Zions Bancorporation, N.A. (NASDAQ:ZION) Shareholders to Get $0.48 Quarterly Dividend

Zions Bancorporation, N.A. (NASDAQ:ZION) announced a quarterly dividend on Friday, October 30th. Shareholders of record on Thursday, November 12th will be given a dividend of $0.48 per share by the bank on Thursday, November 19th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend is Thursday, November 12th.

Zions Bancorporation, N.A. has raised its dividend by an average of 0.1% per year over the last three years and has raised its dividend annually for the last 12 consecutive years. Zions Bancorporation, N.A. has a dividend payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Zions Bancorporation, N.A. to earn $6.85 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 28.0%.

Zions Bancorporation, N.A. Trading Up 2.3%

Shares of ZION stock opened at $66.25 on Tuesday. Zions Bancorporation, N.A. has a 1-year low of $48.50 and a 1-year high of $73.34. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.32. The stock has a market cap of $9.67 billion, a price-to-earnings ratio of 8.13, a PEG ratio of 1.04 and a beta of 0.85. The stock has a 50-day moving average of $65.09 and a 200-day moving average of $63.99.

Zions Bancorporation, N.A. (NASDAQ:ZION) last posted its quarterly earnings data on Monday, October 19th. The bank reported $1.78 EPS for the quarter, topping analysts’ consensus estimates of $1.64 by $0.14. Zions Bancorporation, N.A. had a return on equity of 13.77% and a net margin of 24.81%. The company had revenue of $887.00 million for the quarter, compared to analyst estimates of $889.52 million. During the same period in the previous year, the firm earned $1.48 earnings per share. On average, equities research analysts forecast that Zions Bancorporation, N.A. will post 6.70 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of Zions Bancorporation, N.A. from $86.00 to $87.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 20th. DA Davidson increased their price objective on shares of Zions Bancorporation, N.A. from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Tuesday, October 20th. Citigroup lowered their target price on shares of Zions Bancorporation, N.A. from $73.00 to $70.00 and set a “neutral” rating for the company in a research note on Wednesday, October 21st. Cantor Fitzgerald dropped their target price on shares of Zions Bancorporation, N.A. from $80.00 to $76.00 and set an “overweight” rating on the stock in a report on Wednesday, October 14th. Finally, Morgan Stanley dropped their target price on shares of Zions Bancorporation, N.A. from $78.00 to $77.00 and set an “underweight” rating on the stock in a report on Tuesday, October 20th. Seven analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $73.44.

Zions Bancorporation, N.A. Company Profile

Zions Bancorporation, N.A. is a national bank providing commercial and retail banking services to individuals, businesses, and institutions. Its offerings include business and consumer lending, deposit accounts, treasury management, and related banking services.

The bank serves customers across 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through regional banking brands, including Zions Bank, Amegy Bank, California Bank & Trust, and National Bank of Arizona.

The institution traces its history to 1873, when Zion’s Savings Bank and Trust Company was established in Salt Lake City.