Banner Corporation (NASDAQ:BANR) Shares Acquired by Westwood Holdings Group Inc.

Key Points

• Westwood Holdings Group Inc. has increased its stake in Banner Corporation by 122.8%, owning approximately 3.31% of the company, valued at $72.9 million as of the latest reporting period.
• Banner Corporation reported a quarterly earnings per share of $1.35, exceeding the consensus estimate of $1.32, though revenue of $162.98 million fell short of expectations.
• The company declared a quarterly dividend of $0.48 per share, with a yield of 3.0%, reflecting a payout ratio of 36.57%.

Westwood Holdings Group Inc. raised its position in Banner Corporation (NASDAQ:BANR - Free Report) by 122.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,142,987 shares of the financial services provider's stock after purchasing an additional 630,004 shares during the period. Westwood Holdings Group Inc. owned 3.31% of Banner worth $72,888,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BANR. Opal Wealth Advisors LLC bought a new stake in Banner during the 1st quarter valued at $34,000. GAMMA Investing LLC boosted its position in Banner by 53.9% during the first quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock worth $48,000 after purchasing an additional 264 shares during the period. USA Financial Formulas boosted its position in Banner by 69.1% during the first quarter. USA Financial Formulas now owns 805 shares of the financial services provider's stock worth $51,000 after purchasing an additional 329 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of Banner by 816.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock worth $72,000 after buying an additional 964 shares in the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Banner by 13.1% in the first quarter. US Bancorp DE now owns 1,978 shares of the financial services provider's stock worth $126,000 after buying an additional 229 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company's stock.

Banner Trading Up 1.0%

BANR traded up $0.60 during trading on Friday, reaching $62.51. The company had a trading volume of 158,617 shares, compared to its average volume of 253,625. The stock has a market cap of $2.16 billion, a P/E ratio of 11.91 and a beta of 0.93. The business has a 50 day simple moving average of $64.30 and a 200-day simple moving average of $64.39. Banner Corporation has a 52 week low of $52.86 and a 52 week high of $78.05. 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 (NASDAQ:BANR - Get Free Report) last released 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 business had revenue of $162.98 million for the quarter, compared to analyst estimates of $167.96 million. Banner had a return on equity of 10.06% and a net margin of 21.15%. On average, equities analysts anticipate that Banner Corporation will post 5.23 EPS for the current fiscal year.

Banner Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.1%. The ex-dividend date is Tuesday, August 5th. Banner's payout ratio is 36.57%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BANR shares. Raymond James Financial reaffirmed an "outperform" rating and issued a $65.00 target price (down from $77.00) on shares of Banner in a research note on Monday, April 21st. Keefe, Bruyette & Woods decreased their target price on shares of Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Janney Montgomery Scott upgraded shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 price target on the stock in a report on Monday, April 21st. Stephens restated an "overweight" rating and set a $73.00 target price on shares of Banner in a report on Monday, April 21st. Finally, Wall Street Zen lowered Banner from a "hold" rating to a "sell" rating in a research report on Saturday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Banner presently has a consensus rating of "Hold" and an average price target 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.