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

Banner Co. (NASDAQ:BANR - Get Free Report) declared a quarterly dividend on Wednesday, April 16th, RTT News reports. Investors of record on Tuesday, April 29th will be given a dividend of 0.48 per share by the financial services provider on Friday, May 9th. This represents a $1.92 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Tuesday, April 29th.

Banner has increased its dividend payment by an average of 5.4% annually over the last three years. Banner has a payout ratio of 34.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect Banner to earn $5.67 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 33.9%.

Banner Stock Down 1.3 %

Shares of Banner stock traded down $0.77 on Monday, hitting $59.72. 221,515 shares of the company's stock traded hands, compared to its average volume of 212,207. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. The firm's 50-day moving average is $63.55 and its 200 day moving average is $67.16. The stock has a market cap of $2.06 billion, a P/E ratio of 12.24 and a beta of 0.94. Banner has a 52-week low of $43.63 and a 52-week high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.06. Banner had a net margin of 20.28% and a return on equity of 10.03%. The company had revenue of $159.88 million during the quarter, compared to the consensus estimate of $159.72 million. During the same quarter in the previous year, the firm earned $1.22 EPS. Equities analysts anticipate that Banner will post 5.23 earnings per share for the current year.

Analysts Set New Price Targets

BANR has been the topic of a number of research analyst reports. Keefe, Bruyette & Woods reduced their target price on Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a report on Monday. DA Davidson boosted their target price on shares of Banner from $73.00 to $76.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Stephens restated an "overweight" rating and issued a $73.00 price target on shares of Banner in a research report on Monday. Raymond James reaffirmed an "outperform" rating and set a $65.00 price objective (down previously from $77.00) on shares of Banner in a research report on Monday. Finally, Janney Montgomery Scott raised shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 target price on the stock in a report on Monday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $70.83.

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.