Nuveen LLC Invests $40.08 Million in Banner Corporation $BANR

Key Points

• Nuveen LLC has acquired a new stake in Banner Corporation, purchasing 628,475 shares valued at approximately $40.08 million, representing about 1.82% ownership.
• Banner Corporation recently announced a quarterly dividend of $0.48, yielding 3.0% annually, with a dividend payout ratio of 36.57%.
• Despite reporting earnings per share of $1.35, which beat estimates, Banner's stock price has declined by 2.7%, and analysts have mixed ratings on the stock with an average target price of $70.17.

Nuveen LLC purchased a new stake in shares of Banner Corporation (NASDAQ:BANR - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 628,475 shares of the financial services provider's stock, valued at approximately $40,078,000. Nuveen LLC owned 1.82% of Banner as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Opal Wealth Advisors LLC bought a new stake in Banner during the first quarter valued at approximately $34,000. GAMMA Investing LLC raised its stake in shares of 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 buying an additional 264 shares during the period. USA Financial Formulas lifted 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. Sterling Capital Management LLC grew its stake in shares of Banner by 816.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock valued at $72,000 after acquiring an additional 964 shares during the period. Finally, US Bancorp DE increased its holdings in Banner by 13.1% in the 1st quarter. US Bancorp DE now owns 1,978 shares of the financial services provider's stock worth $126,000 after acquiring an additional 229 shares in the last quarter. Institutional investors own 87.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research 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 increased their price target on Banner from $67.00 to $72.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $70.17.

Banner Price Performance

Shares of BANR stock traded down $0.0950 on Thursday, reaching $64.0650. The company's stock had a trading volume of 16,841 shares, compared to its average volume of 220,110. The stock's fifty day simple moving average is $64.68 and its 200-day simple moving average is $64.05. Banner Corporation has a 1 year low of $53.78 and a 1 year high of $78.05. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $2.22 billion, a price-to-earnings ratio of 12.20 and a beta of 0.93.

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

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.0%. The ex-dividend date was Tuesday, August 5th. Banner's dividend payout ratio is currently 36.57%.

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.