Banner Co. (NASDAQ:BANR) announced a quarterly dividend on Thursday, September 27th, Wall Street Journal reports. Shareholders of record on Wednesday, October 10th will be paid a dividend of 0.38 per share by the financial services provider on Friday, October 19th. This represents a $1.52 annualized dividend and a yield of 2.46%. The ex-dividend date of this dividend is Tuesday, October 9th. This is a boost from Banner’s previous quarterly dividend of $0.35.
Banner has raised its dividend by an average of 12.4% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Banner has a dividend payout ratio of 41.3% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Banner to earn $4.12 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 36.9%.
Shares of BANR opened at $61.88 on Monday. Banner has a 52-week low of $52.20 and a 52-week high of $67.11. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.92 and a current ratio of 0.93. The firm has a market cap of $2.01 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 1.69 and a beta of 0.90.
Several research analysts have recently commented on BANR shares. BidaskClub lowered Banner from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 25th. Zacks Investment Research upgraded Banner from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a report on Tuesday, June 26th. Sandler O’Neill reiterated a “buy” rating and set a $70.00 price target on shares of Banner in a report on Monday, July 30th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $61.00 price target on shares of Banner in a report on Friday, July 13th. Finally, Stephens reiterated a “hold” rating and set a $68.00 price target on shares of Banner in a report on Thursday, September 6th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $65.20.
Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank, which provides commercial banking and financial products and services to individuals, businesses, and public sector entities primarily in the United States. It offers deposit products, 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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