Banner Corporation Plans Quarterly Dividend of $0.52 (NASDAQ:BANR)

Banner Corporation (NASDAQ:BANR) announced a quarterly dividend on Wednesday, July 22nd. Shareholders 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 yield of 3.0%. The ex-dividend date is Tuesday, August 4th.

Banner has decreased its dividend payment 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. Equities analysts expect Banner to earn $6.75 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 30.8%.

Banner Price Performance

Shares of NASDAQ:BANR opened at $69.62 on Thursday. The company’s fifty day moving average is $66.38 and its two-hundred day moving average is $64.10. The company has a market cap of $2.36 billion, a P/E ratio of 11.72 and a beta of 0.83. Banner has a 12-month low of $57.05 and a 12-month high of $72.65. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.10.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.02). Banner had a return on equity of 10.77% and a net margin of 23.24%.The business had revenue of $172.11 million during the quarter, compared to analyst estimates of $174.54 million. Equities analysts expect that Banner will post 6.17 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BANR has been the subject of several research analyst reports. DA Davidson reissued a “neutral” rating and issued a $72.00 price objective on shares of Banner in a research note on Monday, May 4th. Weiss Ratings raised Banner from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Piper Sandler upped their target price on Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Benchmark began coverage on shares of Banner in a research report on Wednesday, July 8th. They issued a “hold” rating for the company. Finally, Keefe, Bruyette & Woods raised their price target on shares of Banner from $73.00 to $75.00 and gave the stock a “market perform” rating in a report on Monday, May 18th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $71.00.

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.