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

Banner Corporation (NASDAQ:BANR - Get Free Report) declared a quarterly dividend on Wednesday, July 16th, RTT News reports. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date 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 Stock Performance

Shares of NASDAQ:BANR traded down $1.12 during mid-day trading on Friday, reaching $66.09. The company had a trading volume of 222,898 shares, compared to its average volume of 218,335. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.24. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 12.59 and a beta of 0.89. The company's 50-day moving average price is $64.18 and its 200-day moving average price is $64.84. Banner has a one year low of $51.14 and a one year high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.03. The company had revenue of $162.98 million for the quarter, compared to analysts' expectations of $167.96 million. Banner had a net margin of 21.15% and a return on equity of 10.15%. As a group, equities research analysts anticipate that Banner will post 5.23 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC increased its stake in Banner by 582.8% in the first quarter. Jane Street Group LLC now owns 40,982 shares of the financial services provider's stock valued at $2,613,000 after acquiring an additional 34,980 shares during the last quarter. Intech Investment Management LLC increased its stake in Banner by 48.9% in 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 during the last quarter. Royal Bank of Canada increased its stake in Banner by 54.7% in the first quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider's stock valued at $1,412,000 after acquiring an additional 7,828 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Banner by 5.5% in the first 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 acquiring an additional 6,059 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in Banner by 19.6% in 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 acquiring an additional 4,877 shares during the last quarter. Hedge funds and other institutional investors own 87.33% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on BANR shares. DA Davidson raised their price target on Banner from $67.00 to $72.00 and gave the stock a "neutral" rating in a report on Friday. Wall Street Zen lowered Banner from a "hold" rating to a "sell" rating in a research note on Thursday, May 29th. Janney Montgomery Scott upgraded Banner from a "neutral" rating to a "buy" rating and set a $71.00 price objective on the stock in a research note on Monday, April 21st. Raymond James Financial reiterated an "outperform" rating and set a $65.00 price objective (down from $77.00) on shares of Banner in a research note on Monday, April 21st. Finally, Keefe, Bruyette & Woods decreased their price objective on Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Banner has a consensus rating of "Hold" and a consensus price target of $70.17.

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.