah, Idaho, Texas, and California represented 77% of our commercial lending portfolio'
- MEDIUMloan_portfolioreal estate, oil and gas, and leveraged lending10-K Item 1A: 'We have a concentration of risk within our loan portfolio, including, but not limited to, loans secured by real estate, oil and gas-related lending, and leveraged and enterprise value lending'
- HIGHregulatoryOCC10-K Item 1: 'we are subject to the regulatory oversight of the Office of the Comptroller of the Currency ("OCC")'
Material Events(8-K, last 90d)
- 2026-06-02Item 5.02LOWBoard expanded from 11 to 12 directors; Daniel J. Ryan (retired PricewaterhouseCoopers partner) elected effective June 2, 2026. Appointed to Audit and Risk Oversight Committees effective July 1, 2026. No reason cited.SEC filing →
Model-generated analysis — not investment advice. Not a registered investment advisor. Past performance does not guarantee future results.
Show full disclosure ▾Hide full disclosure ▴
About TrendMatrix. TrendMatrix is a publisher of general securities research and market commentary. We publish on a regular schedule. All content is the same for every subscriber in a tier — we do not provide personalized investment advice and we do not take into account any individual subscriber's financial situation, investment objectives, risk tolerance, tax situation, or holdings.
Not investment advice. TrendMatrix is not a registered investment adviser. Our content is for informational and educational purposes only. Consult your own licensed investment adviser, broker, or tax professional before making any investment decision.
Conflicts and positions. The TrendMatrix editorial team frequently holds personal long-term positions in securities discussed. We disclose positions held at the time of publication on each piece. We maintain a trading-window policy: we do not initiate or close positions in the same direction as a TrendMatrix publication within 24 hours before or 72 hours after publication.
No paid promotion. TrendMatrix does not accept payment from any issuer, broker, or third party in exchange for coverage of any security. Our sole compensation is subscription revenue.
No fiduciary duty. No fiduciary, advisory, or agency relationship is created between you and TrendMatrix by reading our content or subscribing to our service.
Performance. Past performance is not indicative of future results. Performance figures reflect the published model only and do not reflect any individual subscriber's actual results.
Rating Breakdown
1 ceiling hit
Price Targets
Position Sizing
Risk Alerts
Earnings
Verdict History
Frequently Asked Questions
Hold if already holding. Not a fresh buy at $69.37, but acceptable to hold if already in. Reasons: Single-region cliff: 77% exposure to Utah, Idaho, Texas, and California (≥60% threshold). Regional macroeconomic shock = idiosyncratic terminal risk.; Concentration risk — Geographic: Utah, Idaho, Texas, and California (77.0%). Chart setup: No clear chart pattern; technical signals are mixed. Maintain position. Not compelling to add more. Target $71.14 (+2.6%), stop $66.51 (−4.3%), A.R:R -0.6:1. Score 6.7/10, high confidence.
Take-profit target: $71.14 (-2.8% upside). Target $71.14 (+2.6%), stop $66.51 (−4.3%), A.R:R -0.6:1. Stop-loss: $66.51.
Single-region cliff: 77% exposure to Utah, Idaho, Texas, and California (≥60% threshold). Regional macroeconomic shock = idiosyncratic terminal risk.; Concentration risk — Geographic: Utah, Idaho, Texas, and California (77.0%); Concentration risk — Regulatory: OCC.
Zions Bancorporation N.A. trades at a P/E of 8.8 (forward 10.2). TrendMatrix value score: 6.8/10. Verdict: Hold.
28 analysts cover ZION with a consensus score of 3.5/5. Average price target: $75.
What does Zions Bancorporation N.A. do?Zions Bancorporation, N.A. is a national bank headquartered in Salt Lake City, Utah, with $89 billion in total assets...
Zions Bancorporation, N.A. is a national bank headquartered in Salt Lake City, Utah, with $89 billion in total assets and $3.4 billion in net revenue in 2025, serving 1+ million customers through 407 branches across 11 Western states via seven affiliate brands. Net interest income from commercial, CRE, and consumer loans is the primary revenue source; Utah, Idaho, Texas, and California account for 77% of commercial loans.