Banner Co. (NASDAQ:BANR) announced a quarterly dividend on Thursday, March 26th, Wall Street Journal reports. Stockholders of record on Wednesday, April 8th will be paid a dividend of 0.41 per share by the financial services provider on Friday, April 17th. This represents a $1.64 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend is Tuesday, April 7th.
Banner has increased its dividend by an average of 18.7% per year over the last three years and has raised its dividend every year for the last 7 years. Banner has a dividend payout ratio of 47.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Banner to earn $3.89 per share next year, which means the company should continue to be able to cover its $1.64 annual dividend with an expected future payout ratio of 42.2%.
BANR stock traded up $2.84 during mid-day trading on Thursday, reaching $34.14. 209,784 shares of the company traded hands, compared to its average volume of 249,291. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 8.15 and a beta of 0.85. The company has a quick ratio of 0.93, a current ratio of 0.95 and a debt-to-equity ratio of 0.43. Banner has a fifty-two week low of $27.12 and a fifty-two week high of $60.21. The firm’s 50 day moving average price is $45.04 and its 200 day moving average price is $52.69.
Banner (NASDAQ:BANR) last released its quarterly earnings results on Thursday, January 23rd. The financial services provider reported $1.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.04 by $0.03. The business had revenue of $139.77 million during the quarter, compared to the consensus estimate of $138.18 million. Banner had a return on equity of 9.91% and a net margin of 24.07%. On average, analysts anticipate that Banner will post 3.74 EPS for the current fiscal year.
A number of equities analysts have issued reports on BANR shares. TheStreet downgraded Banner from a “b-” rating to a “c+” rating in a research note on Tuesday, March 10th. Zacks Investment Research downgraded Banner from a “hold” rating to a “sell” rating in a research note on Monday. Finally, BidaskClub downgraded Banner from a “sell” rating to a “strong sell” rating in a research note on Saturday, March 7th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. Banner has a consensus rating of “Hold” and a consensus target price of $61.50.
Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank that provides commercial banking and financial products and services to individuals, businesses, and public sector entities primarily in the United States. It offers deposit products, 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.
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