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

Banner Co. (NASDAQ:BANR - Get Free Report) declared a quarterly dividend on Wednesday, October 16th, 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 dividend on an annualized basis and a yield of 2.88%. The ex-dividend date is Tuesday, November 5th.

Banner has raised its dividend 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. 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

BANR traded down $1.18 during midday trading on Friday, reaching $66.75. The company had a trading volume of 260,139 shares, compared to its average volume of 197,223. The business has a 50-day moving average of $58.76 and a two-hundred day moving average of $52.18. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.43. Banner has a 1 year low of $39.31 and a 1 year high of $68.11. The company has a market cap of $2.30 billion, a P/E ratio of 13.85 and a beta of 1.05.

Banner (NASDAQ:BANR - Get Free Report) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.12. The company had revenue of $213.90 million for the quarter, compared to analysts' expectations 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 business earned $1.43 EPS. As a group, equities research analysts predict that Banner will post 4.71 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BANR. Stephens reiterated an "overweight" rating and set a $53.00 target price on shares of Banner in a research report on Thursday, July 18th. Piper Sandler set a $67.00 price objective on shares of Banner in a research report on Thursday. DA Davidson upped their target price on shares of Banner from $60.00 to $69.00 and gave the stock a "neutral" rating in a research report on Friday. Janney Montgomery Scott downgraded shares of Banner from a "buy" rating to a "neutral" rating in a report on Friday, July 19th. Finally, Raymond James increased their price objective on shares of Banner from $62.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $61.60.

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.