Focus Partners Wealth Acquires 44,597 Shares of Banner Corporation $BANR

Key Points

• Focus Partners Wealth has increased its stake in Banner Corporation (NASDAQ:BANR) by 173.9%, owning 70,242 shares valued at approximately $4.48 million.
• Banner recently reported earnings of $1.35 per share, outperforming the consensus estimate by $0.03, despite revenue of $162.98 million falling short of projections.
• The company declared a quarterly dividend of $0.48, yielding 2.9% annually, with an ex-dividend date of August 5th.

Focus Partners Wealth lifted its position in Banner Corporation (NASDAQ:BANR - Free Report) by 173.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 70,242 shares of the financial services provider's stock after acquiring an additional 44,597 shares during the quarter. Focus Partners Wealth owned approximately 0.20% of Banner worth $4,479,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in shares of Banner in the 1st quarter worth $34,000. GAMMA Investing LLC grew its stake in shares of Banner by 53.9% in the 1st quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock worth $48,000 after acquiring an additional 264 shares in the last quarter. USA Financial Formulas grew its stake in shares of Banner by 69.1% in the 1st quarter. USA Financial Formulas now owns 805 shares of the financial services provider's stock worth $51,000 after acquiring an additional 329 shares in the last quarter. Quarry LP grew its stake in shares of Banner by 4,612.0% in the 1st quarter. Quarry LP now owns 1,178 shares of the financial services provider's stock worth $75,000 after acquiring an additional 1,153 shares in the last quarter. Finally, US Bancorp DE grew its stake in shares of Banner by 13.1% in the 1st quarter. US Bancorp DE now owns 1,978 shares of the financial services provider's stock worth $126,000 after acquiring an additional 229 shares in the last quarter. Institutional investors own 87.33% of the company's stock.

Banner Stock Performance

BANR traded down $0.63 during trading on Friday, hitting $67.13. 599,405 shares of the company traded hands, compared to its average volume of 139,978. The firm has a market cap of $2.32 billion, a P/E ratio of 12.79 and a beta of 0.95. The stock's fifty day moving average is $65.48 and its 200 day moving average is $63.74. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.40. Banner Corporation has a one year low of $54.01 and a one year high of $78.05.

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

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date was Tuesday, August 5th. Banner's dividend payout ratio (DPR) is currently 36.57%.

Analyst Ratings Changes

Several analysts have recently issued reports on BANR shares. Wall Street Zen lowered shares of Banner from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. DA Davidson increased their price target on shares of Banner from $67.00 to $72.00 and gave the company a "neutral" rating in a research 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price 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.