Zions Bancorporation, N.A. (NASDAQ:ZION) Declares $0.45 Quarterly Dividend

Zions Bancorporation, N.A. (NASDAQ:ZION) announced a quarterly dividend on Friday, January 30th. Shareholders of record on Thursday, February 12th will be paid a dividend of 0.45 per share by the bank on Thursday, February 19th. This represents a c) dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Thursday, February 12th.

Zions Bancorporation, N.A. has increased its dividend payment by an average of 0.1%per year over the last three years and has raised 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 $5.65 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 31.9%.

Zions Bancorporation, N.A. Trading Down 0.2%

NASDAQ ZION opened at $65.16 on Tuesday. Zions Bancorporation, N.A. has a one year low of $39.32 and a one year high of $66.18. The firm has a 50 day simple moving average of $59.49 and a 200-day simple moving average of $56.08. The firm has a market cap of $9.62 billion, a price-to-earnings ratio of 10.86 and a beta of 0.85. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.82 and a current ratio of 0.82.

Insiders Place Their Bets

In other news, EVP Jennifer Anne Smith sold 6,558 shares of the stock in a transaction dated Friday, February 6th. The shares were sold at an average price of $64.80, for a total value of $424,958.40. Following the completion of the transaction, the executive vice president owned 18,761 shares in the company, valued at $1,215,712.80. This trade represents a 25.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven Dan Stephens sold 15,476 shares of the business’s stock in a transaction dated Friday, February 6th. The stock was sold at an average price of $65.90, for a total transaction of $1,019,868.40. Following the sale, the executive vice president directly owned 41,127 shares in the company, valued at approximately $2,710,269.30. This represents a 27.34% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 53,302 shares of company stock worth $3,356,517. Insiders own 1.77% of the company’s stock.

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

Several hedge funds and other institutional investors have recently bought and sold shares of ZION. Vanguard Group Inc. grew its holdings in Zions Bancorporation, N.A. by 3.1% in the second quarter. Vanguard Group Inc. now owns 19,308,327 shares of the bank’s stock valued at $1,002,875,000 after purchasing an additional 582,392 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Zions Bancorporation, N.A. by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 7,343,076 shares of the bank’s stock worth $415,474,000 after buying an additional 30,552 shares in the last quarter. LSV Asset Management grew its stake in Zions Bancorporation, N.A. by 4.5% in the 2nd quarter. LSV Asset Management now owns 3,960,132 shares of the bank’s stock valued at $205,689,000 after acquiring an additional 169,085 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its holdings in Zions Bancorporation, N.A. by 14.4% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 3,244,014 shares of the bank’s stock valued at $183,546,000 after acquiring an additional 409,065 shares in the last quarter. Finally, AQR Capital Management LLC raised its position in Zions Bancorporation, N.A. by 31.6% during the third quarter. AQR Capital Management LLC now owns 2,963,545 shares of the bank’s stock worth $167,677,000 after acquiring an additional 711,218 shares during the last quarter. 76.84% of the stock is owned by institutional investors and hedge funds.

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.