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

Banner Co. (NASDAQ:BANR) declared a quarterly dividend on Sunday, November 3rd, Zacks reports. Investors of record on Tuesday, November 5th will be paid a dividend of 0.48 per share by the financial services provider on Friday, November 15th. This represents a $1.92 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Tuesday, November 5th.

Banner has raised its dividend payment by an average of 5.4% annually over the last three years. Banner has a dividend payout ratio of 39.1% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

Banner stock opened at $64.90 on Monday. The firm has a fifty day moving average of $60.83 and a 200-day moving average of $53.80. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. Banner has a 52-week low of $41.87 and a 52-week high of $68.11. The firm has a market capitalization of $2.24 billion, a P/E ratio of 13.58 and a beta of 1.04.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.12. The business had revenue of $213.90 million for the quarter, compared to analyst estimates of $152.95 million. Banner had a return on equity of 10.22% and a net margin of 20.28%. During the same period in the previous year, the company earned $1.43 earnings per share. As a group, analysts predict that Banner will post 4.82 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on BANR. Janney Montgomery Scott downgraded shares of Banner from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. DA Davidson boosted their price objective on Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Stephens reaffirmed an “overweight” rating and set a $53.00 price objective on shares of Banner in a research note on Thursday, July 18th. Piper Sandler set a $67.00 price objective on Banner in a research report on Thursday, October 17th. Finally, Raymond James lifted their price objective on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $61.60.

Banner Company Profile

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.