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

Zions Bancorporation, National Association (NASDAQ:ZIONGet Free Report) announced a quarterly dividend on Friday, February 2nd, RTT News reports. Stockholders of record on Thursday, February 15th will be paid a dividend of 0.41 per share by the bank on Thursday, February 22nd. This represents a $1.64 annualized dividend and a dividend yield of 3.98%. The ex-dividend date is Wednesday, February 14th.

Zions Bancorporation, National Association has raised its dividend by an average of 6.4% annually over the last three years. Zions Bancorporation, National Association has a payout ratio of 35.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Zions Bancorporation, National Association to earn $4.52 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 36.3%.

Zions Bancorporation, National Association Stock Performance

NASDAQ ZION opened at $41.24 on Tuesday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.76 and a quick ratio of 0.76. Zions Bancorporation, National Association has a 1-year low of $18.26 and a 1-year high of $53.15. The business has a 50 day simple moving average of $42.14 and a two-hundred day simple moving average of $37.37. The stock has a market capitalization of $6.11 billion, a PE ratio of 9.48 and a beta of 1.15.

Zions Bancorporation, National Association (NASDAQ:ZIONGet Free Report) last posted its earnings results on Monday, January 22nd. The bank reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.10). Zions Bancorporation, National Association had a net margin of 14.71% and a return on equity of 15.33%. The business had revenue of $1.19 billion during the quarter, compared to analysts’ expectations of $754.81 million. During the same period last year, the business posted $1.84 earnings per share. On average, research analysts predict that Zions Bancorporation, National Association will post 4.32 EPS for the current fiscal year.

Insider Transactions at Zions Bancorporation, National Association

In other news, CEO Harris H. Simmons acquired 3,600 shares of Zions Bancorporation, National Association stock in a transaction on Tuesday, February 6th. The shares were bought at an average cost of $38.99 per share, for a total transaction of $140,364.00. Following the acquisition, the chief executive officer now directly owns 1,261,866 shares of the company’s stock, valued at approximately $49,200,155.34. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Zions Bancorporation, National Association news, CEO Harris H. Simmons acquired 3,600 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was bought at an average cost of $38.99 per share, with a total value of $140,364.00. Following the completion of the purchase, the chief executive officer now directly owns 1,261,866 shares in the company, valued at $49,200,155.34. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP A Scott Anderson sold 832 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $39.24, for a total transaction of $32,647.68. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,970 shares of company stock valued at $253,807. 1.81% of the stock is currently owned by company insiders.

Institutional Trading of Zions Bancorporation, National Association

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Stifel Financial Corp boosted its position in Zions Bancorporation, National Association by 4.6% during the fourth quarter. Stifel Financial Corp now owns 20,017 shares of the bank’s stock valued at $878,000 after purchasing an additional 881 shares in the last quarter. UBS Group AG grew its position in shares of Zions Bancorporation, National Association by 187.1% in the 4th quarter. UBS Group AG now owns 105,504 shares of the bank’s stock worth $4,628,000 after buying an additional 226,583 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Zions Bancorporation, National Association by 12.1% during the 3rd quarter. Public Sector Pension Investment Board now owns 16,039 shares of the bank’s stock worth $560,000 after acquiring an additional 1,729 shares in the last quarter. Comerica Bank purchased a new stake in Zions Bancorporation, National Association during the third quarter valued at approximately $894,000. Finally, Morgan Stanley boosted its stake in Zions Bancorporation, National Association by 19.8% in the third quarter. Morgan Stanley now owns 4,513,266 shares of the bank’s stock valued at $157,468,000 after acquiring an additional 745,919 shares in the last quarter. Institutional investors own 79.74% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ZION shares. Robert W. Baird reduced their target price on shares of Zions Bancorporation, National Association from $50.00 to $48.00 and set a “neutral” rating on the stock in a report on Tuesday, January 23rd. Wedbush decreased their price objective on Zions Bancorporation, National Association from $48.00 to $46.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 23rd. Citigroup reiterated a “neutral” rating and issued a $37.00 target price on shares of Zions Bancorporation, National Association in a report on Tuesday, November 21st. Truist Financial downgraded Zions Bancorporation, National Association from a “buy” rating to a “hold” rating and cut their target price for the company from $51.00 to $46.00 in a research report on Friday, January 5th. Finally, JPMorgan Chase & Co. lowered their price target on Zions Bancorporation, National Association from $40.00 to $39.00 and set a “neutral” rating for the company in a research report on Thursday, October 19th. Three analysts have rated the stock with a sell rating, fourteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $40.79.

Check Out Our Latest Stock Report on ZION

Zions Bancorporation, National Association Company Profile

(Get Free Report)

Zions Bancorporation, National Association provides various banking and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers corporate banking services; commercial banking, including a focus on small- and medium-sized businesses; commercial real estate banking services; municipal and public finance services; retail banking, including residential mortgages; trust services; wealth management and private client banking services; and capital markets products and services.

Further Reading

Dividend History for Zions Bancorporation, National Association (NASDAQ:ZION)

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