Banner Corp. (NASDAQ:BANR) announced a quarterly dividend on Wednesday, September 28th. Investors 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 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Wednesday, October 5th. This is an increase from Banner Corp.’s previous quarterly dividend of $0.21.
Banner Corp. (NASDAQ:BANR) last issued its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by $0.05. Banner Corp. had a return on equity of 6.70% and a net margin of 13.96%.
Several large investors have recently modified their holdings of the stock. Trexquant Investment LP bought a new stake in shares of Banner Corp. during the second quarter valued at about $314,000. BlackRock Inc. boosted its stake in 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 boosted its stake in 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 stake in Banner Corp. during the second quarter valued at $420,000. Finally, Thrivent Financial for Lutherans boosted its stake in Banner Corp. by 5.1% in the second quarter. Thrivent Financial for Lutherans now owns 9,880 shares of the financial services provider’s stock valued at $420,000 after buying an additional 480 shares during the last quarter. Institutional investors and hedge funds own 77.17% of the company’s stock.
A number of brokerages have recently issued reports on BANR. Zacks Investment Research upgraded Banner Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, August 24th. DA Davidson restated a “buy” rating and set a $52.00 price objective on shares of Banner Corp. in a report on Tuesday, August 23rd. FBR & Co reduced their price objective on Banner Corp. from $50.00 to $48.00 and set a “market perform” rating for the company in a report on Friday, July 29th. Finally, Keefe, Bruyette & Woods reduced their price objective on Banner Corp. from $49.00 to $48.00 and set a “market perform” rating for the company in a report on Thursday, July 28th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $50.40.
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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