Bank of New York Mellon Corp Makes New Investment in Banner Corporation $BANR

Bank of New York Mellon Corp acquired a new stake in shares of Banner Corporation (NASDAQ:BANR - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 308,674 shares of the financial services provider's stock, valued at approximately $20,508,000. Bank of New York Mellon Corp owned approximately 0.91% of Banner as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in Banner by 54.7% during the 1st quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider's stock valued at $1,412,000 after purchasing an additional 7,828 shares in the last quarter. AQR Capital Management LLC increased its position in shares of Banner by 19.6% during the first quarter. AQR Capital Management LLC now owns 29,714 shares of the financial services provider's stock valued at $1,895,000 after acquiring an additional 4,877 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Banner by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,422 shares of the financial services provider's stock worth $1,302,000 after acquiring an additional 891 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Banner in the 1st quarter worth approximately $248,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Banner by 5.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,471 shares of the financial services provider's stock valued at $7,427,000 after acquiring an additional 6,059 shares in the last quarter. Hedge funds and other institutional investors own 87.33% of the company's stock.

Analyst Ratings Changes

BANR has been the subject of a number of recent analyst reports. Benchmark started coverage on Banner in a research report on Wednesday, July 8th. They issued a "hold" rating for the company. DA Davidson raised their price target on shares of Banner from $72.00 to $76.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of Banner from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, June 18th. Keefe, Bruyette & Woods increased their price objective on shares of Banner from $75.00 to $78.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. Finally, Wall Street Zen downgraded shares of Banner from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Banner has a consensus rating of "Hold" and an average price target of $72.75.

Banner Stock Performance

Shares of BANR opened at $70.50 on Monday. The business has a 50-day simple moving average of $69.81 and a two-hundred day simple moving average of $65.52. The stock has a market cap of $2.40 billion, a price-to-earnings ratio of 11.63 and a beta of 0.83. Banner Corporation has a 52 week low of $57.05 and a 52 week high of $74.84. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26.

Banner (NASDAQ:BANR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share for the quarter, missing analysts' consensus estimates of $1.46 by ($0.02). Banner had a return on equity of 10.72% and a net margin of 23.55%.The firm had revenue of $172.11 million during the quarter, compared to the consensus estimate of $174.54 million. On average, analysts expect that Banner Corporation will post 6.2 EPS for the current year.

Banner Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Tuesday, August 4th were paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.0%. The ex-dividend date was Tuesday, August 4th. Banner's dividend payout ratio is presently 34.32%.

Banner Profile

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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