On April 5, 2023, Baird upgraded their outlook for Zions Ban (NASDAQ:ZION) from Neutral to Outperform .
Analyst Price Forecast Suggests 102.89% Upside
As of March 30, 2023, the average one-year price target for Zions Ban is $56.22. The forecasts range from a low of $35.35 to a high of $65.10. The average price target represents an increase of 102.89% from its latest reported closing price of $27.71.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Zions Ban is $3,632MM, an increase of 19.87%. The projected annual non-GAAP EPS is $6.89.
Zions Ban Declares $0.41 Dividend
On January 27, 2023 the company declared a regular quarterly dividend of $0.41 per share ($1.64 annualized). Shareholders of record as of February 16, 2023 received the payment on February 23, 2023. Previously, the company paid $0.41 per share.
At the current share price of $27.71 / share, the stock's dividend yield is 5.92%. Looking back five years and taking a sample every week, the average dividend yield has been 2.93%, the lowest has been 1.47%, and the highest has been 5.65%. The standard deviation of yields is 0.81 (n=237).
The current dividend yield is 3.71 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.27. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.21%, demonstrating that it has increased its dividend over time.
What are Other Shareholders Doing?
QAACX - Federated MDT All Cap Core Fund Shares holds 38K shares representing 0.03% ownership of the company. No change in the last quarter.
ABASX - AB Discovery Value Fund holds 875K shares representing 0.59% ownership of the company. In it's prior filing, the firm reported owning 836K shares, representing an increase of 4.51%. The firm decreased its portfolio allocation in ZION by 3.04% over the last quarter.
QCSTRX - Stock Account Class R1 holds 5K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 58K shares, representing a decrease of 1,011.79%. The firm decreased its portfolio allocation in ZION by 91.94% over the last quarter.
FXO - First Trust Financials AlphaDEX Fund holds 149K shares representing 0.10% ownership of the company. In it's prior filing, the firm reported owning 68K shares, representing an increase of 54.59%. The firm increased its portfolio allocation in ZION by 111.62% over the last quarter.
VFAIX - Vanguard Financials Index Fund Admiral Shares holds 319K shares representing 0.22% ownership of the company. In it's prior filing, the firm reported owning 319K shares, representing a decrease of 0.13%. The firm decreased its portfolio allocation in ZION by 12.85% over the last quarter.
What is the Fund Sentiment?
There are 1122 funds or institutions reporting positions in Zions Ban. This is an increase of 14 owner(s) or 1.26% in the last quarter. Average portfolio weight of all funds dedicated to ZION is 0.21%, an increase of 2.32%. Total shares owned by institutions increased in the last three months by 1.71% to 157,950K shares. The put/call ratio of ZION is 0.86, indicating a bullish outlook.
Zions Bancorporation N.A Background Information
(This description is provided by the company.)
Zions Bancorporation, N.A. is one of the nation's premier financial services companies with annual net revenue of $2.8 billion in 2020 and more than $80 billion of total assets. Zions operates under local management teams and distinct brands in 11 western states: Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington and Wyoming. The Bank is a consistent recipient of national and state-wide customer survey awards in small and middle-market banking, as well as a leader in public finance advisory services and Small Business Administration lending, recently ranking as the 9th largest provider in the U.S. of the SBA's Paycheck Protection Program loans. In addition, Zions is included in the S&P 500 and NASDAQ Financial 100 indices.
See all Zions Ban regulatory filings.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
