Zions Bancorporation National Association (ZION) Earnings Optimism Builds, Is The Stock Still 13% Undervalued?

Zions Bancorporation National Association (ZION) heads into its third quarter 2026 earnings release on October 19 with expectations centered on an estimated $1.64 per share in profit.

Recent trading has been choppy for Zions Bancorporation National Association, with the share price at $63.01 after a 1-day share price return of 1.99%, while the 30-day share price return is down 7.32% and the 90-day share price return is down 12.81%. Even with that pullback, longer-term investors have seen stronger results, with a 1-year total shareholder return of 38.36% and a 3-year total shareholder return of 116.65%. This suggests momentum has cooled in the short term as the market reassesses earnings risk and potential ahead of the upcoming report.

Scan how Zions Bancorporation National Association compares with other regional financials by reviewing our hand picked list of list of solid balance sheet and fundamentals (25 results)

Bulls point to Zions Bancorporation National Association’s pullback and earnings optimism as a chance to buy quality at a discount. Bears focus on earnings risk and recent volatility. Which side do the current valuation numbers support?

Most Popular Narrative: 13% Undervalued

The most followed narrative values Zions Bancorporation National Association at $72.73 using a 7.24% discount rate, compared with the recent $63.01 close. This puts the spotlight on whether earnings power can keep supporting that gap.

The ongoing investment in digital capabilities, including a modern, AI-enabled core banking platform, positions Zions Bancorporation National Association to respond to rising demand for efficient, tech-driven banking services. Management now flags AI as a way to substitute for outsourced functions and potentially remove a meaningful slice of vendor-driven costs. This would support future net margin and earnings efficiency.

See why 11 investors see Zions Bancorporation National Association as 13% undervalued.

Result: Fair Value of $72.73 (UNDERVALUED)

Still, the narrative around Zions Bancorporation National Association can unravel if credit conditions in the Western US deteriorate or if deposit pricing pressure continues to squeeze net interest income.

Find out about the key risks to this Zions Bancorporation National Association narrative.

Next Steps

Mixed messages around Zions Bancorporation National Association can create noise, so move quickly, review the data yourself and decide what really matters for you. Then weigh those signals against the 4 key rewards and 2 important warning signs.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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