Banner said on January 19, 2023 that its board of directors declared a regular quarterly dividend of $0.48 per share. Shareholders of record as of February 1, 2023 will receive the payment on February 13, 2023. Previously, the company paid $0.44 per share.

At the most recent share price of $63.32 / share, the stock’s dividend yield is 0.76%. Additionally, the company’s dividend payout ratio is 0.34, indicating it is retaining a low percentage of its earnings to reinvest in growth opportunities.

The company’s 3-Year dividend growth rate is 0.17%, demonstrating that it consistently increased its dividends over time.

Analyst Price Forecast Suggests 19.20% Upside

As of January 24, 2023, the average one-year price target for Banner is $75.48. The forecasts range from a low of $70.70 to a high of $82.95. The average price target represents an increase of 19.20% from its latest reported closing price of $63.32.

The projected annual revenue for Banner is $633MM, an increase of 2.36%. The projected annual EPS is $6.56, an increase of 14.99%.

Fund Sentiment

There are 562 funds or institutions reporting positions in Banner Corporation. This is an increase of 8 owner(s) or 1.44%.

Average portfolio weight of all funds dedicated to Banner Corporation is 0.2356%, an increase of 15.9274%. Total shares owned by institutions increased in the last three months by 2.21% to 35,199,083 shares.

What are large shareholders doing?

Channing Capital Management, LLC holds 1,164,752 shares representing 3.41% ownership of the company. In it’s prior filing, the firm reported owning 1,324,584 shares, representing a decrease of 13.72%. The firm decreased its portfolio allocation in BANR by 2.16% over the last quarter.

Nuveen Asset Management, LLC holds 935,067 shares representing 2.73% ownership of the company. In it’s prior filing, the firm reported owning 876,504 shares, representing an increase of 6.26%. The firm decreased its portfolio allocation in BANR by 28.91% over the last quarter.

Charles Schwab Investment Management Inc holds 842,946 shares representing 2.47% ownership of the company. In it’s prior filing, the firm reported owning 777,814 shares, representing an increase of 7.73%. The firm increased its portfolio allocation in BANR by 17.25% over the last quarter.

Goldman Sachs Group Inc holds 780,311 shares representing 2.28% ownership of the company. In it’s prior filing, the firm reported owning 890,564 shares, representing a decrease of 14.13%. The firm decreased its portfolio allocation in BANR by 5.78% over the last quarter.

Bank of New York Mellon Corp holds 761,715 shares representing 2.23% ownership of the company. In it’s prior filing, the firm reported owning 772,394 shares, representing a decrease of 1.40%. The firm decreased its portfolio allocation in BANR by 50.73% over the last quarter.

Banner Corp. Background Information
(This description is provided by the company.)

Banner Corporation is a $15.03 billion bank holding company operating a commercial bank in four Western states through a network of branches offering a full range of deposit services and business, commercial real estate, construction, residential, agricultural and consumer loans.

This article originally appeared on Fintel

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