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

Key Points

• Banner Corporation announced a quarterly dividend of $0.52 per share, payable on August 14 to shareholders of record on August 4, implying an annualized yield of about 3.0%.
• The company’s dividend appears well covered, with a 36.2% payout ratio and analyst estimates suggesting Banner should continue to support its $2.08 annual dividend next year.
• Banner recently reported quarterly earnings of $1.44 per share, narrowly missing Wall Street estimates, while analysts currently rate the stock a Hold with an average price target of $71.

Banner Corporation (NASDAQ:BANR - Get Free Report) announced a quarterly dividend on Wednesday, July 22nd. Investors of record on Tuesday, August 4th will be given 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 dividend payout ratio of 36.2% meaning 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 Stock Down 1.6%

BANR opened at $69.62 on Thursday. The stock's 50 day moving average price is $66.38 and its 200 day moving average price is $64.10. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.85. The stock 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.

Banner (NASDAQ:BANR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $174.54 million. As a group, research analysts predict that Banner will post 6.17 earnings per share for the current year.

Analyst Upgrades and Downgrades

BANR has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Banner from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, June 18th. DA Davidson reiterated a "neutral" rating and issued a $72.00 target price on shares of Banner in a research report on Monday, May 4th. Piper Sandler raised 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. Benchmark initiated coverage on shares of Banner in a research report on Wednesday, July 8th. They set a "hold" rating on the stock. Finally, Keefe, Bruyette & Woods upped their price target on shares of Banner from $73.00 to $75.00 and gave the stock a "market perform" rating in a research note on Monday, May 18th. Two equities 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, the company currently 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.

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