Banner Corporation (NASDAQ:BANR) Plans Quarterly Dividend of $0.50

Key Points

• Banner Corporation announced a quarterly dividend of $0.50 per share, representing a 4.2% increase from the previous dividend of $0.48, with a payment date set for November 14th.
• The company's payout ratio is currently 33.4%, indicating strong coverage of its dividend by earnings, and analysts predict an increase to 33.9% next year.
• Recent analyst ratings for Banner have shown a mixture of outlooks, with one firm downgrading it to a "sell" while another set a target price of $72.00, maintaining a "neutral" rating.

Banner Corporation (NASDAQ:BANR - Get Free Report) declared a quarterly dividend on Wednesday, October 15th. Stockholders of record on Tuesday, November 4th will be paid a dividend of 0.50 per share by the financial services provider on Friday, November 14th. This represents a c) annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, November 4th. This is a 4.2% increase from Banner's previous quarterly dividend of $0.48.

Banner has a payout ratio of 33.4% indicating that its dividend is sufficiently covered by earnings. 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 Performance

Shares of BANR opened at $62.62 on Thursday. The stock has a 50-day simple moving average of $65.24 and a 200-day simple moving average of $63.73. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $2.17 billion, a PE ratio of 11.93 and a beta of 0.91. Banner has a 1 year low of $54.01 and a 1 year high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) last announced its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.03. The business had revenue of $162.98 million during the quarter, compared to analysts' expectations of $167.96 million. Banner had a return on equity of 10.06% and a net margin of 21.15%. On average, analysts predict that Banner will post 5.23 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BANR has been the subject of several recent analyst reports. Wall Street Zen cut Banner from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Weiss Ratings reissued a "buy (b-)" rating on shares of Banner in a report on Wednesday, October 8th. Finally, DA Davidson boosted their target price on Banner from $67.00 to $72.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat, Banner currently has an average rating of "Moderate Buy" and a consensus target price of $70.17.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.