Banner (NASDAQ:BANR) Reaches New 52-Week High After Dividend Announcement

Banner Co. (NASDAQ:BANR - Get Free Report)'s stock price reached a new 52-week high on Wednesday following a dividend announcement from the company. The stock traded as high as $73.00 and last traded at $72.77, with a volume of 1965 shares traded. The stock had previously closed at $65.18.

The newly announced dividend which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a yield of 2.57%. Banner's dividend payout ratio is currently 40.17%.

Analyst Ratings Changes

A number of analysts have recently issued reports on BANR shares. DA Davidson lifted their price target on Banner from $60.00 to $69.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Stephens reiterated an "overweight" rating and set a $53.00 target price on shares of Banner in a research report on Thursday, July 18th. Piper Sandler set a $67.00 price target on shares of Banner in a report on Thursday, October 17th. Janney Montgomery Scott downgraded shares of Banner from a "buy" rating to a "neutral" rating in a report on Friday, July 19th. Finally, Raymond James increased their target price on Banner from $62.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $61.60.

Banner Price Performance

The firm's fifty day moving average price is $61.05 and its 200-day moving average price is $54.09. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.58 billion, a P/E ratio of 15.64 and a beta of 1.04.

Banner (NASDAQ:BANR - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.18 by $0.12. The business had revenue of $213.90 million during the quarter, compared to the consensus estimate of $152.95 million. Banner had a return on equity of 10.22% and a net margin of 20.28%. During the same quarter in the prior year, the company earned $1.43 earnings per share. Analysts forecast that Banner Co. will post 4.82 earnings per share for the current year.

Institutional Investors Weigh In On Banner

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Boston Partners bought a new stake in shares of Banner in the 1st quarter worth approximately $1,025,000. Westwood Holdings Group Inc. grew its stake in shares of Banner by 3.7% in the first quarter. Westwood Holdings Group Inc. now owns 717,058 shares of the financial services provider's stock worth $34,419,000 after acquiring an additional 25,525 shares during the last quarter. Entropy Technologies LP bought a new position in shares of Banner during the first quarter valued at $247,000. Edgestream Partners L.P. purchased a new position in shares of Banner in the 1st quarter worth about $4,931,000. Finally, BNP Paribas Financial Markets boosted its stake in Banner by 35.0% in the 1st quarter. BNP Paribas Financial Markets now owns 28,817 shares of the financial services provider's stock worth $1,383,000 after purchasing an additional 7,467 shares in the last quarter. Hedge funds and other institutional investors own 87.33% of the company's stock.

Banner Company Profile

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.