5,325 Shares in Banner Corporation $BANR Acquired by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC acquired a new stake in Banner Corporation, purchasing 5,325 shares valued at approximately $340,000 during the 1st quarter.
• Banner's recent earnings report showed a beat on earnings per share with $1.35, surpassing the consensus estimate of $1.32, despite revenue falling short of expectations at $162.98 million.
• The company announced a quarterly dividend of $0.48 per share, representing a 3.0% dividend yield, with a payout ratio of 36.57%.

Neuberger Berman Group LLC purchased a new position in Banner Corporation (NASDAQ:BANR - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,325 shares of the financial services provider's stock, valued at approximately $340,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Victory Capital Management Inc. boosted its position in shares of Banner by 20.3% during the first quarter. Victory Capital Management Inc. now owns 2,047,260 shares of the financial services provider's stock worth $130,554,000 after acquiring an additional 345,607 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Banner by 4.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,439,174 shares of the financial services provider's stock valued at $91,776,000 after purchasing an additional 59,653 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in Banner by 122.8% during the first quarter. Westwood Holdings Group Inc. now owns 1,142,987 shares of the financial services provider's stock valued at $72,888,000 after purchasing an additional 630,004 shares during the last quarter. Nuveen LLC purchased a new position in shares of Banner in the 1st quarter worth $40,078,000. Finally, Northern Trust Corp grew its stake in shares of Banner by 16.9% in the 4th quarter. Northern Trust Corp now owns 487,951 shares of the financial services provider's stock worth $32,580,000 after buying an additional 70,544 shares in the last quarter. Institutional investors own 87.33% of the company's stock.

Banner Trading Down 0.4%

BANR traded down $0.2750 during trading hours on Wednesday, reaching $64.0750. 32,985 shares of the company's stock traded hands, compared to its average volume of 220,804. The firm has a 50-day moving average price of $64.64 and a 200 day moving average price of $64.05. Banner Corporation has a 52-week low of $53.78 and a 52-week 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 firm has a market capitalization of $2.22 billion, a PE ratio of 12.20 and a beta of 0.93.

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

Banner Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Banner's dividend payout ratio (DPR) is currently 36.57%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Wall Street Zen cut shares of Banner from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. DA Davidson lifted their price objective 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. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average 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.