Why did Zions resume buybacks in Q2 2026 after none in Q2 2025?

The filing does not explicitly explain the decision to resume buybacks. However, the company cited stronger profitability (Q2 2026 earnings of $452 million vs. $243 million in Q2 2025) and an improved CET1 capital ratio (11.8% vs. 11.0% a year prior), which likely provided both earnings accretion and regulatory capital capacity to support capital returns.

What is the average price paid per share in Q2 2026?

Based on the filing, Zions repurchased 1.2 million shares for $75 million, yielding an average price of approximately $62.50 per share. The weighted-average share price for the quarter was $62.82.

Did Zions announce a new buyback authorization in this filing?

No. This earnings release (8-K/Item 2.02) reports only the execution of repurchases during Q2 2026. The filing contains no announcement of a new buyback authorization, expansion, or amendment to an existing program.

How much capital did Zions return to shareholders in Q2 2026?

Total capital distributions to common shareholders were $142 million in Q2 2026, comprised of $67 million in dividends (at $0.45 per share, up from $0.43 a year prior) and $75 million in share repurchases.

Are the repurchased shares attributable only to open-market purchases?

No. The filing discloses that the 1.2 million shares repurchased 'includes amounts related to common shares acquired through our publicly announced plans and those acquired in connection with our stock compensation plan' to cover employee payroll taxes and stock option exercise costs. The breakdown between open-market and plan-related repurchases is not separately detailed in this filing.

What is the impact on weighted-average diluted shares outstanding?

Weighted-average diluted common shares outstanding declined to 146.2 million in Q2 2026 from 147.1 million in Q2 2025, a reduction of 843,000 shares or approximately 0.6%. The year-end common share count fell from 147.6 million to 145.9 million, reflecting the cumulative effect of the Q2 repurchases and potential buyback activity in Q1 2026.

ZIONP 8-K Filed 2026-07-20 Execution disclosure

Zions repurchased 1.2M shares for $75M in Q2 2026

Bank resumed buybacks after no repurchases in prior-year quarter; 1.7M shares retired year-over-year.

Shares repurchased1.2M

Avg price paid$62.50

MechanismNot specified

What the filing says

Zions Bancorporation, N.A. repurchased 1.2 million common shares for $75 million during the second quarter of 2026, marking a resumption of share-repurchase activity following no buybacks in the prior-year period. The repurchases occurred at an average price of approximately $62.50 per share and were executed under the company's publicly announced repurchase program.

Year-over-year, common shares outstanding declined 1.7 million shares, from 147.6 million at June 30, 2025, to 145.9 million at June 30, 2026. The filing notes that repurchases in the current period include shares acquired through the company's stock compensation plan to cover employee payroll taxes and stock option exercise costs, alongside open-market repurchases.

The company also increased its quarterly common dividend to $0.45 per share in the second quarter of 2026, compared with $0.43 per share in the prior-year period. Total capital distributions to common shareholders were $142 million in Q2 2026, consisting of $67 million in dividends paid and $75 million in share repurchases.

During the second quarter of 2026, we repurchased 1.2 million common shares outstanding for $75 million. We did not repurchase any common shares during the prior year period. — ZIONS BANCORPORATION, NATIONAL ASSOCIATION /UT/ 8-K filing · View on SEC EDGAR →

What this means

Zions resumed a modest share-repurchase program in Q2 2026 after avoiding buybacks in the comparable 2025 quarter, returning capital to shareholders alongside a dividend increase. The $75 million outlay and 1.2 million shares retired represent a small reduction in the share count and dilution relative to the bank's 146 million weighted-average diluted shares outstanding in the quarter. Year-over-year, the company reduced shares by 1.7 million—a 1% decline—while growing tangible book value per share 22% to $44.74, driven primarily by retained earnings accretion and improved accumulated other comprehensive income. The buyback reflects improved profitability in the period, with net earnings of $452 million (up 86% from Q2 2025) and a strengthened CET1 capital ratio of 11.8%, up from 11.0% a year prior.

Frequently asked questions

Why did Zions resume buybacks in Q2 2026 after none in Q2 2025?: The filing does not explicitly explain the decision to resume buybacks. However, the company cited stronger profitability (Q2 2026 earnings of $452 million vs. $243 million in Q2 2025) and an improved CET1 capital ratio (11.8% vs. 11.0% a year prior), which likely provided both earnings accretion and regulatory capital capacity to support capital returns.
What is the average price paid per share in Q2 2026?: Based on the filing, Zions repurchased 1.2 million shares for $75 million, yielding an average price of approximately $62.50 per share. The weighted-average share price for the quarter was $62.82.
Did Zions announce a new buyback authorization in this filing?: No. This earnings release (8-K/Item 2.02) reports only the execution of repurchases during Q2 2026. The filing contains no announcement of a new buyback authorization, expansion, or amendment to an existing program.
How much capital did Zions return to shareholders in Q2 2026?: Total capital distributions to common shareholders were $142 million in Q2 2026, comprised of $67 million in dividends (at $0.45 per share, up from $0.43 a year prior) and $75 million in share repurchases.
Are the repurchased shares attributable only to open-market purchases?: No. The filing discloses that the 1.2 million shares repurchased 'includes amounts related to common shares acquired through our publicly announced plans and those acquired in connection with our stock compensation plan' to cover employee payroll taxes and stock option exercise costs. The breakdown between open-market and plan-related repurchases is not separately detailed in this filing.
What is the impact on weighted-average diluted shares outstanding?: Weighted-average diluted common shares outstanding declined to 146.2 million in Q2 2026 from 147.1 million in Q2 2025, a reduction of 843,000 shares or approximately 0.6%. The year-end common share count fell from 147.6 million to 145.9 million, reflecting the cumulative effect of the Q2 repurchases and potential buyback activity in Q1 2026.

execution mid-cap-bank Q2-2026 capital-return dividend-increase

Source. This editorial summary is based on the SEC filing linked above. BuybackStocks aggregates and editorializes publicly available SEC EDGAR filings. Not investment advice. Past authorization announcements do not guarantee future repurchase activity or share price performance. See our full disclosures policy.