Zions Bancorporation, National Association (ZION) to Distribute Quarterly Dividend of $0.41 on May 23rd

Zions Bancorporation, National Association (NASDAQ:ZION) declared a quarterly dividend on Friday, April 26th, RTT News reports. Stockholders of record on Thursday, May 16th will be given 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 dividend yield of 3.93%.

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 dividend payout ratio of 35.2% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Zions Bancorporation, National Association to earn $4.62 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 35.5%.

Zions Bancorporation, National Association Stock Up 1.2 %

ZION opened at $41.76 on Friday. The firm has a 50 day moving average price of $40.88 and a 200 day moving average price of $39.38. The company has a market cap of $6.16 billion, a PE ratio of 10.49 and a beta of 1.13. Zions Bancorporation, National Association has a 1 year low of $18.26 and a 1 year high of $46.15. 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 (NASDAQ:ZION) last posted its earnings results on Friday, April 26th. The bank reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.04). The business had revenue of $1.21 billion for the quarter, compared to analyst estimates of $747.21 million. Zions Bancorporation, National Association had a return on equity of 14.05% and a net margin of 13.23%. During the same period last year, the company posted $1.33 EPS. Sell-side analysts expect that Zions Bancorporation, National Association will post 4.38 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have issued reports on ZION shares. Evercore ISI increased their price objective on shares of Zions Bancorporation, National Association from $47.00 to $48.00 and gave the company an “outperform” rating in a research report on Thursday, March 28th. TheStreet raised shares of Zions Bancorporation, National Association from a “c+” rating to a “b-” rating in a research report on Wednesday, January 3rd. Morgan Stanley increased their price objective on shares of Zions Bancorporation, National Association from $32.00 to $40.00 and gave the company an “underweight” rating in a research report on Wednesday, February 7th. Truist Financial reaffirmed a “hold” rating and issued a $46.00 price objective on shares of Zions Bancorporation, National Association in a research report on Monday, April 1st. Finally, Deutsche Bank Aktiengesellschaft started coverage on shares of Zions Bancorporation, National Association in a research report on Wednesday, April 10th. They issued a “hold” rating and a $47.00 price objective for the company. Three analysts have rated the stock with a sell rating, fifteen have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Zions Bancorporation, National Association currently has an average rating of “Hold” and a consensus target price of $43.16.

Insider Buying and Selling

In other news, CEO Harris H. Simmons acquired 3,600 shares of Zions Bancorporation, National Association stock in a transaction that occurred on Tuesday, February 6th. The shares were purchased at an average cost of $38.99 per share, for a total transaction of $140,364.00. Following the completion of the purchase, the chief executive officer now directly owns 1,261,866 shares of the company’s stock, valued at approximately $49,200,155.34. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Harris H. Simmons acquired 3,600 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average price of $38.99 per share, with a total value of $140,364.00. Following the acquisition, 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 SEC, which can be accessed through the SEC website. Also, VP A Scott Anderson sold 832 shares of Zions Bancorporation, National Association 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. Insiders have sold 13,929 shares of company stock worth $563,778 over the last ninety days. 2.22% of the stock is owned by insiders.

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.