Invesco Ltd. Increases Stock Position in Banner Corporation $BANR

Key Points

• Invesco Ltd. increased its holdings in Banner Corporation by 86.0% after acquiring 115,238 shares in the first quarter, totaling 249,298 shares worth approximately $15.9 million.
• Banner Corporation reported a quarterly EPS of $1.35, beating estimates by $0.03, but its revenue of $162.98 million fell short of the expected $167.96 million.
• The company declared a quarterly dividend of $0.48 per share, with a current dividend yield of 2.8% and a payout ratio of 36.57%.

Invesco Ltd. boosted its position in Banner Corporation (NASDAQ:BANR - Free Report) by 86.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 249,298 shares of the financial services provider's stock after acquiring an additional 115,238 shares during the quarter. Invesco Ltd. owned 0.72% of Banner worth $15,898,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BANR. Opal Wealth Advisors LLC acquired a new stake in Banner in the first quarter valued at approximately $34,000. GAMMA Investing LLC raised its holdings in Banner by 53.9% in the first quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 264 shares in the last quarter. USA Financial Formulas raised its holdings in Banner by 69.1% in the first quarter. USA Financial Formulas now owns 805 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 329 shares in the last quarter. US Bancorp DE raised its holdings in Banner by 13.1% in the first quarter. US Bancorp DE now owns 1,978 shares of the financial services provider's stock valued at $126,000 after acquiring an additional 229 shares in the last quarter. Finally, KBC Group NV raised its holdings in Banner by 20.1% in the first quarter. KBC Group NV now owns 1,989 shares of the financial services provider's stock valued at $127,000 after acquiring an additional 333 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company's stock.

Banner Stock Down 0.6%

Banner stock traded down $0.38 during mid-day trading on Thursday, hitting $67.26. The company had a trading volume of 132,744 shares, compared to its average volume of 200,128. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 12.81 and a beta of 0.93. Banner Corporation has a 1 year low of $53.78 and a 1 year 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. The business has a fifty day moving average of $65.29 and a 200 day moving average of $63.90.

Banner (NASDAQ:BANR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.32 by $0.03. The company 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%. On average, sell-side analysts expect that Banner Corporation will post 5.23 earnings per share for the current fiscal year.

Banner Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, August 5th. Banner's dividend payout ratio is currently 36.57%.

Analyst Upgrades and Downgrades

BANR has been the topic of several analyst reports. Wall Street Zen cut shares of Banner from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. DA Davidson raised their target price on shares of Banner from $67.00 to $72.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Banner has a consensus rating of "Moderate Buy" and an average target price of $70.17.

About Banner

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.