Zions Bancorporation NA (NASDAQ:ZION) declared a quarterly dividend on Friday, July 31st, RTT News reports. Stockholders of record on Thursday, August 13th will be paid a dividend of 0.34 per share by the bank on Thursday, August 20th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 4.19%.
Zions Bancorporation NA has raised its dividend by an average of 357.1% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Zions Bancorporation NA has a payout ratio of 71.2% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Zions Bancorporation NA to earn $2.96 per share next year, which means the company should continue to be able to cover its $1.36 annual dividend with an expected future payout ratio of 45.9%.
Shares of ZION opened at $32.47 on Friday. Zions Bancorporation NA has a 1 year low of $23.58 and a 1 year high of $52.48. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.19. The stock has a 50 day simple moving average of $33.52 and a 200-day simple moving average of $35.32. The stock has a market cap of $5.32 billion, a PE ratio of 12.07, a PEG ratio of 3.56 and a beta of 1.70.
Zions Bancorporation NA (NASDAQ:ZION) last issued its earnings results on Monday, July 20th. The bank reported $0.34 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.03). Zions Bancorporation NA had a return on equity of 7.46% and a net margin of 15.70%. The company had revenue of $686.00 million during the quarter, compared to analyst estimates of $694.13 million. During the same period in the previous year, the company posted $0.99 earnings per share. On average, sell-side analysts forecast that Zions Bancorporation NA will post 2.09 EPS for the current fiscal year.
A number of equities analysts have recently issued reports on the company. Morgan Stanley increased their target price on Zions Bancorporation NA from $38.00 to $41.00 and gave the stock an “equal weight” rating in a report on Monday, June 8th. BMO Capital Markets dropped their price target on Zions Bancorporation NA from $37.00 to $35.00 and set a “market perform” rating for the company in a report on Tuesday, April 21st. DA Davidson raised Zions Bancorporation NA from a “neutral” rating to a “buy” rating and raised their price target for the company from $32.00 to $36.00 in a report on Wednesday, May 20th. BidaskClub cut Zions Bancorporation NA from a “hold” rating to a “sell” rating in a report on Tuesday, July 7th. Finally, Royal Bank of Canada reaffirmed a “hold” rating and set a $30.00 price target on shares of Zions Bancorporation NA in a report on Wednesday, April 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $39.71.
In related news, Chairman Harris H. Simmons purchased 40,000 shares of Zions Bancorporation NA stock in a transaction dated Wednesday, May 13th. The shares were acquired at an average cost of $26.43 per share, for a total transaction of $1,057,200.00. Following the transaction, the chairman now directly owns 1,222,254 shares of the company’s stock, valued at $32,304,173.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Thomas E. Laursen sold 5,229 shares of the firm’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $31.03, for a total value of $162,255.87. Following the completion of the transaction, the vice president now owns 22,975 shares in the company, valued at $712,914.25. The disclosure for this sale can be found here. 1.81% of the stock is owned by company insiders.
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: Ex-Dividend
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