Banner Corporation (BANR) to Distribute Quarterly Dividend of $0.52 on August 14th

Banner Corporation (NASDAQ:BANR) announced a quarterly dividend on Wednesday, July 22nd. Investors of record on Tuesday, August 4th will be paid a dividend of 0.52 per share by the financial services provider on Friday, August 14th. This represents a c) annualized dividend and a dividend yield of 3.0%. The ex-dividend date is Tuesday, August 4th.

Banner has decreased its dividend by an average of 0.1%annually over the last three years. Banner has a payout ratio of 36.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Banner to earn $6.70 per share next year, which means the company should continue to be able to cover its $2.08 annual dividend with an expected future payout ratio of 31.0%.

Banner Price Performance

BANR opened at $70.41 on Friday. The stock has a market cap of $2.39 billion, a price-to-earnings ratio of 11.62 and a beta of 0.83. Banner has a 1 year low of $57.05 and a 1 year high of $72.65. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The stock has a fifty day moving average price of $67.22 and a 200 day moving average price of $64.39.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02). Banner had a net margin of 23.55% and a return on equity of 10.72%. The firm had revenue of $172.11 million during the quarter, compared to analysts’ expectations of $174.54 million. Analysts forecast that Banner will post 6.2 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on BANR shares. Wall Street Zen lowered Banner from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Weiss Ratings upgraded Banner from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Keefe, Bruyette & Woods raised their price objective on shares of Banner from $75.00 to $78.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. DA Davidson raised their price objective on shares of Banner from $72.00 to $76.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Finally, Piper Sandler lifted their target price on shares of Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Banner currently has a consensus rating of “Hold” and a consensus target price of $72.75.

About Banner

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.