Banner Corporation (NASDAQ:BANR) Holdings Boosted by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its position in shares of Banner Corporation (NASDAQ:BANR - Free Report) by 141.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,071 shares of the financial services provider's stock after purchasing an additional 17,030 shares during the period. Envestnet Asset Management Inc. owned 0.08% of Banner worth $1,854,000 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. Opal Wealth Advisors LLC acquired a new stake in Banner in the first quarter valued at about $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 valued at $48,000 after buying an additional 264 shares during the period. USA Financial Formulas lifted its holdings in shares of 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 buying an additional 329 shares during the period. Sterling Capital Management LLC grew its holdings in Banner by 816.9% during the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock worth $72,000 after acquiring an additional 964 shares during the period. Finally, KBC Group NV raised its position in Banner by 20.1% in the first quarter. KBC Group NV now owns 1,989 shares of the financial services provider's stock worth $127,000 after acquiring an additional 333 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Banner Stock Performance

Shares of BANR traded down $1.00 during mid-day trading on Friday, hitting $61.08. The stock had a trading volume of 218,165 shares, compared to its average volume of 235,216. The company has a market cap of $2.11 billion, a PE ratio of 11.63 and a beta of 0.93. Banner Corporation has a fifty-two week low of $51.14 and a fifty-two week high of $78.05. The company's fifty day simple moving average is $64.23 and its two-hundred day simple moving average is $64.61. 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 quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $167.96 million. On average, equities analysts expect that Banner Corporation will post 5.23 earnings per share for the current year.

Banner Dividend Announcement

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Janney Montgomery Scott upgraded 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. Keefe, Bruyette & Woods decreased their price objective on Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. DA Davidson increased 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, July 18th. Stephens reaffirmed an "overweight" rating and set a $73.00 price target on shares of Banner in a research report on Monday, April 21st. Finally, Wall Street Zen upgraded shares of Banner from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Banner currently has an average rating of "Moderate Buy" and a consensus target price of $70.17.

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.