Zions Bancorporation, National Association (NASDAQ:ZION) Declares Dividend Increase – $0.43 Per Share

Zions Bancorporation, National Association (NASDAQ:ZION) announced a quarterly dividend on Friday, November 1st, RTT News reports. Investors of record on Thursday, November 14th will be given a dividend of 0.43 per share by the bank on Thursday, November 21st. This represents a $1.72 annualized dividend and a dividend yield of 3.34%. This is a boost from Zions Bancorporation, National Association’s previous quarterly dividend of $0.41.

Zions Bancorporation, National Association has increased its dividend payment by an average of 6.4% per year over the last three years and has increased its dividend every year for the last 11 years. Zions Bancorporation, National Association has a payout ratio of 33.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Zions Bancorporation, National Association to earn $4.87 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 33.7%.

Zions Bancorporation, National Association Price Performance

ZION opened at $51.44 on Friday. The company’s 50 day simple moving average is $48.53 and its 200 day simple moving average is $45.86. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.78 and a current ratio of 0.78. Zions Bancorporation, National Association has a 1 year low of $31.63 and a 1 year high of $53.85. The stock has a market capitalization of $7.60 billion, a PE ratio of 11.72, a P/E/G ratio of 1.84 and a beta of 1.07.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, beating analysts’ consensus estimates of $1.16 by $0.21. The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $781.63 million. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. During the same period in the previous year, the company posted $1.13 earnings per share. As a group, sell-side analysts expect that Zions Bancorporation, National Association will post 4.79 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ZION shares. Jefferies Financial Group reduced their target price on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a research report on Wednesday, September 11th. StockNews.com upgraded shares of Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Truist Financial lifted their price target on shares of Zions Bancorporation, National Association from $52.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Stephens lifted their price target on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price target on shares of Zions Bancorporation, National Association from $55.00 to $57.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eighteen have given a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $53.12.

Insider Activity

In other news, EVP Jennifer Anne Smith sold 4,385 shares of the business’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total transaction of $234,422.10. Following the completion of the transaction, the executive vice president now owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate 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.