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

Zions Bancorporation, N.A. (NASDAQ:ZION) announced a quarterly dividend on Friday, October 30th. Investors of record on Thursday, November 12th will be paid 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 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 increased its dividend every year for the last 12 years. Zions Bancorporation, N.A. has a dividend payout ratio of 34.8% indicating that 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. Stock Up 2.3%

ZION stock opened at $66.25 on Tuesday. The stock’s 50 day simple moving average is $65.09 and its 200 day simple moving average is $63.99. Zions Bancorporation, N.A. has a fifty-two week low of $48.50 and a fifty-two week high of $73.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.86 and a current ratio of 0.86. The company has a market cap of $9.67 billion, a P/E ratio of 8.13, a price-to-earnings-growth ratio of 1.04 and a beta of 0.85.

Zions Bancorporation, N.A. (NASDAQ:ZION) last announced its quarterly earnings results on Monday, October 19th. The bank reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $887.00 million for the quarter, compared to analyst estimates of $889.52 million. During the same quarter in the prior year, the company earned $1.48 earnings per share. On average, research analysts expect that Zions Bancorporation, N.A. will post 6.70 earnings per share for the current fiscal year.

Institutional Trading of Zions Bancorporation, N.A.

Hedge funds have recently made changes to their positions in the company. Bessemer Group Inc. lifted its stake in shares of Zions Bancorporation, N.A. by 5.2% in the 1st quarter. Bessemer Group Inc. now owns 3,159 shares of the bank’s stock worth $182,000 after purchasing an additional 157 shares during the period. Allworth Financial LP boosted its holdings in shares of Zions Bancorporation, N.A. by 5.7% in the second quarter. Allworth Financial LP now owns 2,978 shares of the bank’s stock worth $206,000 after buying an additional 161 shares during the last quarter. Evergreen Capital Management LLC boosted its holdings in shares of Zions Bancorporation, N.A. by 3.9% in the third quarter. Evergreen Capital Management LLC now owns 4,814 shares of the bank’s stock worth $302,000 after buying an additional 182 shares during the last quarter. Modern Wealth Management LLC grew its position in Zions Bancorporation, N.A. by 4.7% during the first quarter. Modern Wealth Management LLC now owns 4,670 shares of the bank’s stock valued at $272,000 after buying an additional 209 shares during the period. Finally, Arizona State Retirement System grew its position in Zions Bancorporation, N.A. by 0.6% during the second quarter. Arizona State Retirement System now owns 40,807 shares of the bank’s stock valued at $2,823,000 after buying an additional 254 shares during the period. 76.84% of the stock is currently owned by institutional investors.

About Zions Bancorporation, N.A.

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.