Banner Corporation (BANR) to Issue Quarterly Dividend of $0.50 on November 14th

Banner Corporation (NASDAQ:BANR) announced a quarterly dividend on Wednesday, October 15th. Stockholders of record on Tuesday, November 4th will be paid a dividend of 0.50 per share by the financial services provider on Friday, November 14th. This represents a c) dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Tuesday, November 4th. This is a 4.2% increase from Banner’s previous quarterly dividend of $0.48.

Banner has increased its dividend payment by an average of 0.0%per year over the last three years. Banner has a dividend payout ratio of 34.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Banner to earn $5.67 per share next year, which means the company should continue to be able to cover its $2.00 annual dividend with an expected future payout ratio of 35.3%.

Banner Trading Down 0.6%

Shares of NASDAQ:BANR opened at $60.39 on Friday. The company has a 50 day moving average of $64.75 and a 200-day moving average of $64.05. The firm has a market cap of $2.09 billion, a P/E ratio of 11.00 and a beta of 0.91. Banner has a twelve month low of $54.01 and a twelve month high of $78.05. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The company had revenue of $168.75 million during the quarter, compared to analyst estimates of $171.52 million. Banner had a net margin of 21.80% and a return on equity of 10.32%. As a group, analysts anticipate that Banner will post 5.23 earnings per share for the current fiscal year.

Institutional Trading of Banner

A number of institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC acquired a new position in shares of Banner during the 2nd quarter worth $45,000. GAMMA Investing LLC increased its stake in shares of Banner by 53.9% during the 1st quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 264 shares during the last quarter. Quarry LP increased its stake in shares of Banner by 4,612.0% during the 1st quarter. Quarry LP now owns 1,178 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 1,153 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of Banner during the 2nd quarter worth $99,000. Finally, CWM LLC increased its stake in shares of Banner by 21.9% during the 3rd quarter. CWM LLC now owns 1,619 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 291 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

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.