Zions Bancorporation, National Association to Issue Quarterly Dividend of $0.43 (NASDAQ:ZION)

Zions Bancorporation, National Association (NASDAQ:ZION) declared a quarterly dividend on Friday, January 31st,RTT News reports. Investors of record on Thursday, February 13th will be paid a dividend of 0.43 per share by the bank on Thursday, February 20th. This represents a $1.72 dividend on an annualized basis and a dividend yield of 2.97%.

Zions Bancorporation, National Association has raised its dividend by an average of 4.9% per year over the last three years and has increased its dividend every year for the last 12 years. Zions Bancorporation, National Association has a payout ratio of 30.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Zions Bancorporation, National Association to earn $5.42 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 31.7%.

Zions Bancorporation, National Association Price Performance

Shares of NASDAQ:ZION opened at $57.86 on Friday. The firm’s 50 day simple moving average is $57.01 and its two-hundred day simple moving average is $52.47. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.80 and a quick ratio of 0.80. The company has a market capitalization of $8.55 billion, a P/E ratio of 11.69, a P/E/G ratio of 2.92 and a beta of 1.12. Zions Bancorporation, National Association has a 1-year low of $37.76 and a 1-year high of $63.22.

Zions Bancorporation, National Association (NASDAQ:ZION) last issued its earnings results on Tuesday, January 21st. The bank reported $1.34 earnings per share for the quarter, topping the consensus estimate of $1.26 by $0.08. The company had revenue of $820.00 million during the quarter, compared to the consensus estimate of $787.70 million. Zions Bancorporation, National Association had a net margin of 15.70% and a return on equity of 13.65%. Zions Bancorporation, National Association’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.78 EPS. Research analysts expect that Zions Bancorporation, National Association will post 5.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ZION. DA Davidson lifted their target price on Zions Bancorporation, National Association from $66.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, January 22nd. Keefe, Bruyette & Woods boosted their target price on shares of Zions Bancorporation, National Association from $65.00 to $70.00 and gave the stock a “market perform” rating in a report on Wednesday, January 22nd. Stephens raised their target price on shares of Zions Bancorporation, National Association from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 22nd. The Goldman Sachs Group upgraded shares of Zions Bancorporation, National Association from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley increased 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 equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $60.71.

Insider Buying and Selling at Zions Bancorporation, National Association

In related news, EVP Paul E. Burdiss sold 9,506 shares of Zions Bancorporation, National Association stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $61.06, for a total transaction of $580,436.36. Following the completion of the sale, the executive vice president now owns 86,232 shares in the company, valued at $5,265,325.92. This trade represents a 9.93 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Eric Ellingsen sold 1,238 shares of the company’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $60.84, for a total transaction of $75,319.92. Following the completion of the transaction, the vice president now owns 35,878 shares in the company, valued at $2,182,817.52. This represents a 3.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 14,496 shares of company stock worth $873,762 over the last quarter. Insiders own 2.22% of the company’s stock.

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.