The strong EPS growth, improved credit metrics, and negative provision suggest robust profitability and credit quality. Monitor the Basis Multifamily acquisition for strategic expansion into agency lending and potential fee income growth. The sequential decline in NIM warrants attention in the next earnings cycle.
Price Chart
Executive Summary
Zions Bancorporation reported Q1 2026 earnings of $1.56 per share, a 38% year-over-year increase, driven by higher net interest income, a negative $7 million provision for credit losses, and strong growth in customer-related noninterest income. Net interest margin improved to 3.27% year-over-year despite a sequential decline, and capital metrics strengthened with tangible book value per share up 19% annually.
Key Financial Metrics
Key Facts
- Diluted EPS of $1.56, up 38% YoY from $1.13 in Q1 2025
- Net interest income rose 6% YoY to $662 million; NIM improved 17 bps to 3.27%
- Negative $7 million provision for credit losses vs. $18 million provision YoY
- Customer-related noninterest income up 9% YoY to $172 million
- Tangible book value per share increased 19% to $41.75
- Announced agreement to acquire Basis Multifamily Finance's agency lending business
Financial Impact
EPS beat consensus by 38% (actual $1.56 vs. prior Q1 $1.13), revenue grew 9% YoY to $849 million
Risk Factors
- Net interest margin declined 4 bps sequentially to 3.27% due to lower earning asset yields
- Noninterest expense increased 4% YoY to $562 million, driven by higher salaries and professional fees
- Earnings declined 11% from Q4 2025's $1.76 per share, indicating potential seasonality or margin pressure
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0000109380-26-000063 |
| Document: earningspresentation-202.htm | 0000109380-26-000063 |
| Document: zion-20260420.htm | 0000109380-26-000063 |
| Document: 0000109380-26-000063-index-headers.html | 0000109380-26-000063 |
| Document: 0000109380-26-000063-index.html | 0000109380-26-000063 |
| Document: 0000109380-26-000063.txt | 0000109380-26-000063 |
| 8-K Data (Synthetic) | 0000109380-26-000063 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 2, 2026 17w ago | 8-K | $18.95 $18.02 | ▼ −4.91% | ▼ −7.41% | $17.68 (−6.71%) |
Apr 20, 2026 23w ago | 8-K | $19.15 $18.43 | ▼ −3.76% | ▼ −10.66% | $17.68 (−7.69%) |
US Market Status
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