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

Banner Co. (NASDAQ:BANR) declared a quarterly dividend on Saturday, April 26th, RTT News reports. Shareholders of record on Tuesday, April 29th will be paid a dividend of 0.48 per share by the financial services provider on Friday, May 9th. This represents a $1.92 annualized dividend and a yield of 3.12%. The ex-dividend date of this dividend is Tuesday, April 29th.

Banner has raised its dividend by an average of 5.4% annually over the last three years. Banner has a dividend payout ratio of 33.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Banner to earn $5.67 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 33.9%.

Banner Stock Performance

BANR opened at $61.52 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.86. Banner has a 52-week low of $43.63 and a 52-week high of $78.05. The firm has a market cap of $2.12 billion, a P/E ratio of 12.61 and a beta of 0.94. The business’s fifty day moving average is $62.99 and its 200-day moving average is $67.17.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.06. The firm had revenue of $159.88 million for the quarter, compared to the consensus estimate of $159.72 million. Banner had a net margin of 20.28% and a return on equity of 10.03%. During the same period in the prior year, the company posted $1.22 earnings per share. Sell-side analysts expect that Banner will post 5.23 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on BANR shares. Raymond James reissued an “outperform” rating and issued a $65.00 price objective (down from $77.00) on shares of Banner in a research note on Monday, April 21st. Keefe, Bruyette & Woods lowered their price target on Banner from $75.00 to $73.00 and set a “market perform” rating for the company in a report on Monday, April 21st. Janney Montgomery Scott raised Banner from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a research note on Monday, April 21st. Stephens reissued an “overweight” rating and set a $73.00 target price on shares of Banner in a research note on Monday, April 21st. Finally, DA Davidson raised their price target on shares of Banner from $73.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, Banner has a consensus rating of “Hold” and an average price target of $70.83.

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.