Zions Bancorporation National Association (ZION) has seen its stock move within a fairly narrow range over the past week. Investors may be watching for fresh signals as the company’s recent returns suggest a period of relative stability.

While Zions Bancorporation's share price has nudged higher in recent months, the real story is in its momentum over the past year. A 1-year total shareholder return of 22.8% outpaces many peers and hints at shifting investor optimism. Short-term dips have not slowed a longer-term trend that suggests confidence is building for the bank’s ongoing growth and valuation prospects.

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With shares showing solid returns but trading below analyst price targets, the big question is whether Zions Bancorporation is trading at a discount or if investors have already factored in future growth potential. Is there real upside here?

Most Popular Narrative: 7.6% Undervalued

The latest consensus perspective values Zions Bancorporation National Association at $61.62, slightly above its last close of $56.93. This gap highlights modest upside potential, reflecting confidence in bank fundamentals and forward growth forecasts.

*The ongoing investment in digital capabilities, including a modern, AI-enabled core banking platform, positions Zions to capitalize on increasing demand for efficient, tech-driven banking services. This can lower operational costs and improve the efficiency ratio, supporting net margin expansion.*

What’s fueling this optimistic price target? It’s not just the digital pivot. Bold forecasts for revenue and margin shifts underpin the story. Want to know which numbers make the biggest difference in the final valuation? See for yourself, the underlying figures might surprise you.

Result: Fair Value of $61.62 (UNDERVALUED)

However, Zions' earnings could be pressured if regional economies weaken or if commercial real estate exposure results in greater credit losses than expected.

Build Your Own Zions Bancorporation National Association Narrative

If you see the story differently or want to test your own view, you can dive into the numbers and build a personalized narrative in minutes with Do it your way.

A good starting point is our analysis highlighting 4 key rewards investors are optimistic about regarding Zions Bancorporation National Association.

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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.