Banner (NASDAQ:BANR) Sees Large Volume Increase - Here's What Happened

Key Points

• Shares of Banner (NASDAQ:BANR) experienced an unusually high trading volume of about 370,096 shares (up 25% vs. the prior session) while the stock traded near $66.40 and was down roughly 1.8%.
• Banner beat EPS estimates with $1.59 per share (vs. $1.38 expected) though revenue was slightly below forecasts, and the company raised its quarterly dividend to $0.52 (3.2% yield; ex-dividend May 5).
• Analyst activity picked up: Weiss Ratings upgraded to a Buy, Wall Street Zen moved to Hold, and Piper Sandler raised its target to $67; the consensus remains a Hold with a $70 target.

Shares of Banner Corporation (NASDAQ:BANR - Get Free Report) saw unusually-high trading volume on Friday . Approximately 370,096 shares traded hands during mid-day trading, an increase of 25% from the previous session's volume of 295,674 shares.The stock last traded at $66.4010 and had previously closed at $66.91.

Analyst Ratings Changes

BANR has been the topic of several recent research reports. Weiss Ratings raised shares of Banner from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 9th. Wall Street Zen raised shares of Banner from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Finally, Piper Sandler raised their target price on shares of Banner from $63.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $70.00.

Banner Stock Down 1.8%

The company has a market cap of $2.22 billion, a P/E ratio of 11.06 and a beta of 0.85. The firm's 50 day moving average price is $61.87 and its 200-day moving average price is $62.88. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10.

Banner (NASDAQ:BANR - Get Free Report) 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 $1.38 by $0.21. The business had revenue of $168.91 million for the quarter, compared to the consensus estimate of $169.60 million. Banner had a net margin of 23.24% and a return on equity of 10.77%. As a group, equities research analysts expect that Banner Corporation will post 6.23 EPS for the current year.

Banner Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th will be issued a dividend of $0.52 per share. This is an increase from Banner's previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, May 5th. This represents a $2.08 annualized dividend and a yield of 3.2%. Banner's dividend payout ratio is 33.67%.

Institutional Trading of Banner

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Royal Bank of Canada raised its holdings in shares of Banner by 1.0% in the fourth quarter. Royal Bank of Canada now owns 17,519 shares of the financial services provider's stock valued at $1,097,000 after purchasing an additional 167 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Banner by 0.4% in the third quarter. First Trust Advisors LP now owns 41,634 shares of the financial services provider's stock valued at $2,727,000 after purchasing an additional 175 shares during the last quarter. US Bancorp DE raised its holdings in shares of Banner by 8.9% in the third quarter. US Bancorp DE now owns 2,154 shares of the financial services provider's stock valued at $141,000 after purchasing an additional 176 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Banner by 1.8% in the third quarter. Arizona State Retirement System now owns 10,240 shares of the financial services provider's stock valued at $671,000 after buying an additional 177 shares in the last quarter. Finally, ProShare Advisors LLC grew its stake in shares of Banner by 3.1% in the fourth quarter. ProShare Advisors LLC now owns 6,628 shares of the financial services provider's stock valued at $415,000 after buying an additional 197 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

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.

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