Edgestream Partners L.P. Invests $2.05 Million in Banner Corporation (NASDAQ:BANR)

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

Several other large investors also recently modified their holdings of the company. Opal Wealth Advisors LLC bought a new position in Banner in the first quarter worth approximately $34,000. GAMMA Investing LLC lifted its holdings in shares of Banner by 53.9% in the 1st quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock worth $48,000 after purchasing an additional 264 shares in the last quarter. USA Financial Formulas grew its position in Banner by 69.1% in the 1st quarter. USA Financial Formulas now owns 805 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 329 shares during the period. Sterling Capital Management LLC increased its stake in Banner by 816.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 964 shares in the last quarter. Finally, KBC Group NV increased its stake in Banner by 20.1% during the 1st quarter. KBC Group NV now owns 1,989 shares of the financial services provider's stock valued at $127,000 after purchasing an additional 333 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on BANR shares. Janney Montgomery Scott upgraded Banner from a "neutral" rating to a "buy" rating and set a $71.00 price objective for the company in a research note on Monday, April 21st. Raymond James Financial reiterated 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. DA Davidson raised their price target on shares of Banner from $67.00 to $72.00 and gave the stock a "neutral" rating in a research note on Friday. Stephens reiterated an "overweight" rating and issued a $73.00 price objective on shares of Banner in a research note on Monday, April 21st. Finally, Keefe, Bruyette & Woods decreased their target price on 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 investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $70.17.

Banner Price Performance

Shares of NASDAQ:BANR traded down $1.12 on Friday, hitting $66.09. The company's stock had a trading volume of 222,898 shares, compared to its average volume of 217,946. The company has a market capitalization of $2.29 billion, a PE ratio of 12.59 and a beta of 0.89. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.88 and a quick ratio of 0.85. The company has a 50-day simple moving average of $64.24 and a 200 day simple moving average of $64.83. Banner Corporation has a 1 year low of $51.14 and a 1 year high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) last issued its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.32 by $0.03. Banner had a net margin of 21.15% and a return on equity of 10.06%. The business had revenue of $162.98 million for the quarter, compared to analysts' expectations of $167.96 million. Sell-side analysts forecast that Banner Corporation will post 5.23 EPS for the current fiscal year.

Banner Announces Dividend

The firm 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 dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.91%. The ex-dividend date of this dividend is Tuesday, August 5th. Banner's dividend payout ratio is 36.57%.

Banner 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.