Banner Co. (NASDAQ:BANR – Get Rating) announced a quarterly dividend on Wednesday, April 20th, Zacks reports. Shareholders of record on Tuesday, May 3rd will be paid 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 dividend yield of 3.06%. The ex-dividend date of this dividend is Monday, May 2nd.
Banner has a payout ratio of 31.8% meaning its dividend is sufficiently covered by earnings. Equities research 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%.
Shares of NASDAQ:BANR opened at $57.50 on Friday. The firm has a fifty day moving average of $43.95 and a two-hundred day moving average of $38.63. The firm has a market capitalization of $1.97 billion, a P/E ratio of 9.97 and a beta of 1.05. Banner has a 12-month low of $49.10 and a 12-month high of $66.79. The company has a quick ratio of 0.79, a current ratio of 0.80 and a debt-to-equity ratio of 0.32.
Banner (NASDAQ:BANR – Get Rating) last issued its earnings results on Wednesday, April 20th. The financial services provider reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.17. Banner had a net margin of 32.62% and a return on equity of 12.42%. During the same quarter last year, the company posted $1.33 earnings per share. Equities research analysts expect that Banner will post 4.75 earnings per share for the current fiscal year.
In other Banner news, Director David I. Matson sold 1,738 shares of the firm’s stock in a transaction on Monday, January 31st. The shares were sold at an average price of $61.06, for a total value of $106,122.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Kenneth William Johnson sold 2,900 shares of the firm’s stock in a transaction on Monday, March 14th. The stock was sold at an average price of $61.50, for a total transaction of $178,350.00. The disclosure for this sale can be found here. Company insiders own 1.37% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of BANR. Morgan Stanley boosted its position in shares of Banner by 19.9% during the 3rd quarter. Morgan Stanley now owns 138,265 shares of the financial services provider’s stock valued at $7,633,000 after acquiring an additional 22,927 shares in the last quarter. Royal Bank of Canada boosted its position in shares of Banner by 30.5% during the 3rd quarter. Royal Bank of Canada now owns 12,002 shares of the financial services provider’s stock valued at $663,000 after acquiring an additional 2,805 shares in the last quarter. Millennium Management LLC boosted its position in shares of Banner by 57.1% during the 3rd quarter. Millennium Management LLC now owns 19,466 shares of the financial services provider’s stock valued at $1,075,000 after acquiring an additional 7,074 shares in the last quarter. JPMorgan Chase & Co. acquired a new stake in shares of Banner during the 4th quarter valued at about $488,000. Finally, Sequoia Financial Advisors LLC boosted its position in shares of Banner by 4.3% during the 4th 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 in the last quarter. Institutional investors own 83.75% of the company’s stock.
A number of research firms have recently weighed in on BANR. Raymond James cut their price target on shares of Banner from $72.00 to $70.00 and set a “strong-buy” rating on the stock in a report on Friday. StockNews.com began coverage on shares of Banner in a report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research upgraded shares of Banner from a “hold” rating to a “buy” rating and set a $68.00 price target on the stock in a report on Monday, March 28th.
About Banner (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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