Banner Co. Plans Quarterly Dividend of $0.48 (NASDAQ:BANR)

Banner Co. (NASDAQ:BANR) announced a quarterly dividend on Wednesday, October 16th, Zacks reports. Investors of record on Tuesday, November 5th will be given a dividend of 0.48 per share by the financial services provider on Friday, November 15th. This represents a $1.92 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date is Tuesday, November 5th.

Banner has increased its dividend payment by an average of 5.4% per year over the last three years. Banner has a payout ratio of 39.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Banner to earn $4.84 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 39.7%.

Banner Stock Performance

Shares of BANR stock opened at $67.93 on Friday. Banner has a fifty-two week low of $39.31 and a fifty-two week high of $68.11. The stock’s 50-day moving average is $58.76 and its two-hundred day moving average is $52.18. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.85 and a quick ratio of 0.85. The firm has a market cap of $2.34 billion, a P/E ratio of 14.12 and a beta of 1.05.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.12. The firm had revenue of $213.90 million for the quarter, compared to analyst estimates of $152.95 million. Banner had a net margin of 20.93% and a return on equity of 10.89%. During the same quarter last year, the firm earned $1.43 earnings per share. Analysts predict that Banner will post 4.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BANR. Stephens reissued an “overweight” rating and set a $53.00 price objective on shares of Banner in a report on Thursday, July 18th. Janney Montgomery Scott downgraded Banner from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Piper Sandler boosted their price objective on shares of Banner from $51.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Finally, Raymond James raised their target price on shares of Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $56.80.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans.