Hsbc Holdings PLC Decreases Stock Holdings in Banner Corporation $BANR

Key Points

• Hsbc Holdings PLC has reduced its stake in Banner Corporation by 42.9%, now holding 5,161 shares valued at $330,000 as of its latest SEC filing.
• Banner Corporation reported an EPS of $1.35 for the last quarter, surpassing the consensus estimate of $1.32, despite revenues falling short of projections.
• The company recently declared a quarterly dividend of $0.48, representing a 2.9% annual yield with a payout ratio of 36.57%.

Hsbc Holdings PLC trimmed its position in Banner Corporation (NASDAQ:BANR - Free Report) by 42.9% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,161 shares of the financial services provider's stock after selling 3,876 shares during the period. Hsbc Holdings PLC's holdings in Banner were worth $330,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. US Bancorp DE raised its position in shares of Banner by 13.1% during the 1st quarter. US Bancorp DE now owns 1,978 shares of the financial services provider's stock valued at $126,000 after buying an additional 229 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Banner by 5.0% during the 1st quarter. HighTower Advisors LLC now owns 4,808 shares of the financial services provider's stock valued at $307,000 after buying an additional 230 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Banner by 53.9% during 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 in the last quarter. USA Financial Formulas raised its position in shares of Banner by 69.1% during 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 in the last quarter. Finally, KBC Group NV raised its position in shares of 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 buying an additional 333 shares in the last quarter. 87.33% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Wall Street Zen cut shares of Banner from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. DA Davidson lifted their target price on shares of Banner from $67.00 to $72.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Banner has an average rating of "Moderate Buy" and an average price target of $70.17.

Banner Trading Down 0.6%

Banner stock traded down $0.41 during trading hours on Tuesday, reaching $67.24. The stock had a trading volume of 23,984 shares, compared to its average volume of 214,468. The company has a fifty day simple moving average of $65.82 and a 200-day simple moving average of $63.77. The stock has a market cap of $2.33 billion, a PE ratio of 12.79 and a beta of 0.95. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.88 and a quick ratio of 0.88. Banner Corporation has a 52 week low of $53.78 and a 52 week high of $78.05.

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 analysts' consensus estimates of $1.32 by $0.03. The firm had revenue of $162.98 million for the quarter, compared to analyst estimates of $167.96 million. Banner had a net margin of 21.15% and a return on equity of 10.06%. Analysts forecast that Banner Corporation will post 5.23 EPS for the current fiscal year.

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, August 5th. Banner's dividend payout ratio (DPR) is 36.57%.

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.