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

Banner Co. (NASDAQ:BANR) declared a quarterly dividend on Wednesday, April 17th, Zacks reports. Investors of record on Tuesday, April 30th will be paid a dividend of 0.48 per share by the financial services provider on Friday, May 10th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date is Monday, April 29th.

Banner has increased its dividend by an average of 5.4% per year over the last three years and has raised its dividend every year for the last 2 years. Banner has a payout ratio of 38.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Banner to earn $5.13 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 37.4%.

Banner Price Performance

Shares of NASDAQ:BANR opened at $43.73 on Friday. Banner has a fifty-two week low of $39.31 and a fifty-two week high of $55.66. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.83 and a current ratio of 0.83. The firm has a fifty day moving average price of $45.35 and a 200 day moving average price of $46.43. The firm has a market cap of $1.50 billion, a price-to-earnings ratio of 9.09 and a beta of 1.03.

Banner (NASDAQ:BANR) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $1.34 EPS for the quarter, beating the consensus estimate of $1.31 by $0.03. Banner had a net margin of 21.62% and a return on equity of 11.64%. The business had revenue of $152.46 million during the quarter, compared to analyst estimates of $155.54 million. As a group, sell-side analysts expect that Banner will post 4.64 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on BANR. Raymond James increased their price objective on shares of Banner from $47.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods lowered their price objective on shares of Banner from $58.00 to $54.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Banner currently has a consensus rating of “Moderate Buy” and an average target price of $53.75.

Institutional Investors Weigh In On Banner

Institutional investors have recently made changes to their positions in the company. Eagle Bay Advisors LLC lifted its holdings in shares of Banner by 126.7% in the 2nd quarter. Eagle Bay Advisors LLC now owns 501 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 280 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Banner in the 2nd quarter worth about $27,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Banner in the 4th quarter worth about $44,000. Belpointe Asset Management LLC lifted its holdings in shares of Banner by 88.1% in the 1st quarter. Belpointe Asset Management LLC now owns 790 shares of the financial services provider’s stock worth $43,000 after acquiring an additional 370 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Banner in the 2nd quarter worth about $43,000. Institutional investors own 87.33% 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.