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

Banner Co. (NASDAQ:BANR) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Stockholders 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 dividend 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 every year for the last 2 years. Banner has a dividend 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 Price Performance

Shares of NASDAQ BANR opened at $45.36 on Friday. Banner has a fifty-two week low of $39.31 and a fifty-two week high of $55.66. The stock has a market cap 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 quick ratio of 0.82 and a current ratio of 0.82. The firm’s 50-day simple moving average is $45.45 and its 200 day simple moving average is $46.55.

Analyst Upgrades and Downgrades

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

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.