Banner Corporation (BANR) to Issue Quarterly Dividend of $0.48 on August 15th

Banner Corporation (NASDAQ:BANR) declared a quarterly dividend on Wednesday, July 16th, RTT News reports. Investors of record on Tuesday, August 5th will be paid a dividend of 0.48 per share by the financial services provider on Friday, August 15th. This represents a $1.92 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Tuesday, August 5th.

Banner has a dividend payout ratio of 33.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Banner to earn $5.67 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 33.9%.

Banner Price Performance

NASDAQ BANR opened at $67.21 on Friday. The firm has a market capitalization of $2.32 billion, a P/E ratio of 12.80 and a beta of 0.89. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.24. Banner has a 12-month low of $51.14 and a 12-month high of $78.05. The firm’s fifty day simple moving average is $64.18 and its two-hundred day simple moving average is $64.84.

Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.03. The company had revenue of $162.98 million during the quarter, compared to the consensus estimate of $167.96 million. Banner had a net margin of 21.15% and a return on equity of 10.15%. Analysts forecast that Banner will post 5.23 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Stephens reissued an “overweight” rating and issued a $73.00 price target on shares of Banner in a research note on Monday, April 21st. Raymond James Financial reissued an “outperform” rating and issued a $65.00 price objective (down from $77.00) on shares of Banner in a research report on Monday, April 21st. Wall Street Zen downgraded shares of Banner from a “hold” rating to a “sell” rating in a research report on Thursday, May 29th. Keefe, Bruyette & Woods lowered their price objective on shares of Banner from $75.00 to $73.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st. Finally, Janney Montgomery Scott upgraded shares of Banner from a “neutral” rating to a “buy” rating and set a $71.00 target price for the company in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $70.83.

Institutional Investors Weigh In On Banner

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Banner during the 1st quarter worth $248,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Banner by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,422 shares of the financial services provider’s stock worth $1,302,000 after acquiring an additional 891 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of Banner by 54.7% during the 1st quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider’s stock worth $1,412,000 after buying an additional 7,828 shares in the last quarter. Intech Investment Management LLC increased its holdings in shares of Banner by 48.9% during the first quarter. Intech Investment Management LLC now owns 24,505 shares of the financial services provider’s stock valued at $1,563,000 after acquiring an additional 8,050 shares in the last quarter. Finally, AQR Capital Management LLC boosted its position in shares of Banner by 19.6% during the first quarter. AQR Capital Management LLC now owns 29,714 shares of the financial services provider’s stock valued at $1,895,000 after buying an additional 4,877 shares during the last quarter. Institutional investors own 87.33% of the company’s stock.

Banner Company Profile

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.