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

by · The Markets Daily

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 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 2.83%. The ex-dividend date is Tuesday, November 5th.

Banner has increased 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. 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 Price Performance

NASDAQ:BANR opened at $67.93 on Friday. The business’s 50-day moving average price is $58.76 and its 200 day moving average price is $52.18. The firm has a market cap of $2.34 billion, a P/E ratio of 14.12 and a beta of 1.05. Banner has a 52-week low of $39.31 and a 52-week high of $68.11. 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 (NASDAQ:BANR – Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.12. The firm had revenue of $213.90 million for the quarter, compared to analysts’ expectations of $152.95 million. Banner had a return on equity of 10.89% and a net margin of 20.93%. During the same quarter last year, the business posted $1.43 EPS. As a group, sell-side analysts predict that Banner will post 4.71 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BANR. Janney Montgomery Scott cut Banner from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Stephens reissued an “overweight” rating and issued a $53.00 price target on shares of Banner in a research note on Thursday, July 18th. Raymond James lifted their price target on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler lifted their price target on Banner from $51.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $56.80.

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Banner Company Profile

(Get Free Report)

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.

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