Is Zions Bancorporation, NA overvalued or undervalued?

As of 7 November 2025, the valuation grade for Zions Bancorporation, NA has moved from fair to attractive, indicating a more favorable outlook for the stock. The company appears undervalued, supported by a P/E ratio of 9, a Price to Book Value of 1.15, and a PEG Ratio of 0.33, all of which suggest that the stock is trading at a discount relative to its earnings growth potential.
In comparison to peers, Comerica, Inc. has a significantly higher P/E ratio of 21.53, while BOK Financial Corp. stands at 15.16, highlighting Zions' relative undervaluation. Additionally, the company has a solid ROCE of 15.44% and a dividend yield of 3.46%. Despite recent underperformance with a 1-year return of -9.23% compared to the S&P 500's 12.65%, the long-term outlook remains positive, as evidenced by a 5-year return of 63.51%, albeit still trailing the S&P 500's 91.73%.