Banner Corporation (NASDAQ:BANR) Announces Quarterly Dividend of $0.48

Banner Corporation (NASDAQ:BANR - Get Free Report) declared a quarterly dividend on Wednesday, July 16th, RTT News reports. Investors of record on Tuesday, August 5th will be given a dividend of 0.48 per share by the financial services provider on Friday, August 15th. This represents a $1.92 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend is Tuesday, August 5th.

Banner has a dividend payout ratio of 33.4% meaning 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 Stock Performance

BANR stock traded down $1.12 during trading on Friday, reaching $66.09. 222,898 shares of the stock were exchanged, compared to its average volume of 217,949. The stock has a 50 day simple moving average of $64.24 and a 200-day simple moving average of $64.82. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $2.29 billion, a P/E ratio of 12.59 and a beta of 0.89. Banner has a twelve month low of $51.14 and a twelve month high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $1.35 earnings per share 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 analyst estimates of $167.96 million. Banner had a return on equity of 10.06% and a net margin of 21.15%. As a group, sell-side analysts anticipate that Banner will post 5.23 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on BANR shares. Stephens reaffirmed an "overweight" rating and issued a $73.00 price objective on shares of Banner in a research report on Monday, April 21st. Janney Montgomery Scott upgraded Banner from a "neutral" rating to a "buy" rating and set a $71.00 price objective for the company in a report on Monday, April 21st. Raymond James Financial restated an "outperform" rating and issued a $65.00 target price (down previously from $77.00) on shares of Banner in a research note on Monday, April 21st. DA Davidson upped their price target on Banner from $67.00 to $72.00 and gave the stock a "neutral" rating in a research report on Friday. Finally, Wall Street Zen upgraded shares of Banner from a "sell" rating to a "hold" rating in a report on Friday. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $70.17.

Hedge Funds Weigh In On Banner

Hedge funds have recently modified their holdings of the company. Royal Bank of Canada increased its stake in Banner by 54.7% in the 1st quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider's stock worth $1,412,000 after acquiring an additional 7,828 shares during the last quarter. AQR Capital Management LLC lifted its position in 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 purchasing an additional 4,877 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Banner by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,422 shares of the financial services provider's stock worth $1,302,000 after buying an additional 891 shares in the last quarter. Dynamic Technology Lab Private Ltd bought a new position in shares of Banner in the 1st quarter worth $248,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Banner by 5.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,471 shares of the financial services provider's stock valued at $7,427,000 after buying an additional 6,059 shares in 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.