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Held by 155 of 2,417 reporting institutions (93th percentile) — extremely crowded.
Data as of Q3 2026
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Total shares institutions bought (green) vs sold (red) each quarter across all holders.
Inferred from quarter-over-quarter change in each fund's 13F position (new stakes count as buys, exits as sells). Not tick-level trades.
Ranked against 16 sector peers with collected financials. Valuation from latest close × latest fiscal-year fundamentals; 13F conviction as of 2026-09-30.
Percentile is “goodness” within the peer set (100 = best). For valuation and leverage that means cheaper / less-levered ranks higher.
| Company | Mkt cap ▼ | P/E | EV/EBITDA | P/S | Rev gr | Gross | Net | ROE | ROIC | Net D/EBITDA | 13F |
|---|---|---|---|---|---|---|---|---|---|---|---|
| JPM | $895.0B | 16.8× | — | 4.9× | 2.8% | — | 31.3% | 15.7% | 13.4% | — | 1,974 |
| BAC | $346.2B | 13.1× | — | 3.1× | 6.8% | — | 27.0% | 10.1% | 4.9% | — | 1,281 |
| C | $203.0B | 17.6× | — | 2.4× | 5.6% | — | 16.8% | 6.7% | 2.5% | — | — |
| COF | $125.7B | 50.8× | — | 2.4× | 36.6% | — | 4.6% | 2.2% | 2.1% | — | 645 |
| USB | $92.6B | 12.9× | — | 3.2× | 4.4% | — | 26.4% | 11.6% | 9.2% | — | 685 |
| PNC | $90.5B | 13.7× | — | 3.9× | 7.2% | — | 30.3% | 11.5% | 5.9% | — | 677 |
| KEY | $22.3B | 13.9× | — | 3.0× | 62.7% | — | 24.3% | 9.0% | 6.0% | — | 248 |
| FHN | $11.0B | 12.4× | — | 3.2× | 7.2% | — | 28.7% | 11.1% | 8.1% | — | — |
| CFR | $9.8B | 15.9× | — | 4.4× | 8.3% | — | 29.0% | 14.2% | 14.2% | — | 149 |
| ZION | $9.5B | 10.9× | — | 14.4× | 3.6% | — | — | 12.5% | 8.7% | — | 155 |
| WBHC | $6.8B | 87.9× | — | 19.1× | 14.2% | — | 21.2% | 13.0% | 12.8% | — | — |
| CBU | $3.3B | 15.7× | — | 4.0× | 9.6% | — | 25.7% | 10.5% | 10.5% | — | 58 |
| PRK | $3.2B | 15.8× | — | 4.8× | 2.9% | — | 27.1% | 13.3% | 12.6% | — | 61 |
| BANC | $2.9B | 15.6× | — | 1.6× | -3.8% | — | 12.6% | 6.5% | 4.1% | — | 48 |
| NBTB | $2.7B | 15.7× | — | 14.8× | 10.4% | — | 92.5% | 8.9% | 8.3% | — | 62 |
| CASH | $1.6B | 9.6× | — | 1.9× | 5.3% | — | 22.1% | 21.7% | 20.6% | — | 46 |
| HAFC | $960M | 13.0× | 12.1× | 3.5× | 15.3% | — | 28.2% | 9.6% | 9.6% | 0.0× | 38 |
Peers = companies sharing ZION's sector (National Commercial Banks) with collected SEC financials. Multiples use the most recent end-of-day close and latest fiscal-year fundamentals (trailing, not forward). Missing cells mean the peer never reported that line item, has no collected price, or has a non-positive denominator. Not investment advice.
What the company returns to shareholders — and whether it's covered by cash.
The dividend is comfortably covered — only 28% of free cash flow, leaving room to grow it and fund buybacks. Last year: $267.0M dividends + $41.0M buybacks = $308.0M returned on $952.0M FCF.
Yields use the latest fiscal-year dividends/buybacks over current market cap. Dividends and buybacks from the SEC cash-flow statement; payout coverage vs net income and free cash flow. Educational — not a recommendation.
How management deployed cash over 10 years — and what it earned on reinvestment.
A cash-return story — far more went to shareholders than back into the business (mature, low-reinvestment).
Insufficient data. Current ROIC on all capital: 9%. Rough measure (includes maintenance capex).
Cash uses aggregated from the SEC cash-flow statement over 10 fiscal years. "Return on reinvestment" is a rough proxy — operating-income change ÷ cumulative CapEx + M&A — and includes maintenance capex. Educational — not a recommendation.
No trend data available for this metric.
EOD close · as of 2026-10-30
How a revenue dollar becomes profit — FY2025
Dividends and buybacks are cash paid out, shown here against the same year's profit for scale — not funded from it.
Each value shows its share of revenue below it (common-size).
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $662.0M 100.0% | $639.0M 100.0% | $616.0M 100.0% | $614.0M 100.0% | $575.0M 100.0% | $549.0M 100.0% | $525.0M 100.0% | $508.0M 100.0% | — | — |
| Interest Expense | — | — | $1.51B 245.0% | $185.0M 30.1% | $59.0M 10.3% | $152.0M 27.7% | $411.0M 78.3% | $251.0M 49.4% | $127.0M | $87.0M |
| Interest & Investment Income | — | — | — | — | $311.0M 54.1% | $304.0M 55.4% | $362.0M 69.0% | $350.0M 68.9% | $326.0M | $204.0M |
| Income Tax Expense | $276.0M 41.7% | $228.0M 35.7% | $206.0M 33.4% | $245.0M 39.9% | $317.0M 55.1% | $133.0M 24.2% | $237.0M 45.1% | $259.0M 51.0% | $344.0M | $236.0M |
| Net Income | $899.0M 135.8% | $784.0M 122.7% | $680.0M 110.4% | $907.0M 147.7% | $1.13B 196.3% | $539.0M 98.2% | $816.0M 155.4% | $884.0M 174.0% | $592.0M | $469.0M |
| Per Share | ||||||||||
| EPS (Basic) | $6.01 | $4.95 | $4.35 | $5.80 | $6.80 | $3.06 | $4.41 | $4.36 | $2.71 | $2.00 |
| EPS (Diluted) | $6.01 | $4.95 | $4.35 | $5.79 | $6.79 | $3.02 | $4.16 | $4.08 | $2.60 | $1.99 |
| Weighted Avg Shares (Basic) | 147.1M | 147.2M | 147.7M | 150.1M | 159.9M | 163.7M | 176.0M | 193.6M | 200.8M | 203.9M |
| Weighted Avg Shares (Diluted) | 147.2M | 147.2M | 147.8M | 150.3M | 160.2M | 165.6M | 186.5M | 206.5M | 209.7M | 204.3M |
Source: SEC EDGAR XBRL filings (annual, fiscal year). Quarterly flow items are derived from cumulative filings; balance-sheet figures are as-of each period end. Ratios and margins are computed, not reported.
A reverse discounted cash flow is not shown for a bank.
Funded by deposits, so debt-weighted leverage and a WACC are not defined. Capital adequacy (CET1, LCR) is the right question and is not collected yet.
Classified from the filings: SIC code.
Leverage ratios is not shown for a bank.
Funded by deposits, so debt-weighted leverage and a WACC are not defined. Capital adequacy (CET1, LCR) is the right question and is not collected yet.
Classified from the filings: SIC code.
How much the company owes, how it's trended, and how comfortably it's serviced.
$0 of principal comes due within a year. Scheduled principal only (excludes interest & revolver draws). As of 2024-12-31 (10-K).
Interest expense isn't separately reported — often netted into “other income (expense), net.” Effective rate ~30.7% on $4.92B of debt. Interest last disclosed in FY2023 (no longer broken out).
Cash vs short-term debt unavailable.
Mostly short-term debt (balance-sheet current vs non-current split). See the maturity ladder above for the year-by-year repayment schedule.
Debt, cash, interest and equity from the SEC balance sheet & income statement. Effective rate = interest ÷ average debt. Maturity ladder from the SEC long-term-debt repayment schedule. Educational — not a recommendation.
Top 40 institutional holders — bubble size is position value, color is the move since last quarter. Hover any holder for detail.
Drag any bubble to rearrange · size = dollar value of the position
Total return (dividends reinvested) vs the market, from quarter-end prices.
Above 0 = ahead of the S&P 500 since the window start; below 0 = behind. Rising means it's pulling ahead.
How far the stock fell below its prior peak. Deeper, longer drawdowns = a rougher ride to the same return.
Quarter-end, dividend-adjusted (total return). Beta & volatility from quarterly returns (annualized). Benchmark is the S&P 500 (SPY total return). Annual returns compound the quarters ending in each calendar year; the first and last years in a window may be partial. Past performance doesn't predict future results.
Last reported position per insider, carried forward. Steps can be a holding disclosed for the first time rather than a trade.
| Date | Insider | What it was | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-09-30 | Skonnard Aaron Director | Grant | 538 | $62.65 | — |
| 2026-09-30 | Quinn Stephen D Director | Grant | 774 | $62.65 | — |
| 2026-09-30 | Huang Claire A Director | Grant | 439 | $62.65 | — |
| 2026-09-30 | Lee Vivian S Director | Grant |
Every row is classified by what it MEANT, not by its SEC code. A code is not a meaning: code P (“purchase”) also covers dividend reinvestment and employee stock purchase plans, and code S (“sale”) also covers 10b5-1 plan sales scheduled months earlier and option exercises sold the same day.
Across 30 days of all filings, $5.08bn of insider selling contained $3.50bn of plan sales and $0.46bn of exercise-and-sell. Only 29% was discretionary. Reading an unclassified feed badly overstates how much insiders decided.
Buys and sales are counted separately and never netted. They are different decisions by different people; a company where one officer bought while another sold is not “neutral”.
The holding line carries each insider's last reported position forward, so it shows the total held rather than a sawtooth of whoever traded that day. It covers only insiders who filed in the window.
“Filed late” counts calendar days past the two-business-day deadline with five days' grace, so a Thursday or Friday trade crossing a weekend is never flagged. It describes the company's filing discipline, not the trade.
Insider activity is descriptive. Nothing here is investment advice.
| 399 |
| $62.65 |
| — |
| 2026-08-11 | 2 co-filers Chairman & CEO | Gift | 30,242 | $0.00 | $0 |
| 2026-08-11 | 2 co-filers Chairman & CEO | Giftindirect | 30,242 | $0.00 | $0 |
| 2026-08-04 | 6 co-filers Executive Vice President | Option exercise | 3,705 | $45.65 | $169k |
| 2026-08-04 | 6 co-filers Executive Vice President | Exercise & sell | 3,705 | $72.44 | $268k |
| 2026-08-04 | 6 co-filers Executive Vice President | Option exercise | 903 | $45.65 | $41k |
| 2026-08-04 | 12 co-filers President | Option exercise | 2,055 | $48.65 | $100k |
| 2026-08-04 | 6 co-filers Executive Vice President | Exercise & sell | 903 | $72.36 | $65k |
| 2026-08-04 | 12 co-filers President | Option exercise | 18,820 | $48.65 | $916k |
| 2026-08-04 | 12 co-filers President | Exercise & sell | 18,820 | $70.63 | $1.3m |
| 2026-08-04 | 6 co-filers Executive Vice President | Option exercise | 3,705 | $45.65 | — |
| 2026-08-04 | 6 co-filers Executive Vice President | Option exercise | 903 | $45.65 | — |
| 2026-08-04 | 12 co-filers President | Option exercise | 1,891 | $52.90 | $100k |
| 2026-08-04 | 12 co-filers President | Option exercise | 14,465 | $52.90 | $765k |
| 2026-08-04 | 12 co-filers President | Exercise & sell | 14,465 | $70.63 | $1.0m |
| 2026-08-04 | 12 co-filers President | Option exercise | 2,055 | $48.65 | — |
| 2026-08-04 | 12 co-filers President | Option exercise | 18,820 | $48.65 | — |
| 2026-08-04 | 12 co-filers President | Option exercise | 1,891 | $52.90 | — |
| 2026-08-04 | 12 co-filers President | Option exercise | 14,465 | $52.90 | — |
| 2026-08-03 | 12 co-filers President | Open-market sale | 18,000 | $70.56 | $1.3m |
| 2026-08-03 | 12 co-filers President | Open-market saleindirect | 32,000 | $70.84 | $2.3m |
| 2026-08-03 | 4 co-filers Chairman & CEO | Gift | 172,391 | $0.00 | $0 |
| 2026-08-03 | 4 co-filers Chairman & CEO | Giftindirect | 172,391 | $0.00 | $0 |
| 2026-07-31 | 4 co-filers Chairman & CEO | Gift | 141,720 | $0.00 | $0 |
| 2026-07-31 | 4 co-filers Chairman & CEO | Giftindirect | 141,720 | $0.00 | $0 |
| 2026-07-28 | 3 co-filers Executive Vice President | Option exercise | 894 | $45.65 | $41k |
| 2026-07-28 | Mclean Scott J President | Open-market sale | 6,650 | $0.00 | $0 |
| 2026-07-28 | 3 co-filers Executive Vice President | Exercise & sell | 894 | $69.65 | $62k |
| 2026-07-28 | 3 co-filers Executive Vice President | Option exercise | 894 | $45.65 | — |
| 2026-06-30 | Skonnard Aaron Director | Grant | 432 | $69.19 | — |
| 2026-06-30 | Quinn Stephen D Director | Grant | 699 | $69.19 | — |
| 2026-06-30 | Huang Claire A Director | Grant | 439 | $69.19 | — |
| 2026-06-30 | Lee Vivian S Director | Grant | 414 | $69.19 | — |
| 2026-06-02 | Ryan Daniel Joseph Director | Grant | 1,921 | $62.02 | — |
| 2026-06-02 | Callister Nathan Executive Vice President | Tax withholding | 922 | $62.02 | $57k |
| 2026-05-08 | Smith Jennifer Anne Executive Vice President | Open-market saleindirect | 4,209 | $62.50 | $263k |
| 2026-05-06 | 2 co-filers Controller | Option exercise | 2,004 | $52.90 | $106k |
EOD close · as of 2026-10-30
Where each multiple sits in its own 14-yr range · 88th pct blended
Dot = today · shaded = middle 50% · line = median. Lower percentile = cheaper vs its own 14-yr history.
Is the profit real, and how strong is the balance sheet?
FY2025 · every deduction from revenue to net income
DuPont — the three levers
ROE 13% against ROIC 9% — 4% of the return on equity comes from leverage and buybacks rather than from the operating business.
What the company owes vs. what it holds
This shows debt/cash structure and net leverage. The year-by-year maturity schedule is on the Debt & Leverage tab.
Latest year: profit growth vs revenue growth
Operating leverage needs meaningful revenue change.
Each line as % of revenue — the trend in color
| % of revenue | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Income Tax | 51.0 | 45.1 | 24.2 | 55.1 | 39.9 | 33.4 | 35.7 | 41.7 |
| Net Income | 174.0 | 155.4 | 98.2 | 196.3 | 147.7 | 110.4 | 122.7 | 135.8 |
Green = margin-favorable vs the row's own range · red = unfavorable.
The metrics that matter, over time
A 30-second read on ZION: price, valuation and headline fundamentals from SEC filings. The four questions at the top of the page are where the judgements live.
No positive operating income in the last three years, so there is no return on capital to compare against its cost.
| Fiscal year | Gross margin | Operating margin | Net margin |
|---|---|---|---|
| FY2018 | not reported | not reported | 174.0% |
| FY2019 | not reported | not reported | 155.4% |
| FY2020 | not reported | not reported | 98.2% |
| FY2021 | not reported | not reported | 196.3% |
| FY2022 | not reported | not reported | 147.7% |
| FY2023 | not reported | not reported | 110.4% |
| FY2024 | not reported | not reported | 122.7% |
| FY2025 | not reported | not reported | 135.8% |
Leverage and buybacks account for 4 points of the 13% return on equity in FY2025. The business earns 9% on the capital it employs; the rest is balance sheet.
ROE is on average equity; ROIC is NOPAT over average invested capital (debt plus equity less excess cash). The gap is not a single adjustment.
No material counter-signal in the checked set: ROIC vs WACC spread, 5-year spread history, gross margin trend, operating margin trend, net margin against 3 years ago, revenue growth, ROIC ex-goodwill gap.
Missing from our data, so excluded from this answer: positive EBIT.
Free cash flow of $952M exceeds revenue of $662M, so the cash flow statement is carrying customer balances rather than earnings. Cash conversion cannot be read here.
Banks, brokers, insurers and payment companies run customer money through operating cash flow. Treat free cash flow, FCF yield and any DCF on this company as unreliable.
Missing from our data, so excluded from this answer: free cash flow attributable to the company.
Leverage is not measurable this way for a bank.
This schedule comes from a filing dated 2024-12-31, 669 days old. Maturities are shown relative to that date, not to today.
Ladder as of 2024-12-31 (10-K); cash from the 2024-12-31 balance sheet; FCF from FY2024. No cash figure on the matching balance sheet, so no coverage line is drawn.
Funded by deposits, so debt-weighted leverage and a WACC are not defined. Capital adequacy (CET1, LCR) is the right question and is not collected yet.
Missing from our data, so excluded from this answer: capital adequacy metrics for this archetype.
At $65.37, free cash flow must compound 3.01%/yr for 10 years. It has done 8.79%/yr over 6 years after stock compensation.
| Fiscal year | FCF growth | Price requires |
|---|---|---|
| FY2020 | −5.6% | 3.0% |
| FY2021 | −24.3% | 3.0% |
| FY2022 | 216.5% | 3.0% |
| FY2023 | −40.9% | 3.0% |
| FY2024 | 37.8% | 3.0% |
| FY2025 | −9.9% | 3.0% |
The cost of capital could not be computed for this company, so the requirement is solved at the published 10% default — a different rate would move it materially.