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

Banner Corporation (NASDAQ:BANR) announced a quarterly dividend on Wednesday, January 21st. Investors of record on Tuesday, February 3rd will be given a dividend of 0.50 per share by the financial services provider on Friday, February 13th. This represents a c) annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, February 3rd.

Banner has raised its dividend payment by an average of 0.0%per year over the last three years. Banner has a dividend payout ratio of 34.8% 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 $2.00 annual dividend with an expected future payout ratio of 35.3%.

Banner Stock Up 2.9%

Shares of NASDAQ BANR opened at $66.03 on Thursday. Banner has a 52-week low of $54.01 and a 52-week high of $72.58. The business’s 50 day moving average is $64.10 and its two-hundred day moving average is $64.40. The firm has a market cap of $2.25 billion, a price-to-earnings ratio of 12.03 and a beta of 0.91. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16.

Banner (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.09. Banner had a return on equity of 10.32% and a net margin of 21.80%.The firm had revenue of $169.90 million for the quarter, compared to the consensus estimate of $173.23 million. Research analysts predict that Banner will post 5.23 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wall Street Zen raised shares of Banner from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Weiss Ratings cut shares of Banner from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Piper Sandler reaffirmed a “neutral” rating and set a $70.00 price objective on shares of Banner in a research report on Monday, December 1st. Raymond James Financial reiterated an “outperform” rating and issued a $70.00 price objective (down from $72.00) on shares of Banner in a research note on Friday, October 17th. Finally, DA Davidson lowered their target price on Banner from $73.00 to $69.00 and set a “neutral” rating for the company in a research note on Friday, October 17th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $71.17.

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.