Zions Bancorporation, N.A. (NASDAQ:ZION) Plans Quarterly Dividend of $0.48

Zions Bancorporation, N.A. (NASDAQ:ZION) announced a quarterly dividend on Thursday, July 30th. Investors of record on Thursday, August 13th will be given a dividend of 0.48 per share by the bank on Thursday, August 20th. This represents a c) dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Thursday, August 13th. This is a 6.7% increase from Zions Bancorporation, N.A.’s previous quarterly dividend of $0.45.

Zions Bancorporation, N.A. has raised its dividend payment by an average of 0.1%per year over the last three years and has increased its dividend every year for the last 12 years. Zions Bancorporation, N.A. has a payout ratio of 32.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Zions Bancorporation, N.A. to earn $6.75 per share next year, which means the company should continue to be able to cover its $1.80 annual dividend with an expected future payout ratio of 26.7%.

Zions Bancorporation, N.A. Stock Up 0.8%

Shares of NASDAQ ZION opened at $69.46 on Friday. Zions Bancorporation, N.A. has a one year low of $46.19 and a one year high of $73.34. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.84. The firm’s 50 day simple moving average is $67.36 and its two-hundred day simple moving average is $62.45. The stock has a market capitalization of $10.22 billion, a P/E ratio of 8.85, a PEG ratio of 1.64 and a beta of 0.80.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Robert W. Baird raised their price objective on Zions Bancorporation, N.A. from $68.00 to $75.00 and gave the company a “neutral” rating in a research note on Tuesday, July 21st. Evercore cut Zions Bancorporation, N.A. from an “outperform” rating to an “in-line” rating and set a $68.00 target price for the company. in a report on Thursday, July 23rd. JPMorgan Chase & Co. lowered Zions Bancorporation, N.A. from a “neutral” rating to an “underweight” rating and set a $75.00 price target on the stock. in a research report on Tuesday, July 21st. Weiss Ratings raised Zions Bancorporation, N.A. from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 4th. Finally, Piper Sandler lowered their price objective on Zions Bancorporation, N.A. from $65.00 to $62.00 and set a “neutral” rating for the company in a research report on Thursday, April 2nd. Six analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $71.29.

About Zions Bancorporation, N.A.

Zions Bancorporation, N.A. is a bank holding company headquartered in Salt Lake City, Utah, offering a full suite of banking and financial services to individuals, businesses and institutions. Through its primary subsidiary, Zions Bank, the company provides commercial banking, retail banking and wealth management solutions designed to serve the needs of small businesses, middle‐market firms and high‐net‐worth clients. Its service portfolio includes deposit accounts, cash‐management tools, lending products, mortgage origination, treasury services and investment advisory services.

The company’s commercial banking segment delivers custom credit and treasury management services, including working capital lines of credit, equipment financing and international trade finance.