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

Banner Co. (NASDAQ:BANR) declared a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Stockholders of record on Tuesday, February 4th will be given a dividend of 0.48 per share by the financial services provider on Friday, February 14th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend is Tuesday, February 4th.

Banner has increased its dividend payment by an average of 5.4% per year over the last three years. Banner has a payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Banner to earn $4.89 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 39.3%.

Banner Stock Performance

Shares of NASDAQ:BANR traded down $0.03 during trading on Thursday, reaching $70.14. The stock had a trading volume of 171,803 shares, compared to its average volume of 246,691. Banner has a 52 week low of $42.00 and a 52 week high of $78.05. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 14.66 and a beta of 1.09. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The stock has a fifty day simple moving average of $70.42 and a two-hundred day simple moving average of $63.56.

Banner (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.11. Banner had a net margin of 20.28% and a return on equity of 10.22%. As a group, analysts anticipate that Banner will post 4.9 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BANR has been the topic of a number of research reports. Piper Sandler set a $67.00 target price on shares of Banner in a research report on Thursday, October 17th. Keefe, Bruyette & Woods boosted their target price on shares of Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens reaffirmed an “overweight” rating and set a $82.00 target price on shares of Banner in a research report on Thursday. DA Davidson boosted their target price on shares of Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Raymond James boosted their target price on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. One research 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 data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $72.80.

Insider Buying and Selling at Banner

In other news, VP James P.G. Mclean sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total value of $113,445.00. Following the sale, the vice president now owns 21,868 shares in the company, valued at approximately $1,653,876.84. The trade was a 6.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.60% of the company’s stock.

About Banner

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.