Banner Corporation $BANR Stock: William Blair Investment Management LLC Increases Position

Key Points

• William Blair Investment Management increased its Banner stake by 187.4% in the third quarter, adding 680,451 shares to own about 1.04 million shares, or 2.86% of the company. Institutional investors and hedge funds collectively own 87.33% of Banner.
• Banner reported quarterly earnings of $1.51 per share, beating the $1.41 consensus estimate, while revenue of $179.07 million fell short of expectations. The company declared a quarterly dividend of $0.52 per share, equivalent to a 3.0% annualized yield.
• Analysts’ average rating on Banner is Hold, with an average price target of $75.75. Shares recently traded at $69.29.

William Blair Investment Management LLC lifted its stake in shares of Banner Corporation (NASDAQ:BANR - Free Report) by 187.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,043,648 shares of the financial services provider's stock after buying an additional 680,451 shares during the quarter. William Blair Investment Management LLC owned 2.86% of Banner worth $69,924,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BANR. Dimensional Fund Advisors LP boosted its holdings in Banner by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,177,070 shares of the financial services provider's stock worth $132,104,000 after acquiring an additional 18,077 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Banner during the second quarter valued at approximately $20,508,000. Principal Financial Group Inc. lifted its position in shares of Banner by 4.9% during the first quarter. Principal Financial Group Inc. now owns 216,221 shares of the financial services provider's stock worth $13,120,000 after purchasing an additional 10,146 shares in the last quarter. North Reef Capital Management LP acquired a new position in shares of Banner during the first quarter worth $11,860,000. Finally, Bank of America Corp DE boosted its stake in shares of Banner by 25.4% in the first quarter. Bank of America Corp DE now owns 171,439 shares of the financial services provider's stock valued at $10,403,000 after purchasing an additional 34,679 shares during the period. 87.33% of the stock is owned by institutional investors and hedge funds.

Banner Stock Up 0.2%

Shares of BANR traded up $0.15 during trading on Friday, reaching $69.29. The company's stock had a trading volume of 179,114 shares, compared to its average volume of 269,042. The company has a fifty day moving average of $69.08 and a two-hundred day moving average of $66.42. Banner Corporation has a twelve month low of $57.05 and a twelve month high of $74.84. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 11.78 and a beta of 0.83. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.09.

Banner (NASDAQ:BANR - Get Free Report) last released its earnings results on Wednesday, October 21st. The financial services provider reported $1.51 EPS for the quarter, beating the consensus estimate of $1.41 by $0.10. Banner had a return on equity of 10.44% and a net margin of 22.81%. The company had revenue of $179.07 million during the quarter, compared to analysts' expectations of $184.24 million. On average, sell-side analysts predict that Banner Corporation will post 6.13 EPS for the current fiscal year.

Banner Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 13th. Investors of record on Thursday, November 5th were issued a $0.52 dividend. The ex-dividend date of this dividend was Thursday, November 5th. This represents a $2.08 annualized dividend and a yield of 3.0%. Banner's dividend payout ratio is currently 35.37%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on BANR shares. Stephens raised their price target on shares of Banner from $77.00 to $78.00 and gave the company an "overweight" rating in a report on Monday, October 26th. Piper Sandler dropped their price target on shares of Banner from $74.00 to $71.00 and set a "neutral" rating on the stock in a research note on Thursday, October 1st. Keefe, Bruyette & Woods boosted their price objective on shares of Banner from $75.00 to $78.00 and gave the stock a "market perform" rating in a report on Monday, July 27th. Wall Street Zen cut shares of Banner from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Finally, DA Davidson upped their price objective on shares of Banner from $74.00 to $76.00 and gave the company a "neutral" rating in a research report on Friday, October 23rd. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $75.75.

About Banner

Banner Corporation is a bank holding company and the parent of Banner Bank, a community bank serving individuals, businesses and organizations in the western United States. The company traces its roots to the First National Bank of Walla Walla, established in Washington in 1890. Through Banner Bank, the company offers deposit accounts, business and consumer lending, residential mortgage services, and commercial banking solutions. Its services also include treasury management and wealth management.

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