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

Banner Co. (NASDAQ:BANR) announced a quarterly dividend on Sunday, August 4th, Zacks reports. Stockholders of record on Tuesday, August 6th will be paid a dividend of 0.48 per share by the financial services provider on Friday, August 16th. This represents a $1.92 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Tuesday, August 6th.

Banner has increased its dividend by an average of 5.4% per year over the last three years. Banner has a dividend payout ratio of 39.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Banner to earn $4.94 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 38.9%.

Banner Stock Performance

Shares of BANR stock opened at $54.88 on Monday. Banner has a 52 week low of $39.31 and a 52 week high of $61.77. The firm’s 50-day simple moving average is $50.77 and its two-hundred day simple moving average is $47.56. The firm has a market cap of $1.89 billion, a price-to-earnings ratio of 11.41 and a beta of 1.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 0.85.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. DA Davidson dropped their price objective on Banner from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Piper Sandler increased their price target on Banner from $51.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Stephens reaffirmed an “overweight” rating and set a $53.00 price objective on shares of Banner in a report on Thursday, July 18th. Janney Montgomery Scott lowered shares of Banner from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Finally, StockNews.com cut shares of Banner from a “hold” rating to a “sell” rating in a research note on Saturday, June 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $54.00.

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.