Zions Bancorporation, National Association (NASDAQ:ZION) to Issue Quarterly Dividend of $0.43

Zions Bancorporation, National Association (NASDAQ:ZION) declared a quarterly dividend on Friday, November 1st, RTT News reports. Shareholders 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 dividend on an annualized basis and a 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 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 33.6% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 1.2 %

NASDAQ ZION traded down $0.62 during trading hours on Friday, reaching $51.44. 938,480 shares of the company traded hands, compared to its average volume of 2,089,483. Zions Bancorporation, National Association has a 12 month low of $31.63 and a 12 month high of $53.85. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.09. The stock has a market capitalization of $7.60 billion, a PE ratio of 11.86, a PEG ratio of 1.87 and a beta of 1.09. The company has a 50 day moving average of $48.50 and a two-hundred day moving average of $45.78.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Monday, October 21st. The bank reported $1.37 earnings per share for the quarter, topping analysts’ consensus estimates of $1.16 by $0.21. The company 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 prior year, the company earned $1.13 earnings per share. As a group, equities analysts expect that Zions Bancorporation, National Association will post 4.79 earnings per share for the current year.

Insider Activity

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 4,385 shares of Zions Bancorporation, National Association stock in a transaction on Wednesday, October 30th. The stock was 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 directly owns 24,714 shares of the company’s stock, valued at approximately $1,321,210.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Zions Bancorporation, National Association from $50.00 to $54.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 22nd. Jefferies Financial Group decreased their target price on shares of Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating for the company in a research report on Wednesday, September 11th. Argus lowered shares of Zions Bancorporation, National Association from a “buy” rating to a “hold” rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. reduced their price objective on shares of Zions Bancorporation, National Association from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Stephens raised their price objective on shares of Zions Bancorporation, National Association from $53.00 to $55.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average 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.