Aberdeen Group plc Has $23.62 Million Position in Banner Corporation $BANR

Key Points

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Aberdeen Group plc grew its stake in shares of Banner Corporation (NASDAQ:BANR - Free Report) by 16.1% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 370,443 shares of the financial services provider's stock after acquiring an additional 51,508 shares during the quarter. Aberdeen Group plc owned about 1.07% of Banner worth $23,623,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of BANR. Wells Fargo & Company MN lifted its position in shares of Banner by 31.7% during the 4th quarter. Wells Fargo & Company MN now owns 25,338 shares of the financial services provider's stock valued at $1,692,000 after acquiring an additional 6,097 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Banner by 33.5% during the 4th quarter. Envestnet Asset Management Inc. now owns 12,041 shares of the financial services provider's stock valued at $804,000 after acquiring an additional 3,022 shares during the period. Bank of Montreal Can lifted its position in shares of Banner by 9.5% during the 4th quarter. Bank of Montreal Can now owns 3,792 shares of the financial services provider's stock valued at $253,000 after acquiring an additional 330 shares during the period. Invesco Ltd. lifted its position in shares of Banner by 2.0% during the 4th quarter. Invesco Ltd. now owns 134,060 shares of the financial services provider's stock valued at $8,951,000 after acquiring an additional 2,637 shares during the period. Finally, Sterling Capital Management LLC lifted its position in shares of Banner by 816.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock valued at $72,000 after acquiring an additional 964 shares during the period. 87.33% of the stock is currently owned by institutional investors.

Banner Price Performance

Shares of Banner stock traded up $3.88 during trading on Friday, reaching $67.71. 199,019 shares of the company's stock were exchanged, compared to its average volume of 218,636. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.88 and a current ratio of 0.88. Banner Corporation has a 1-year low of $53.78 and a 1-year high of $78.05. The company has a market cap of $2.34 billion, a P/E ratio of 12.90 and a beta of 0.93. The firm's 50-day moving average price is $64.83 and its 200 day moving average price is $63.94.

Banner (NASDAQ:BANR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.03. Banner had a return on equity of 10.06% and a net margin of 21.15%.The company had revenue of $162.98 million during the quarter, compared to analysts' expectations of $167.96 million. As a group, research analysts anticipate that Banner Corporation will post 5.23 earnings per share for the current year.

Banner Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Tuesday, August 5th. Banner's dividend payout ratio is presently 36.57%.

Analysts Set New Price Targets

BANR has been the subject of a number of research analyst reports. Wall Street Zen cut Banner from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. DA Davidson boosted their price target on Banner from $67.00 to $72.00 and gave the stock a "neutral" rating in a report on Friday, July 18th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.17.

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.