Banner Corp. (BANR) To Go Ex-Dividend on October 5th
Banner Corp. (NASDAQ:BANR) declared a quarterly dividend on Wednesday, September 28th. Stockholders of record on Monday, October 10th will be given a dividend of 0.23 per share by the financial services provider on Wednesday, October 19th. This represents a $0.92 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Wednesday, October 5th. This is an increase from Banner Corp.’s previous quarterly dividend of $0.21.
Banner Corp. (NASDAQ:BANR) opened at 43.51 on Friday. The stock has a 50 day moving average price of $43.46 and a 200 day moving average price of $42.72. The company has a market cap of $1.49 billion, a P/E ratio of 22.84 and a beta of 1.70. Banner Corp. has a 1-year low of $35.39 and a 1-year high of $53.55.
Banner Corp. (NASDAQ:BANR) last announced its earnings results on Tuesday, July 26th. The financial services provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by $0.05. Banner Corp. had a net margin of 13.96% and a return on equity of 6.70%. On average, equities research analysts anticipate that Banner Corp. will post $2.81 EPS for the current fiscal year.
A number of equities research analysts have recently issued reports on BANR shares. Zacks Investment Research upgraded Banner Corp. from a “sell” rating to a “hold” rating in a research report on Monday, September 19th. DA Davidson restated a “buy” rating and issued a $52.00 price target on shares of Banner Corp. in a research report on Tuesday, August 23rd. Keefe, Bruyette & Woods dropped their price target on Banner Corp. from $49.00 to $48.00 and set a “market perform” rating for the company in a research report on Thursday, July 28th. Finally, FBR & Co dropped their price target on Banner Corp. from $50.00 to $48.00 and set a “market perform” rating for the company in a research report on Friday, July 29th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $50.40.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Trexquant Investment LP acquired a new position in shares of Banner Corp. during the second quarter valued at $314,000. BlackRock Inc. raised its position in shares of Banner Corp. by 427.3% in the second quarter. BlackRock Inc. now owns 7,636 shares of the financial services provider’s stock valued at $325,000 after buying an additional 6,188 shares during the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Banner Corp. by 2.2% in the second quarter. Parametric Portfolio Associates LLC now owns 9,131 shares of the financial services provider’s stock valued at $388,000 after buying an additional 196 shares during the last quarter. Deere & Co. acquired a new position in shares of Banner Corp. during the second quarter valued at $420,000. Finally, Highbridge Capital Management LLC acquired a new position in shares of Banner Corp. during the second quarter valued at $420,000. Institutional investors own 77.17% of the company’s stock.
Banner Corp. Company Profile
Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a regional bank that offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its market areas.
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