Zions Bancorporation, National Association Declares Quarterly Dividend of $0.41 (NASDAQ:ZION)

Zions Bancorporation, National Association (NASDAQ:ZION) announced a quarterly dividend on Friday, April 26th, RTT News reports. Shareholders of record on Thursday, May 16th will be paid a dividend of 0.41 per share by the bank on Thursday, May 23rd. This represents a $1.64 dividend on an annualized basis and a yield of 3.88%.

Zions Bancorporation, National Association has increased its dividend by an average of 6.4% annually over the last three years. Zions Bancorporation, National Association has a dividend payout ratio of 35.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Zions Bancorporation, National Association to earn $4.60 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 35.7%.

Zions Bancorporation, National Association Stock Up 2.3 %

Zions Bancorporation, National Association stock traded up $0.96 during mid-day trading on Friday, reaching $42.23. The stock had a trading volume of 1,135,104 shares, compared to its average volume of 2,984,606. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.80 and a current ratio of 0.77. Zions Bancorporation, National Association has a fifty-two week low of $18.26 and a fifty-two week high of $46.15. The firm has a market capitalization of $6.23 billion, a PE ratio of 10.37 and a beta of 1.13. The stock’s 50-day simple moving average is $40.86 and its 200-day simple moving average is $39.30.

Zions Bancorporation, National Association (NASDAQ:ZION) last released its quarterly earnings data on Monday, April 22nd. The bank reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.04). Zions Bancorporation, National Association had a net margin of 13.23% and a return on equity of 14.05%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $747.21 million. During the same quarter in the previous year, the firm posted $1.33 earnings per share. On average, sell-side analysts forecast that Zions Bancorporation, National Association will post 4.3 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Barclays boosted their target price on Zions Bancorporation, National Association from $35.00 to $47.00 and gave the stock an “underweight” rating in a research report on Tuesday, January 2nd. Truist Financial reiterated a “hold” rating and issued a $46.00 price objective on shares of Zions Bancorporation, National Association in a report on Monday, April 1st. Jefferies Financial Group cut their price objective on Zions Bancorporation, National Association from $47.00 to $45.00 and set a “hold” rating for the company in a report on Monday, April 8th. TheStreet upgraded Zions Bancorporation, National Association from a “c+” rating to a “b-” rating in a report on Wednesday, January 3rd. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Zions Bancorporation, National Association in a report on Wednesday, April 10th. They set a “hold” rating and a $47.00 target price for the company. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $43.16.

Insider Buying and Selling at Zions Bancorporation, National Association

In other news, CEO Harris H. Simmons bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average price of $38.54 per share, with a total value of $154,160.00. Following the transaction, the chief executive officer now owns 1,312,987 shares of the company’s stock, valued at $50,602,518.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Harris H. Simmons bought 4,000 shares of the firm’s stock in a transaction dated Tuesday, February 27th. The stock was purchased at an average price of $38.54 per share, with a total value of $154,160.00. Following the transaction, the chief executive officer now owns 1,312,987 shares of the company’s stock, valued at $50,602,518.98. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Steven Dan Stephens sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $40.81, for a total value of $306,075.00. Following the completion of the sale, the executive vice president now owns 44,056 shares in the company, valued at approximately $1,797,925.36. The disclosure for this sale can be found here. Insiders sold 13,929 shares of company stock valued at $563,778 in the last 90 days. Insiders own 2.22% of the company’s stock.

About Zions Bancorporation, National Association

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.