Banner Corporation $BANR Shares Sold by Squarepoint Ops LLC

Key Points

• Squarepoint Ops LLC cut its Banner Corporation holdings by 84.6% in the second quarter, selling 22,311 shares and retaining 4,058 shares worth approximately $270,000. Institutional investors and hedge funds collectively own 87.33% of the company.
• Banner reported quarterly EPS of $1.44, slightly below the $1.46 analyst consensus, while revenue of $172.11 million also missed expectations. The company declared a quarterly dividend of $0.52, equivalent to a 3.1% annualized yield.
• Analyst sentiment remains moderately positive, with a consensus rating of “Moderate Buy” and an average price target of $74.50 versus the stock’s reported price of $68.07.

Squarepoint Ops LLC lessened its holdings in Banner Corporation (NASDAQ:BANR - Free Report) by 84.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,058 shares of the financial services provider's stock after selling 22,311 shares during the quarter. Squarepoint Ops LLC's holdings in Banner were worth $270,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Allworth Financial LP boosted its holdings in Banner by 342.4% in the second quarter. Allworth Financial LP now owns 845 shares of the financial services provider's stock valued at $56,000 after purchasing an additional 654 shares in the last quarter. Nykredit A S acquired a new stake in Banner during the second quarter worth approximately $28,000. Corient Private Wealth LP purchased a new stake in shares of Banner during the 2nd quarter worth approximately $232,000. iSAM Funds UK Ltd purchased a new stake in shares of Banner during the 2nd quarter worth approximately $213,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of Banner in the 2nd quarter valued at $36,000. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Banner Stock Down 1.2%

Shares of NASDAQ:BANR opened at $68.07 on Thursday. Banner Corporation has a 1-year low of $57.05 and a 1-year high of $74.84. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market cap of $2.31 billion, a P/E ratio of 11.23 and a beta of 0.82. The firm has a fifty day moving average price of $70.89 and a 200 day moving average price of $66.53.

Banner (NASDAQ:BANR - Get Free Report) last announced its earnings results 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 business had revenue of $172.11 million during the quarter, compared to analysts' expectations of $174.54 million. Sell-side analysts predict that Banner Corporation will post 6.19 EPS for the current year.

Banner Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Tuesday, August 4th were given a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, August 4th. Banner's payout ratio is 34.32%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BANR shares. Weiss Ratings reissued a "buy (b)" rating on shares of Banner in a research report on Monday, September 14th. Wall Street Zen lowered Banner from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. DA Davidson lifted their target price on Banner from $72.00 to $76.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Benchmark started coverage on Banner in a report on Wednesday, July 8th. They issued a "hold" rating for the company. Finally, Piper Sandler reissued an "overweight" rating and issued a $74.00 target price on shares of Banner in a research report on Monday, September 14th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $74.50.

Banner Company Profile

Banner Corporation NASDAQ: BANR is a bank holding company headquartered in Walla Walla, Washington. Through its principal subsidiary, Banner Bank, the company provides a range of banking and financial services to individuals, families, businesses and community organizations.

Banner Bank offers deposit products, residential and commercial real estate lending, construction and land development loans, commercial business financing, consumer loans and agricultural lending. Its services also include treasury management, online and mobile banking, cash management, wealth management and other financial solutions designed for business and personal customers.

The company serves communities primarily across the Pacific Northwest and other western markets through a network of branches and digital banking channels.

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