Banner Co. (BANR) To Go Ex-Dividend on August 6th

Banner Co. (NASDAQ:BANR) announced a quarterly dividend on Saturday, August 3rd, Zacks reports. Investors of record on Tuesday, August 6th will be given a dividend of 0.48 per share by the financial services provider on Friday, August 16th. This represents a $1.92 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Tuesday, August 6th.

Banner has raised its dividend by an average of 5.4% annually over the last three years. Banner has a payout ratio of 39.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Banner to earn $4.94 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 38.9%.

Banner Trading Down 3.0 %

NASDAQ BANR opened at $54.88 on Friday. The stock has a market cap of $1.89 billion, a P/E ratio of 11.41 and a beta of 1.06. Banner has a fifty-two week low of $39.31 and a fifty-two week high of $61.77. The stock has a 50 day simple moving average of $50.77 and a two-hundred day simple moving average of $47.57. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 0.85.

Analyst Ratings Changes

BANR has been the subject of a number of research analyst reports. Piper Sandler raised their price target on Banner from $51.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. Janney Montgomery Scott lowered shares of Banner from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. DA Davidson reduced their price target on shares of Banner from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. StockNews.com lowered shares of Banner from a “hold” rating to a “sell” rating in a report on Saturday, June 8th. Finally, Stephens reiterated an “overweight” rating and set a $53.00 target price on shares of Banner in a report on Thursday, July 18th. 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. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $54.00.

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.