Zions Bancorporation, National Association (NASDAQ:ZION) to Issue Quarterly Dividend of $0.41

Zions Bancorporation, National Association (NASDAQ:ZION) declared a quarterly dividend on Friday, April 26th, RTT News reports. Shareholders of record on Thursday, May 16th will be paid 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 yield of 3.88%.

Zions Bancorporation, National Association has increased its dividend by an average of 6.4% per year over the last three years. Zions Bancorporation, National Association has a payout ratio of 35.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect Zions Bancorporation, National Association to earn $4.60 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 35.7%.

Zions Bancorporation, National Association Stock Up 2.3 %

Shares of NASDAQ ZION traded up $0.96 during trading on Friday, reaching $42.23. 1,135,104 shares of the stock were exchanged, compared to its average volume of 2,984,606. The business’s 50-day moving average price is $40.86 and its 200 day moving average price is $39.30. Zions Bancorporation, National Association has a twelve month low of $18.26 and a twelve month high of $46.15. The company has a quick ratio of 0.80, a current ratio of 0.77 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $6.23 billion, a price-to-earnings ratio of 10.37 and a beta of 1.13.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its quarterly earnings results on Monday, April 22nd. The bank reported $0.96 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.00 by ($0.04). The company had revenue of $1.21 billion during the quarter, compared to the consensus estimate 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 quarter last year, the firm posted $1.33 EPS. As a group, equities analysts forecast that Zions Bancorporation, National Association will post 4.3 EPS for the current fiscal year.

Insider Activity

In other news, EVP Steven Dan Stephens sold 7,500 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $40.81, for a total value of $306,075.00. Following the completion of the sale, the executive vice president now directly owns 44,056 shares of the company’s stock, valued at $1,797,925.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP A Scott Anderson sold 832 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $39.24, for a total value of $32,647.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven Dan Stephens sold 7,500 shares of Zions Bancorporation, National Association stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $40.81, for a total value of $306,075.00. Following the completion of the sale, the executive vice president now owns 44,056 shares of the company’s stock, valued at $1,797,925.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 13,929 shares of company stock valued at $563,778. 2.22% of the stock is owned by company insiders.

Analysts Set New Price Targets

ZION has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Zions Bancorporation, National Association in a research report on Wednesday, April 10th. They set a “hold” rating and a $47.00 price target for the company. Morgan Stanley upped their price target on shares of Zions Bancorporation, National Association from $32.00 to $40.00 and gave the stock an “underweight” rating in a research report on Wednesday, February 7th. Jefferies Financial Group lowered their price target on shares of Zions Bancorporation, National Association from $47.00 to $45.00 and set a “hold” rating for the company in a research report on Monday, April 8th. Truist Financial restated a “hold” rating and set a $46.00 price target on shares of Zions Bancorporation, National Association in a research report on Monday, April 1st. Finally, Stephens upped their price target on shares of Zions Bancorporation, National Association from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 23rd. Three analysts have rated the stock with a sell rating, fifteen have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $43.16.

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.