Zions Bancorporation NA (ZION) to Issue $0.30 Quarterly Dividend

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Zions Bancorporation NA (NASDAQ:ZION) declared a quarterly dividend on Friday, February 1st, RTT News reports. Stockholders of record on Thursday, February 14th will be given a dividend of 0.30 per share by the bank on Thursday, February 21st. This represents a $1.20 dividend on an annualized basis and a dividend yield of 2.43%. The ex-dividend date of this dividend is Wednesday, February 13th.

Zions Bancorporation NA has increased its dividend payment by an average of 67.8% per year over the last three years and has increased its dividend every year for the last 6 years. Zions Bancorporation NA has a dividend payout ratio of 30.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Zions Bancorporation NA to earn $4.82 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 24.9%.

Zions Bancorporation NA stock opened at $49.42 on Tuesday. The firm has a market cap of $9.42 billion, a PE ratio of 12.11, a price-to-earnings-growth ratio of 1.37 and a beta of 1.51. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.10. Zions Bancorporation NA has a 1-year low of $38.08 and a 1-year high of $59.19.

Zions Bancorporation NA (NASDAQ:ZION) last released its quarterly earnings results on Tuesday, January 22nd. The bank reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.02. The business had revenue of $716.00 million for the quarter, compared to the consensus estimate of $712.48 million. Zions Bancorporation NA had a net margin of 29.14% and a return on equity of 12.57%. During the same quarter last year, the firm earned $0.80 EPS. On average, research analysts expect that Zions Bancorporation NA will post 4.43 EPS for the current year.

A number of research firms have recently weighed in on ZION. Raymond James raised their price target on shares of Zions Bancorporation NA from $56.00 to $57.00 and gave the company a “buy” rating in a report on Monday, October 29th. Wedbush raised their price target on shares of Zions Bancorporation NA from $44.00 to $50.00 and gave the company a “neutral” rating in a report on Wednesday, January 23rd. SunTrust Banks raised their price target on shares of Zions Bancorporation NA to $52.00 and gave the company a “buy” rating in a report on Tuesday, October 23rd. They noted that the move was a valuation call. Robert W. Baird upgraded shares of Zions Bancorporation NA from an “underperform” rating to a “neutral” rating and set a $49.00 price target on the stock in a report on Tuesday, October 23rd. Finally, ValuEngine upgraded shares of Zions Bancorporation NA from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Nine equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $56.79.

In related news, insider Jennifer Anne Smith sold 7,746 shares of Zions Bancorporation NA stock in a transaction on Monday, January 28th. The shares were sold at an average price of $48.28, for a total value of $373,976.88. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Steven Dan Stephens sold 8,000 shares of the business’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $48.20, for a total transaction of $385,600.00. The disclosure for this sale can be found here. Insiders sold a total of 16,983 shares of company stock worth $819,534 in the last quarter. Insiders own 1.60% of the company’s stock.

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Zions Bancorporation NA Company Profile

Zions Bancorporation, National Association provides various banking and related services primarily in Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. The company offers community banking services, such as small and medium-sized business and corporate banking; commercial and residential development, construction, and term lending; retail banking; treasury cash management and related products and services; residential mortgage servicing and lending services; trust and wealth management services; capital markets services, including municipal finance advisory and underwriting; and investment services.

Further Reading: How can you know how many shares are floating?

Dividend History for Zions Bancorporation NA (NASDAQ:ZION)

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