Zions Bancorporation, N.A. (NASDAQ:ZION) Declares Dividend Increase - $0.45 Per Share

Key Points

• Zions Bancorporation, N.A. has declared a quarterly dividend of $0.45 per share, representing a 4.7% increase from the previous dividend of $0.43.
• The bank's dividend payout ratio is currently at 31.2%, indicating strong earnings coverage for the new dividend, with analysts projecting earnings of $5.65 per share next year.
• Despite the positive dividend news, Zions Bancorporation's stock fell 2.9% to $52.08 on the trading day following the announcement.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) announced a quarterly dividend on Friday, August 1st, RTT News reports. Shareholders of record on Thursday, August 14th will be paid a dividend of 0.45 per share by the bank on Thursday, August 21st. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%. The ex-dividend date is Thursday, August 14th. This is a 4.7% increase from Zions Bancorporation, N.A.'s previous quarterly dividend of $0.43.

Zions Bancorporation, N.A. has a dividend payout ratio of 31.2% meaning its dividend is sufficiently covered by earnings. Analysts expect Zions Bancorporation, N.A. to earn $5.65 per share next year, which means the company should continue to be able to cover its $1.72 annual dividend with an expected future payout ratio of 30.4%.

Zions Bancorporation, N.A. Price Performance

Shares of ZION stock traded down $0.46 during trading hours on Tuesday, reaching $52.30. The company's stock had a trading volume of 592,937 shares, compared to its average volume of 1,610,911. The firm's 50 day simple moving average is $51.98 and its 200-day simple moving average is $50.69. The company has a market capitalization of $7.72 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 1.37 and a beta of 0.93. Zions Bancorporation, N.A. has a fifty-two week low of $39.32 and a fifty-two week high of $63.22. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.15.

Zions Bancorporation, N.A. (NASDAQ:ZION - Get Free Report) last issued its earnings results on Monday, July 21st. The bank reported $1.58 earnings per share for the quarter, beating analysts' consensus estimates of $1.31 by $0.27. The firm had revenue of $838.00 million for the quarter, compared to the consensus estimate of $810.24 million. Zions Bancorporation, N.A. had a return on equity of 13.76% and a net margin of 16.98%. During the same quarter last year, the business posted $1.28 EPS. Sell-side analysts forecast that Zions Bancorporation, N.A. will post 5.39 earnings per share for the current year.

Hedge Funds Weigh In On Zions Bancorporation, N.A.

Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its stake in Zions Bancorporation, N.A. by 3.4% in the first quarter. Dimensional Fund Advisors LP now owns 7,040,473 shares of the bank's stock valued at $351,027,000 after purchasing an additional 233,252 shares during the last quarter. LSV Asset Management lifted its stake in Zions Bancorporation, N.A. by 3.7% in the first quarter. LSV Asset Management now owns 3,791,047 shares of the bank's stock valued at $189,022,000 after purchasing an additional 136,870 shares during the last quarter. AQR Capital Management LLC lifted its stake in Zions Bancorporation, N.A. by 326.4% in the first quarter. AQR Capital Management LLC now owns 2,866,759 shares of the bank's stock valued at $139,927,000 after purchasing an additional 2,194,514 shares during the last quarter. Vaughan Nelson Investment Management L.P. lifted its stake in Zions Bancorporation, N.A. by 9.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 2,834,949 shares of the bank's stock valued at $147,247,000 after purchasing an additional 240,329 shares during the last quarter. Finally, First Trust Advisors LP lifted its stake in Zions Bancorporation, N.A. by 20.8% in the fourth quarter. First Trust Advisors LP now owns 2,267,568 shares of the bank's stock valued at $123,016,000 after purchasing an additional 390,601 shares during the last quarter. Hedge funds and other institutional investors own 76.84% of the company's stock.

About Zions Bancorporation, N.A.

Zions Bancorporation, National Association provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming. It operates through Zions Bank, California Bank & Trust, Amegy Bank, National Bank of Arizona, Nevada State Bank, Vectra Bank Colorado, and The Commerce Bank of Washington segments.