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

Banner Corporation (NASDAQ:BANR) declared a quarterly dividend on Wednesday, July 22nd. Investors of record on Tuesday, August 4th will be paid a dividend of 0.52 per share by the financial services provider on Friday, August 14th. This represents a c) dividend on an annualized basis and a yield of 3.0%. The ex-dividend date is Tuesday, August 4th.

Banner has decreased its dividend by an average of 0.1%per year over the last three years. Banner has a payout ratio of 36.2% meaning its dividend is sufficiently covered by earnings. Equities research 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%

NASDAQ BANR opened at $69.62 on Thursday. The company has a market cap of $2.36 billion, a P/E ratio of 11.72 and a beta of 0.83. Banner has a one year low of $57.05 and a one year high of $72.65. The business has a fifty day moving average price of $66.38 and a 200 day moving average price of $64.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.86.

Banner (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02). Banner had a net margin of 23.24% and a return on equity of 10.77%. The business had revenue of $172.11 million during the quarter, compared to analyst estimates of $174.54 million. Research analysts anticipate that Banner will post 6.17 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently commented on BANR. Piper Sandler upped their price objective on Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, April 27th. DA Davidson reissued a “neutral” rating and set a $72.00 price objective on shares of Banner in a research report on Monday, May 4th. Weiss Ratings raised Banner from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Keefe, Bruyette & Woods lifted their target price on shares of Banner from $73.00 to $75.00 and gave the company a “market perform” rating in a report on Monday, May 18th. Finally, Benchmark began coverage on shares of Banner in a research report on Wednesday, July 8th. They set a “hold” rating for the company. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Banner has a consensus rating of “Hold” and a consensus 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.