Zions Bancorporation, National Association (NASDAQ:ZION) Raises Dividend to $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 yield of 2.83%. The ex-dividend date of this dividend is Thursday, November 14th. 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 annually for the last 11 consecutive years. Zions Bancorporation, National Association has a dividend payout ratio of 35.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Zions Bancorporation, National Association to earn $4.88 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 35.2%.

Zions Bancorporation, National Association Price Performance

ZION stock opened at $60.79 on Wednesday. The company’s 50-day moving average price is $49.63 and its two-hundred day moving average price is $46.73. The firm has a market cap of $8.98 billion, a P/E ratio of 13.60, a P/E/G ratio of 5.35 and a beta of 1.07. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58. Zions Bancorporation, National Association has a 12 month low of $33.66 and a 12 month high of $61.08.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its quarterly earnings data on Monday, October 21st. The bank reported $1.37 EPS for the quarter, beating the consensus estimate of $1.16 by $0.21. Zions Bancorporation, National Association had a net margin of 14.09% and a return on equity of 13.89%. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $781.63 million. During the same period in the previous year, the business earned $1.13 earnings per share. On average, analysts anticipate that Zions Bancorporation, National Association will post 4.82 earnings per share for the current fiscal year.

Insider Activity at Zions Bancorporation, National Association

In other news, EVP Jennifer Anne Smith sold 4,385 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total value of $234,422.10. Following the transaction, the executive vice president now owns 24,714 shares in the company, valued at approximately $1,321,210.44. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Eric Ellingsen sold 1,238 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the sale, the vice president now owns 35,878 shares of the company’s stock, valued at $2,182,817.52. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Jennifer Anne Smith sold 4,385 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $53.46, for a total value of $234,422.10. Following the completion of the transaction, the executive vice president now directly owns 24,714 shares in the company, valued at approximately $1,321,210.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,228 shares of company stock worth $519,048 over the last ninety days. Insiders own 2.22% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Barclays raised their price objective on Zions Bancorporation, National Association from $47.00 to $52.00 and gave the company an “underweight” rating in a research note on Tuesday, October 22nd. Wells Fargo & Company lifted their price target on shares of Zions Bancorporation, National Association from $50.00 to $54.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. Argus downgraded shares of Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research note on Thursday, July 25th. StockNews.com raised shares of Zions Bancorporation, National Association from a “sell” rating to a “hold” rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. dropped their price target on Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Zions Bancorporation, National Association has a consensus rating of “Hold” and a consensus target price of $53.12.

Zions Bancorporation, National Association Company Profile

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.