New York State Common Retirement Fund lessened its holdings in Banner Corporation (NASDAQ:BANR - Free Report) by 26.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,484 shares of the financial services provider's stock after selling 9,500 shares during the period. New York State Common Retirement Fund owned approximately 0.08% of Banner worth $1,689,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of BANR. Opal Wealth Advisors LLC bought a new position in Banner during the first quarter valued at $34,000. GAMMA Investing LLC lifted its stake in Banner by 53.9% in the first quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock worth $48,000 after acquiring an additional 264 shares during the period. USA Financial Formulas lifted its position in shares of Banner by 69.1% during the first 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 last quarter. Sterling Capital Management LLC raised its position in shares of Banner by 816.9% in 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 during the last quarter. Finally, KBC Group NV increased its holdings in Banner by 20.1% in the 1st quarter. KBC Group NV now owns 1,989 shares of the financial services provider's stock worth $127,000 after buying an additional 333 shares during the period. Institutional investors own 87.33% of the company's stock.
Banner Stock Up 2.5%
Shares of NASDAQ:BANR traded up $1.59 during mid-day trading on Friday, hitting $65.06. 378,575 shares of the company traded hands, compared to its average volume of 226,094. The firm has a market cap of $2.25 billion, a P/E ratio of 12.39 and a beta of 0.89. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.88 and a current ratio of 0.88. Banner Corporation has a 52-week low of $51.14 and a 52-week high of $78.05. The firm's 50 day simple moving average is $64.24 and its 200 day simple moving average is $64.76.
Banner (NASDAQ:BANR - Get Free Report) last announced its 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. Banner had a return on equity of 10.06% and a net margin of 21.15%. The business had revenue of $162.98 million for the quarter, compared to the consensus estimate of $167.96 million. On average, equities analysts anticipate that Banner Corporation will post 5.23 EPS for the current year.
Banner Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.92 annualized dividend and a yield of 2.95%. Banner's dividend payout ratio is presently 36.57%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the company. Janney Montgomery Scott upgraded Banner from a "neutral" rating to a "buy" rating and set a $71.00 price objective on the stock in a report on Monday, April 21st. DA Davidson boosted their price objective on Banner from $67.00 to $72.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Wall Street Zen raised Banner from a "sell" rating to a "hold" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods reduced their price objective on Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Finally, Stephens reiterated an "overweight" rating and set a $73.00 target price on shares of Banner in a report on Monday, April 21st. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $70.17.
View Our Latest Stock Analysis on BANR
Banner Profile
(
Free Report)
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.
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