Edgestream Partners L.P. Makes New Investment in Banner Corporation (NASDAQ:BANR)

Edgestream Partners L.P. acquired a new position in shares of Banner Corporation (NASDAQ:BANR - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 32,084 shares of the financial services provider's stock, valued at approximately $2,046,000. Edgestream Partners L.P. owned approximately 0.09% of Banner at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BANR. Raymond James Financial Inc. purchased a new position in Banner in the fourth quarter valued at about $10,023,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Banner during the fourth quarter valued at approximately $274,000. Swiss National Bank grew its position in shares of Banner by 0.7% in the 4th quarter. Swiss National Bank now owns 67,700 shares of the financial services provider's stock worth $4,520,000 after buying an additional 500 shares during the last quarter. Natixis Advisors LLC lifted its stake in shares of Banner by 9.7% in the 4th quarter. Natixis Advisors LLC now owns 11,474 shares of the financial services provider's stock valued at $766,000 after purchasing an additional 1,013 shares during the period. Finally, Cibc World Markets Corp purchased a new stake in shares of Banner in the fourth quarter valued at about $214,000. Institutional investors own 87.33% of the company's stock.

Banner Trading Down 0.2%

BANR stock traded down $0.16 during midday trading on Monday, reaching $65.93. The company's stock had a trading volume of 151,374 shares, compared to its average volume of 217,683. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 12.54 and a beta of 0.89. Banner Corporation has a 1 year low of $51.14 and a 1 year high of $78.05. The stock has a fifty day simple moving average of $64.24 and a two-hundred day simple moving average of $64.81. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.88 and a current ratio of 0.88.

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

Banner Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Tuesday, August 5th. Banner's dividend payout ratio is currently 36.57%.

Analyst Ratings Changes

A number of research analysts have issued reports on the company. Wall Street Zen raised Banner from a "sell" rating to a "hold" rating in a report on Friday. DA Davidson boosted their price objective on Banner from $67.00 to $72.00 and gave the company a "neutral" rating in a research note on Friday. Stephens reaffirmed an "overweight" rating and set a $73.00 price objective on shares of Banner in a research report on Monday, April 21st. Janney Montgomery Scott raised shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 price target for the company in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Banner from $75.00 to $73.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus 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.