Banner Co. (BANR) to Issue Quarterly Dividend of $0.48 on May 10th

Banner Co. (NASDAQ:BANR) announced a quarterly dividend on Wednesday, April 17th, Zacks reports. Investors 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 increased 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 research 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 Trading Down 0.0 %

BANR stock opened at $45.36 on Friday. The business has a fifty day moving average price of $45.45 and a 200 day moving average price of $46.55. Banner has a fifty-two week low of $39.31 and a fifty-two week high of $55.66. The stock has a market capitalization 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 current ratio of 0.82 and a quick ratio of 0.82.

Wall Street Analysts Forecast Growth

BANR has been the subject of a number of recent analyst reports. Raymond James raised their price target on Banner from $47.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Stephens dropped their price target on Banner from $54.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Piper Sandler dropped their price target on Banner from $54.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Keefe, Bruyette & Woods dropped their price target on Banner from $58.00 to $54.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Finally, DA Davidson dropped their price target on Banner from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Banner presently has a consensus rating of “Moderate Buy” and an average price target of $51.20.

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.