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

Banner Co. (NASDAQ:BANR - Get Free Report) declared a quarterly dividend on Wednesday, April 16th, RTT News reports. Shareholders of record on Tuesday, April 29th will be given 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 3.17%. The ex-dividend date is Tuesday, April 29th.

Banner has raised its dividend payment by an average of 5.4% annually over the last three years. Banner has a payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Equities research 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

NASDAQ:BANR traded up $0.81 during mid-day trading on Friday, hitting $60.49. 351,857 shares of the company's stock traded hands, compared to its average volume of 212,733. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. The firm has a 50 day moving average of $63.72 and a two-hundred day moving average of $67.04. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 12.40 and a beta of 0.94. Banner has a 12 month low of $43.44 and a 12 month high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.06. The firm had revenue of $159.88 million during 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 firm earned $1.22 EPS. On average, equities analysts forecast that Banner will post 5.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BANR has been the subject of a number of analyst reports. DA Davidson lifted their target price on shares of Banner from $73.00 to $76.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. Stephens restated an "overweight" rating and issued a $82.00 target price on shares of Banner in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $74.20.

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.