Banner Co. Declares Quarterly Dividend of $0.41 (NASDAQ:BANR)

Banner Co. (NASDAQ:BANR) announced a quarterly dividend on Wednesday, July 22nd, Zacks reports. Shareholders of record on Tuesday, August 4th will be given a dividend of 0.41 per share by the financial services provider on Thursday, August 13th. This represents a $1.64 annualized dividend and a yield of 4.63%. The ex-dividend date is Monday, August 3rd.

Banner has increased its dividend by an average of 147.7% per year over the last three years and has raised its dividend annually for the last 7 consecutive years. Banner has a dividend payout ratio of 60.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Banner to earn $2.71 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 60.5%.

Shares of NASDAQ:BANR opened at $35.43 on Friday. The stock has a 50 day moving average of $36.28 and a 200 day moving average of $40.13. The company has a market cap of $1.25 billion, a PE ratio of 10.94 and a beta of 1.15. Banner has a 12-month low of $27.12 and a 12-month high of $60.21. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.22.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $0.67 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.34 by $0.33. Banner had a net margin of 18.53% and a return on equity of 7.74%. The firm had revenue of $147.30 million for the quarter, compared to the consensus estimate of $140.97 million. Equities research analysts predict that Banner will post 2.68 earnings per share for the current fiscal year.

Several equities analysts recently weighed in on the stock. Zacks Investment Research raised shares of Banner from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. BidaskClub lowered Banner from a “sell” rating to a “strong sell” rating in a research note on Friday, June 26th. Raymond James lifted their price objective on Banner from $36.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 29th. Piper Sandler decreased their price target on shares of Banner from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 23rd. Finally, ValuEngine upgraded Banner from a “sell” rating to a “hold” rating in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $47.33.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank that 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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Dividend History for Banner (NASDAQ:BANR)

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