Zions Bancorporation, National Association (NASDAQ:ZION) Plans Dividend Increase – $0.43 Per Share

Zions Bancorporation, National Association (NASDAQ:ZION) announced a quarterly dividend on Friday, November 1st,RTT News reports. Stockholders of record on Thursday, November 14th will be paid a dividend of 0.43 per share by the bank on Thursday, November 21st. This represents a $1.72 annualized dividend and a dividend yield of 2.83%. The ex-dividend date is Thursday, November 14th. This is an increase 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 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 Stock Up 1.8 %

Shares of NASDAQ ZION opened at $60.79 on Wednesday. Zions Bancorporation, National Association has a 12-month low of $33.66 and a 12-month high of $61.08. The firm’s 50-day simple moving average is $49.63 and its 200 day simple moving average is $46.73. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.58. The company has a market cap of $8.98 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 5.35 and a beta of 1.07.

Zions Bancorporation, National Association (NASDAQ:ZION) last announced its earnings results on Monday, October 21st. The bank reported $1.37 earnings per share (EPS) 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 analyst estimates 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 business earned $1.13 earnings per share. On average, research analysts expect that Zions Bancorporation, National Association will post 4.82 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on ZION shares. Evercore ISI lifted their target price on Zions Bancorporation, National Association from $56.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Barclays lifted their price objective on Zions Bancorporation, National Association from $47.00 to $52.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 22nd. Jefferies Financial Group reduced their target price on Zions Bancorporation, National Association from $51.00 to $49.00 and set a “hold” rating on the stock in a report on Wednesday, September 11th. Wells Fargo & Company increased 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 research report on Tuesday, October 22nd. Finally, Morgan Stanley boosted their price objective on shares of Zions Bancorporation, National Association from $54.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $53.12.

Insiders Place Their Bets

In other Zions Bancorporation, National Association news, EVP Jennifer Anne Smith sold 4,385 shares of the firm’s 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 sale, the executive vice president now owns 24,714 shares of the company’s stock, valued at $1,321,210.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Eric Ellingsen sold 1,238 shares of the 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 transaction, the vice president now owns 35,878 shares in the company, valued at approximately $2,182,817.52. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jennifer Anne Smith sold 4,385 shares of the business’s stock in a transaction 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 sale, the executive vice president now owns 24,714 shares of the company’s stock, valued at $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 a total of 9,228 shares of company stock valued at $519,048 over the last 90 days. 2.22% of the stock is currently owned by insiders.

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.