Zions Bancorporation NA

ZION · NASDAQ

$64.59+$1.45 (+2.30%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $63.14

ZION analyst rating

HoldConsensus of 19 analysts over the last 12 months. 32% rate it a buy.

Strong buy0
Buy6
Hold9
Underperform4
Sell0

12-month price target · 24 analysts

Average $76.11 (+17.8% upside)

Low: $65.65
Now: $64.59
High: $88.20

Upgrades and downgrades

The latest rating actions, newest first

ZION analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Morgan Stanley	Oct 20, 2026	Maintains	Underweight	$78.00 → $77.00	59%
JP Morgan	Oct 20, 2026	Maintains	Underweight	$65.00 → $70.00	50%
DA Davidson	Oct 20, 2026	Maintains	Buy	$79.00 → $80.00	61%
TD Cowen	Oct 20, 2026	Maintains	Hold	$69.00	47%
RBC Capital	Oct 20, 2026	Maintains	Sector Perform	$76.00	30%
Baird	Oct 20, 2026	Maintains	Outperform	$75.00 → $80.00	67%
Baird	Oct 15, 2026	Upgrade	Neutral → Outperform	$75.00	67%
Cantor Fitzgerald	Oct 14, 2026	Maintains	Overweight	$80.00 → $76.00	54%
Truist Securities	Oct 9, 2026	Maintains	Hold	$72.00 → $67.00	60%
TD Cowen	Oct 5, 2026	Maintains	Hold	$73.00 → $69.00	47%

The case for and against

Updated Oct 21, 2026

Bull case

Zions Bancorp is supported by resilient fundamentals, including strong credit quality, minimal provision expense, and declining criticized and classified loans, with ACL at 1.13% covering NPLs 2.4x and NCOs averaging less than 10bp over the past 5 years. Loan growth has been solid, deposit costs held steady at 1.48%, and fee income and expenses both improved, helping drive a 61.2% efficiency ratio and management’s confidence in 100 to 150bp of positive operating leverage in 2026. Capital is also strengthening, with CET1 at 11.6%, TCE at 7.4%, rising TBV, and sustainable buybacks, while asset sensitivity, off-balance-sheet deposit repositioning, and lower AOCI losses should support NII and capital returns.

Bear case

Zions Bancorp is viewed negatively because 2Q26 earnings strength was aided by one-time gains, including a $215M Visa sale and $37M in investment portfolio marks, while underlying profitability still showed pressure as NII of $677M missed expectations and adjusted PPNR came in below consensus. Its core franchise faces a tougher operating backdrop: NIM stayed flat at 3.27%, deposit outflows were concentrated in non-interest-bearing balances, funding costs rose on higher short-term borrowings, and management’s loan growth outlook relies mainly on C&I and owner-occupied CRE in a more competitive footprint. Although credit remained manageable with $3M provision expense and 6bp net charge-offs, the bank’s low TCE ratio, reliance on rate assumptions, and exposure to shared national credits and energy lending leave it vulnerable if asset quality or margins deteriorate.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.