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

Banner Co. (NASDAQ:BANR) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Shareholders of record on Tuesday, April 30th will be given a dividend of 0.48 per share by the financial services provider on Friday, May 10th. This represents a $1.92 dividend on an annualized basis and a yield of 4.23%. The ex-dividend date is Monday, April 29th.

Banner has increased its dividend by an average of 5.4% annually over the last three years and has raised its dividend annually for the last 2 consecutive years. Banner has a payout ratio of 38.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Banner to earn $4.93 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 38.9%.

Banner Price Performance

Shares of Banner stock opened at $45.36 on Friday. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 9.43 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a 50 day moving average price of $45.45 and a 200-day moving average price of $46.57. Banner has a one year low of $39.31 and a one year high of $55.66.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BANR shares. DA Davidson dropped their target price on Banner from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Stephens dropped their target price on Banner from $54.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Piper Sandler dropped their target price on Banner from $54.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Keefe, Bruyette & Woods dropped their target price on Banner from $58.00 to $54.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Finally, Raymond James boosted their price objective on Banner from $47.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Banner presently has an average rating of “Moderate Buy” and a consensus price target of $51.20.

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.