Banner Corporation (NASDAQ:BANR) Plans Dividend Increase – $0.52 Per Share

Banner Corporation (NASDAQ:BANR) declared a quarterly dividend on Wednesday, April 22nd. Stockholders of record on Tuesday, May 5th will be paid a dividend of 0.52 per share by the financial services provider on Friday, May 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, May 5th. This is a 4.0% increase from Banner’s previous quarterly dividend of $0.50.

Banner has decreased its dividend payment by an average of 0.1%annually over the last three years. Banner has a dividend payout ratio of 34.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Banner to earn $6.24 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 32.1%.

Banner Stock Up 3.7%

NASDAQ BANR opened at $65.96 on Thursday. Banner has a 1-year low of $57.05 and a 1-year high of $69.83. The company has a market capitalization of $2.23 billion, a price-to-earnings ratio of 11.66 and a beta of 0.85. The stock’s 50 day moving average is $61.53 and its two-hundred day moving average is $62.71. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $1.59 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.22. The firm had revenue of $168.91 million for the quarter, compared to analysts’ expectations of $169.60 million. Banner had a return on equity of 10.46% and a net margin of 22.26%. Equities analysts forecast that Banner will post 5.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BANR. Royal Bank of Canada boosted its position in Banner by 54.7% during the first quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider’s stock worth $1,412,000 after purchasing an additional 7,828 shares during the period. AQR Capital Management LLC lifted its position in Banner by 19.6% during the first quarter. AQR Capital Management LLC now owns 29,714 shares of the financial services provider’s stock worth $1,895,000 after acquiring an additional 4,877 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Banner by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,422 shares of the financial services provider’s stock worth $1,302,000 after acquiring an additional 891 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Banner during the first quarter worth approximately $248,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Banner by 5.5% during the 1st 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 worth $7,427,000 after purchasing an additional 6,059 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors.

About Banner

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.