Allianz Asset Management GmbH Buys 10,046 Shares of Banner Corporation (NASDAQ:BANR)

Key Points

• Allianz Asset Management GmbH increased its stake in Banner Corporation by 8.4% during the first quarter, acquiring an additional 10,046 shares, bringing its total ownership to 129,104 shares valued at approximately $8.23 million.
• Banner Corporation recently announced a quarterly dividend of $0.48, resulting in an annualized dividend yield of 2.95% and a payout ratio of 36.57%.
• Analysts have a consensus rating of "Moderate Buy" for Banner Corporation, with an average price target of $70.17, indicating positive sentiment among investment analysts.

Allianz Asset Management GmbH grew its stake in Banner Corporation (NASDAQ:BANR - Free Report) by 8.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 129,104 shares of the financial services provider's stock after acquiring an additional 10,046 shares during the quarter. Allianz Asset Management GmbH owned 0.37% of Banner worth $8,233,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BANR. Opal Wealth Advisors LLC bought a new stake in Banner during the 1st quarter worth approximately $34,000. GAMMA Investing LLC increased its stake in Banner by 53.9% during the 1st quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock worth $48,000 after purchasing an additional 264 shares in the last quarter. USA Financial Formulas increased its stake in Banner by 69.1% during the 1st quarter. USA Financial Formulas now owns 805 shares of the financial services provider's stock worth $51,000 after purchasing an additional 329 shares in the last quarter. Sterling Capital Management LLC increased its stake in Banner by 816.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock worth $72,000 after purchasing an additional 964 shares in the last quarter. Finally, KBC Group NV increased its stake in Banner by 20.1% during the 1st quarter. KBC Group NV now owns 1,989 shares of the financial services provider's stock worth $127,000 after purchasing an additional 333 shares in the last quarter. 87.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BANR has been the subject of a number of research reports. DA Davidson increased their target price on Banner from $67.00 to $72.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Wall Street Zen raised Banner from a "sell" rating to a "hold" rating in a research report on Friday, July 18th. Keefe, Bruyette & Woods reduced their price target on Banner from $75.00 to $73.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Stephens reaffirmed an "overweight" rating and set a $73.00 price target on shares of Banner in a research report on Monday, April 21st. Finally, Janney Montgomery Scott raised Banner from a "neutral" rating to a "buy" rating and set a $71.00 price target for the company in a research report on Monday, April 21st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Banner has an average rating of "Moderate Buy" and a consensus target price of $70.17.

Banner Trading Up 2.5%

NASDAQ BANR opened at $65.06 on Friday. The company has a market cap of $2.25 billion, a PE ratio of 12.39 and a beta of 0.89. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.40. Banner Corporation has a 12 month low of $51.14 and a 12 month high of $78.05. The stock has a 50 day moving average of $64.24 and a 200-day moving average of $64.76.

Banner (NASDAQ:BANR - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.32 by $0.03. The company had revenue of $162.98 million during the quarter, compared to the consensus estimate of $167.96 million. Banner had a return on equity of 10.06% and a net margin of 21.15%. On average, equities research analysts anticipate that Banner Corporation will post 5.23 EPS for the current fiscal year.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.95%. The ex-dividend date is Tuesday, August 5th. Banner's payout ratio is presently 36.57%.

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.

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