Principal Financial Group Inc. increased its holdings in shares of Banner Corporation (NASDAQ:BANR - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 171,592 shares of the financial services provider's stock after acquiring an additional 4,503 shares during the period. Principal Financial Group Inc. owned about 0.50% of Banner worth $10,942,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in BANR. Opal Wealth Advisors LLC acquired a new position in Banner in the first quarter valued at about $34,000. GAMMA Investing LLC boosted its position 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 buying an additional 264 shares in the last quarter. USA Financial Formulas boosted its position 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 buying an additional 329 shares in the last quarter. Sterling Capital Management LLC boosted its position in Banner by 816.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock valued at $72,000 after buying an additional 964 shares in the last quarter. Finally, US Bancorp DE boosted its position in Banner by 21.8% in the fourth quarter. US Bancorp DE now owns 1,749 shares of the financial services provider's stock valued at $117,000 after buying an additional 313 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.
Banner Price Performance
Shares of NASDAQ BANR traded up $0.38 during trading on Thursday, reaching $67.21. The company had a trading volume of 459,430 shares, compared to its average volume of 218,317. Banner Corporation has a 52 week low of $51.14 and a 52 week high of $78.05. The stock has a market cap of $2.32 billion, a PE ratio of 12.80 and a beta of 0.89. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.85 and a current ratio of 0.86. The business's 50 day moving average price is $64.18 and its 200-day moving average price is $64.84.
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, topping analysts' consensus estimates of $1.32 by $0.03. The company had revenue of $162.98 million during 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 10.15%. Analysts expect that Banner Corporation will post 5.23 earnings per share for the current year.
Banner Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.86%. The ex-dividend date is Tuesday, August 5th. Banner's dividend payout ratio (DPR) is 37.72%.
Analyst Ratings Changes
A number of research firms have commented on BANR. Wall Street Zen lowered shares of Banner from a "hold" rating to a "sell" rating in a research report on Thursday, May 29th. Raymond James Financial restated an "outperform" rating and issued a $65.00 price target (down from $77.00) on shares of Banner in a research report on Monday, April 21st. Keefe, Bruyette & Woods reduced their price target on shares of Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Stephens reaffirmed an "overweight" rating and issued a $73.00 target price on shares of Banner in a research note on Monday, April 21st. Finally, Janney Montgomery Scott raised shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 target price for the company in a research note on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $70.83.
Check Out Our Latest Stock Report on BANR
Banner Company 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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