Banner Co. (NASDAQ:BANR) Plans $0.44 Quarterly Dividend

Banner Co. (NASDAQ:BANRGet Rating) declared a quarterly dividend on Wednesday, April 20th, Zacks reports. Investors of record on Tuesday, May 3rd will be given a dividend of 0.44 per share by the financial services provider on Friday, May 13th. This represents a $1.76 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date is Monday, May 2nd.

Banner has a payout ratio of 31.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Banner to earn $5.46 per share next year, which means the company should continue to be able to cover its $1.76 annual dividend with an expected future payout ratio of 32.2%.

NASDAQ BANR opened at $57.50 on Friday. The stock has a market capitalization of $1.97 billion, a price-to-earnings ratio of 9.97 and a beta of 1.05. Banner has a twelve month low of $49.10 and a twelve month high of $66.79. The company has a current ratio of 0.80, a quick ratio of 0.79 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $43.95 and a 200 day moving average of $38.63.

Banner (NASDAQ:BANRGet Rating) last released its quarterly earnings results on Wednesday, April 20th. The financial services provider reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.17. Banner had a return on equity of 12.42% and a net margin of 32.62%. During the same period in the previous year, the business posted $1.33 earnings per share. Equities analysts predict that Banner will post 4.75 EPS for the current fiscal year.

In other news, VP Kenneth William Johnson sold 2,900 shares of the company’s stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $61.50, for a total value of $178,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David I. Matson sold 1,738 shares of the company’s stock in a transaction that occurred on Monday, January 31st. The shares were sold at an average price of $61.06, for a total value of $106,122.28. The disclosure for this sale can be found here. 1.37% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC lifted its holdings in Banner by 4.3% in the fourth quarter. Sequoia Financial Advisors LLC now owns 7,450 shares of the financial services provider’s stock valued at $452,000 after acquiring an additional 308 shares during the last quarter. Stifel Financial Corp lifted its stake in Banner by 0.5% during the fourth quarter. Stifel Financial Corp now owns 100,943 shares of the financial services provider’s stock worth $6,124,000 after purchasing an additional 528 shares in the last quarter. California State Teachers Retirement System lifted its stake in Banner by 1.2% during the fourth quarter. California State Teachers Retirement System now owns 47,837 shares of the financial services provider’s stock worth $2,902,000 after purchasing an additional 576 shares in the last quarter. Legal & General Group Plc lifted its stake in Banner by 2.2% during the fourth quarter. Legal & General Group Plc now owns 98,050 shares of the financial services provider’s stock worth $5,949,000 after purchasing an additional 2,066 shares in the last quarter. Finally, Credit Suisse AG lifted its stake in Banner by 9.0% during the fourth quarter. Credit Suisse AG now owns 33,611 shares of the financial services provider’s stock worth $2,038,000 after purchasing an additional 2,773 shares in the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.

Several equities research analysts have commented on BANR shares. StockNews.com started coverage on Banner in a research note on Thursday, March 31st. They set a “hold” rating for the company. Raymond James cut their price objective on Banner from $72.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Friday. Finally, Zacks Investment Research upgraded Banner from a “hold” rating to a “buy” rating and set a $68.00 price objective for the company in a research note on Monday, March 28th.

Banner Company Profile (Get Rating)

Banner Corporation operates as the bank holding company for Banner Bank that provide 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.

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Dividend History for Banner (NASDAQ:BANR)

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