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

Key Points

• Banner declared a quarterly dividend of $0.52 per share, payable May 15 to shareholders of record May 5, a 4.0% increase from $0.50 and implying roughly a 3.3% annualized yield.
• The company beat earnings estimates, reporting $1.59 EPS versus $1.37 expected while revenue was roughly in line, and its ~34.8% payout ratio (with analysts forecasting ~$6.24 EPS next year) indicates the $2.00 annual dividend is well covered.
• Banner trades at a PE of about 11.3 with a $2.15 billion market cap, and analyst coverage is mixed—an average rating of "Hold" with an average price target of $69 after recent target cuts and upgrades/downgrades.

Banner Corporation (NASDAQ:BANR - Get Free Report) declared a quarterly dividend on Wednesday, April 22nd. Stockholders of record on Tuesday, May 5th will be given a dividend of 0.52 per share by the financial services provider on Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Tuesday, May 5th. This is a 4.0% increase from Banner's previous quarterly dividend of $0.50.

Banner has decreased its dividend payment by an average of 0.1%annually over the last three years. Banner has a dividend payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Banner to earn $6.24 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 32.1%.

Banner Stock Performance

Shares of BANR opened at $63.59 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a 50-day moving average of $61.53 and a 200-day moving average of $62.71. The company has a market cap of $2.15 billion, a PE ratio of 11.27 and a beta of 0.85. Banner has a one year low of $57.05 and a one year high of $69.83.

Banner (NASDAQ:BANR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $1.59 earnings per share for the quarter, topping analysts' consensus estimates of $1.37 by $0.22. The business had revenue of $168.91 million for the quarter, compared to the consensus estimate of $169.60 million. Banner had a return on equity of 10.46% and a net margin of 22.26%. On average, equities research analysts predict that Banner will post 5.85 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on BANR. Wall Street Zen upgraded Banner from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Weiss Ratings raised shares of Banner from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, March 9th. Finally, Piper Sandler decreased their price target on shares of Banner from $67.00 to $63.00 and set a "neutral" rating for the company in a research note on Thursday, April 2nd. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Banner currently has an average rating of "Hold" and an average price target of $69.00.

Banner Company Profile

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.

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