Bank of America Corp DE lifted its stake in shares of Banner Corporation (NASDAQ:BANR - Free Report) by 25.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 171,439 shares of the financial services provider's stock after buying an additional 34,679 shares during the quarter. Bank of America Corp DE owned about 0.50% of Banner worth $10,403,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Kemnay Advisory Services Inc. acquired a new stake in Banner during the 4th quarter worth $31,000. Financial Life Planners acquired a new position in Banner in the first quarter valued at $30,000. Aquatic Capital Management LLC purchased a new position in shares of Banner during the third quarter worth about $36,000. EverSource Wealth Advisors LLC purchased a new position in shares of Banner during the second quarter worth about $45,000. Finally, KBC Group NV increased its position in shares of Banner by 55.0% during the first quarter. KBC Group NV now owns 1,528 shares of the financial services provider's stock worth $93,000 after purchasing an additional 542 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company's stock.
Banner Stock Performance
Shares of Banner stock opened at $71.14 on Monday. The firm has a market cap of $2.42 billion, a price-to-earnings ratio of 11.74 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's 50-day simple moving average is $69.30 and its 200-day simple moving average is $65.30. 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 announced its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.44 EPS for the quarter, missing analysts' consensus estimates of $1.46 by ($0.02). Banner had a net margin of 23.55% and a return on equity of 10.72%. The firm had revenue of $172.11 million during the quarter, compared to analyst estimates of $174.54 million. As a group, equities research analysts anticipate that Banner Corporation will post 6.2 earnings per share for the current year.
Banner Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, August 4th. Banner's dividend payout ratio (DPR) is currently 34.32%.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the company. Benchmark initiated coverage on Banner in a report on Wednesday, July 8th. They issued a "hold" rating for the company. Weiss Ratings raised Banner from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, June 18th. Wall Street Zen cut Banner from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. DA Davidson increased their price objective on Banner from $72.00 to $76.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Banner from $75.00 to $78.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $72.75.
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Banner Company Profile
(
Free Report)
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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