Zions Bancorporation N.A. Depositary Shares (Each representing 1/40th Interest in a Share of Series A Floating-Rate Non-Cumulative Perpetual Preferred Stock) (ZIONP)

FairStock Score: 76/100 — HIGH CONVICTION

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach this as a bank credit and preferred-equity question, not just a common-stock bargain hunt. Zions is a regional bank operating through several western franchises; its value depends on underwriting, funding costs, and capital. The supplied common-equity-style metrics look cheap: at the 2026-10-13 close of $17.06, FairStock calculates a P/E of 2.76, P/B of 0.33, ROE of 16.40%, PEG of 0.07, and a Piotroski F-Score of 6/9, with a FairStock Score of 76/100. The Lynch category is STALWART, reflecting steady multi-year growth. Filed figures show FY2025 revenue of $529.0M, net income of $899.0M, and diluted EPS of $6.01, versus FY2024 revenue of $513.0M, net income of $784.0M, and diluted EPS of $4.95. In fiscal Q2 2026, the quarter ended 2026-06-30, the company filed net income of $453.0M and diluted EPS of $3.05. That is real earning power. But this is a non-cumulative perpetual preferred: the 7.00% dividend can be skipped without accrual, and preferred holders sit behind depositors and creditors. The bank-specific measures that matter most—CET1, NIM, efficiency ratio, charge-offs, allowance for loan losses, and non-performing assets—are not in the data, so I cannot fully judge credit or capital. The price is near the low end of its 52-week range of $16.72–$22.27, and the 7.00% yield is attractive if the bank remains sound. Still, Graham would demand a margin of safety for the non-cumulative feature, and Buffett would ask whether the bank's moat and balance sheet are durable. The numbers are cheap; the missing credit detail is the catch.

In plain English: Zions Bancorporation is a regional bank serving small and mid-sized businesses across several western U.S. states, and ZIONP is a preferred-stock claim on that bank. The bank has been profitable and yearly earnings have grown, while the preferred shares pay a high dividend. Based on the supplied numbers, the price looks low compared with earnings and book value, but the dividend is not guaranteed and depends on the bank's health.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q4 2025 10-K (period ended 2025-12-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer