Zions Bancorporation NA (NASDAQ:ZION) announced a quarterly dividend on Friday, July 31st, RTT News reports. Stockholders of record on Thursday, August 13th will be given 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 increased its dividend by an average of 357.1% annually over the last three years and has raised its dividend every year for the last 7 years. Zions Bancorporation NA has a payout ratio of 71.2% meaning its dividend is sufficiently covered by earnings. 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%.
NASDAQ ZION opened at $32.47 on Friday. The firm has a market cap of $5.37 billion, a P/E ratio of 12.88, a P/E/G ratio of 3.59 and a beta of 1.70. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.86 and a quick ratio of 0.85. The stock’s 50-day moving average is $33.52 and its 200-day moving average is $35.32. Zions Bancorporation NA has a one year low of $23.58 and a one year high of $52.48.
In other Zions Bancorporation NA news, Chairman Harris H. Simmons bought 40,000 shares of Zions Bancorporation NA stock in a transaction dated Wednesday, May 13th. The stock was bought at an average cost of $26.43 per share, for a total transaction of $1,057,200.00. Following the purchase, the chairman now owns 1,222,254 shares of the company’s stock, valued at approximately $32,304,173.22. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Thomas E. Laursen sold 5,229 shares of Zions Bancorporation NA stock in a transaction that occurred 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 transaction, the vice president now owns 22,975 shares of the company’s stock, valued at $712,914.25. The disclosure for this sale can be found here. Insiders own 1.81% of the company’s stock.
A number of equities research analysts recently issued reports on ZION shares. BMO Capital Markets dropped their target price on Zions Bancorporation NA from $37.00 to $35.00 and set a “market perform” rating on the stock in a research report on Tuesday, April 21st. ValuEngine raised Zions Bancorporation NA from a “sell” rating to a “hold” rating in a research report on Friday, May 1st. SunTrust Banks dropped their target price on Zions Bancorporation NA from $50.00 to $40.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Bank of America dropped their target price on Zions Bancorporation NA from $40.00 to $39.00 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Finally, BidaskClub lowered Zions Bancorporation NA from a “hold” rating to a “sell” rating in a research report on Tuesday, July 7th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $39.71.
About Zions Bancorporation NA
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.
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