Banner Corporation (NASDAQ:BANR) Announces Dividend Increase – $0.52 Per Share

Banner Corporation (NASDAQ:BANR) declared a quarterly dividend on Wednesday, April 22nd. Investors 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 by an average of 0.1%per year over the last three years. Banner has a dividend payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. 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 Down 0.4%

Banner stock opened at $63.59 on Thursday. Banner has a fifty-two week low of $57.05 and a fifty-two week high of $69.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50-day simple moving average is $61.53 and its 200 day simple moving average is $62.71. The stock has a market cap of $2.15 billion, a PE ratio of 11.27 and a beta of 0.85.

Banner (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $1.59 EPS for the quarter, beating the consensus estimate of $1.37 by $0.22. Banner had a net margin of 22.26% and a return on equity of 10.46%. The firm had revenue of $168.91 million during the quarter, compared to analyst estimates of $169.60 million. Research analysts predict that Banner will post 5.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen raised Banner from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Piper Sandler cut their price objective on Banner from $67.00 to $63.00 and set a “neutral” rating on the stock in a research report on Thursday, April 2nd. Finally, Weiss Ratings upgraded Banner from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus 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.