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

Banner Co. (NASDAQ:BANR) announced a quarterly dividend on Sunday, November 3rd, Zacks reports. Shareholders of record on Tuesday, November 5th will be given 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 2.96%. The ex-dividend date of this dividend is Tuesday, November 5th.

Banner has increased 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. Equities 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 Trading Up 1.3 %

Shares of NASDAQ:BANR opened at $64.90 on Monday. The business’s 50 day simple moving average is $60.83 and its 200 day simple moving average is $53.80. Banner has a 1 year low of $41.87 and a 1 year high of $68.11. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84. The company 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 posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.12. The business had revenue of $213.90 million during the quarter, compared to analysts’ expectations of $152.95 million. Banner had a net margin of 20.28% and a return on equity of 10.22%. During the same quarter in the prior year, the business posted $1.43 earnings per share. On average, research analysts anticipate that Banner will post 4.82 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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