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

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 given a dividend of 0.41 per share by the bank on Thursday, May 23rd. This represents a $1.64 annualized dividend and a yield of 3.93%.

Zions Bancorporation, National Association has raised its dividend by an average of 6.4% per year over the last three years. Zions Bancorporation, National Association has a dividend payout ratio of 35.2% indicating that 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 Price Performance

Shares of NASDAQ:ZION opened at $41.76 on Friday. The company has a market capitalization of $6.16 billion, a PE ratio of 10.49 and a beta of 1.13. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.80 and a current ratio of 0.77. The stock has a fifty day moving average of $40.88 and a 200-day moving average of $39.35. Zions Bancorporation, National Association has a one year low of $18.26 and a one year high of $46.15.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Friday, April 26th. The bank reported $0.96 EPS for the quarter, missing the consensus estimate of $1.00 by ($0.04). The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $747.21 million. Zions Bancorporation, National Association had a net margin of 13.23% and a return on equity of 14.05%. During the same period in the prior year, the company earned $1.33 earnings per share. As a group, equities analysts anticipate that Zions Bancorporation, National Association will post 4.36 EPS for the current fiscal year.

Insider Transactions at Zions Bancorporation, National Association

In other news, CEO Harris H. Simmons purchased 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 27th. The shares were acquired at an average cost of $38.54 per share, for a total transaction of $154,160.00. Following the transaction, the chief executive officer now directly owns 1,312,987 shares of the company’s stock, valued at approximately $50,602,518.98. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Zions Bancorporation, National Association news, CEO Harris H. Simmons purchased 4,000 shares of the stock in a transaction on Tuesday, February 27th. The stock was bought at an average cost of $38.54 per share, for a total transaction of $154,160.00. Following the completion of the acquisition, the chief executive officer now directly owns 1,312,987 shares of the company’s stock, valued at $50,602,518.98. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 value 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 in the last three months. Insiders own 2.22% of the company’s stock.

Wall Street Analysts Forecast Growth

ZION has been the topic of a number of recent analyst reports. Jefferies Financial Group cut their price target on shares of Zions Bancorporation, National Association from $47.00 to $45.00 and set a “hold” rating on the stock in a report on Monday, April 8th. TheStreet upgraded Zions Bancorporation, National Association from a “c+” rating to a “b-” rating in a report on Wednesday, January 3rd. Royal Bank of Canada raised their price objective on Zions Bancorporation, National Association from $46.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Tuesday. Morgan Stanley increased 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. Finally, JPMorgan Chase & Co. increased their price objective on Zions Bancorporation, National Association from $49.50 to $52.00 and gave the stock a “neutral” rating in a report on Thursday, April 4th. Three analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Zions Bancorporation, National Association presently has an average rating of “Hold” and a consensus price target 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.