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

Banner Co. (NASDAQ:BANR) declared a quarterly dividend on Thursday, January 23rd,Wall Street Journal reports. Shareholders of record on Tuesday, February 4th will be paid a dividend of 0.48 per share by the financial services provider on Friday, February 14th. This represents a $1.92 annualized dividend and a yield of 2.73%. The ex-dividend date is Tuesday, February 4th.

Banner has raised its dividend payment by an average of 5.4% annually over the last three years. Banner has a dividend payout ratio of 34.5% meaning its dividend is sufficiently covered by earnings. Analysts expect Banner to earn $5.32 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 36.1%.

Banner Trading Up 0.1 %

Shares of Banner stock opened at $70.27 on Friday. Banner has a 1 year low of $42.00 and a 1 year high of $78.05. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market capitalization of $2.42 billion, a P/E ratio of 14.40 and a beta of 1.09. The company’s fifty day moving average is $70.36 and its two-hundred day moving average is $63.60.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.11. Banner had a net margin of 20.28% and a return on equity of 10.11%. Analysts forecast that Banner will post 4.89 earnings per share for the current year.

Insider Activity at Banner

In other Banner news, VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total transaction of $113,445.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Raymond James lifted their target price on shares of Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Stephens reaffirmed an “overweight” rating and issued a $82.00 target price on shares of Banner in a report on Thursday. Keefe, Bruyette & Woods lifted their target price on shares of Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. DA Davidson lifted their target price on shares of Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Piper Sandler set a $67.00 price objective on shares of Banner in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $72.80.

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.