Fintel reports that on September 27, 2023, Morgan Stanley downgraded their outlook for Zions Bancorporation N.A (NASDAQ:ZION) from Equal-Weight to Underweight.

Analyst Price Forecast Suggests 12.45% Upside

As of August 31, 2023, the average one-year price target for Zions Bancorporation N.A is 38.22. The forecasts range from a low of 27.27 to a high of $47.25. The average price target represents an increase of 12.45% from its latest reported closing price of 33.99.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Zions Bancorporation N.A is 3,632MM, an increase of 16.60%. The projected annual non-GAAP EPS is 6.89.

Zions Bancorporation N.A Declares $0.41 Dividend

On July 28, 2023 the company declared a regular quarterly dividend of $0.41 per share ($1.64 annualized). Shareholders of record as of August 17, 2023 received the payment on August 24, 2023. Previously, the company paid $0.41 per share.

At the current share price of $33.99 / share, the stock’s dividend yield is 4.82%.

Looking back five years and taking a sample every week, the average dividend yield has been 3.25%, the lowest has been 2.10%, and the highest has been 6.76%. The standard deviation of yields is 1.01 (n=236).

The current dividend yield is 1.56 standard deviations above the historical average.

Additionally, the company’s dividend payout ratio is 0.28. 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 is the Fund Sentiment?

There are 972 funds or institutions reporting positions in Zions Bancorporation N.A. This is a decrease of 106 owner(s) or 9.83% in the last quarter. Average portfolio weight of all funds dedicated to ZION is 0.11%, a decrease of 19.14%. Total shares owned by institutions decreased in the last three months by 11.04% to 138,091K shares. The put/call ratio of ZION is 1.58, indicating a bearish outlook.

What are Other Shareholders Doing?

Lsv Asset Management holds 4,675K shares representing 3.16% ownership of the company. In it’s prior filing, the firm reported owning 4,667K shares, representing an increase of 0.17%. The firm decreased its portfolio allocation in ZION by 11.62% over the last quarter.

VTSMX – Vanguard Total Stock Market Index Fund Investor Shares holds 4,626K shares representing 3.12% ownership of the company. In it’s prior filing, the firm reported owning 4,618K shares, representing an increase of 0.18%. The firm decreased its portfolio allocation in ZION by 17.05% over the last quarter.

Invesco holds 3,919K shares representing 2.65% ownership of the company. In it’s prior filing, the firm reported owning 2,896K shares, representing an increase of 26.12%. The firm increased its portfolio allocation in ZION by 1,133.34% over the last quarter.

NAESX – Vanguard Small-Cap Index Fund Investor Shares holds 3,824K shares representing 2.58% ownership of the company. In it’s prior filing, the firm reported owning 3,891K shares, representing a decrease of 1.76%. The firm decreased its portfolio allocation in ZION by 16.09% over the last quarter.

Charles Schwab Investment Management holds 3,620K shares representing 2.44% ownership of the company. In it’s prior filing, the firm reported owning 3,446K shares, representing an increase of 4.80%. The firm decreased its portfolio allocation in ZION by 8.35% over the last quarter.

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.

This article originally appeared on Fintel

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