Zions Bancorporation, N.A. (NASDAQ:ZION) Increases Dividend to $0.48 Per Share

Zions Bancorporation, N.A. (NASDAQ:ZION) declared a quarterly dividend on Thursday, July 30th. Stockholders 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) annualized dividend and a dividend 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 increased its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend annually for the last 12 consecutive years. Zions Bancorporation, N.A. has a dividend payout ratio of 32.6% indicating that its dividend is sufficiently covered by earnings. Equities 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 Performance

ZION opened at $69.46 on Friday. Zions Bancorporation, N.A. has a twelve month low of $46.19 and a twelve month high of $73.34. The firm has a market capitalization of $10.22 billion, a PE ratio of 8.85, a PEG ratio of 1.64 and a beta of 0.80. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.26. The firm’s 50-day moving average price is $67.36 and its 200 day moving average price is $62.45.

Insider Activity

In other news, EVP Derek Steward sold 894 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $69.65, for a total value of $62,267.10. Following the completion of the transaction, the executive vice president owned 17,449 shares of the company’s stock, valued at approximately $1,215,322.85. This trade represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Jennifer Anne Smith sold 4,209 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $62.50, for a total value of $263,062.50. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 5,653 shares of company stock worth $359,958 in the last three months. Corporate insiders own 1.43% of the company’s stock.

Institutional Investors Weigh In On Zions Bancorporation, N.A.

A number of hedge funds have recently bought and sold shares of the stock. Handelsbanken Fonder AB increased its stake in shares of Zions Bancorporation, N.A. by 17.0% during the second quarter. Handelsbanken Fonder AB now owns 46,100 shares of the bank’s stock worth $3,190,000 after buying an additional 6,700 shares during the period. Arista Wealth Management LLC purchased a new position in Zions Bancorporation, N.A. in the second quarter worth approximately $230,000. Everhart Financial Group Inc. purchased a new position in Zions Bancorporation, N.A. in the second quarter worth approximately $224,000. Beacon Investment Advisory Services Inc. grew its holdings in Zions Bancorporation, N.A. by 12.6% during the 2nd quarter. Beacon Investment Advisory Services Inc. now owns 12,895 shares of the bank’s stock worth $892,000 after acquiring an additional 1,448 shares in the last quarter. Finally, Elevation Wealth Partners LLC grew its holdings in Zions Bancorporation, N.A. by 528.8% during the 2nd quarter. Elevation Wealth Partners LLC now owns 415 shares of the bank’s stock worth $29,000 after acquiring an additional 349 shares in the last quarter. Institutional investors and hedge funds own 76.84% of the company’s stock.

Zions Bancorporation, N.A. Company Profile

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.