Trexquant Investment LP Decreases Stake in Banner Corporation $BANR

Key Points

• Trexquant Investment LP has reduced its stake in Banner Corporation by 40.5%, now holding approximately 0.07% of the company valued at $1.5 million.
• Wall Street analysts have mixed reviews on Banner Corporation, with a target price increase from $67.00 to $72.00 but a downgrade from "hold" to "sell" by some analysts.
• Banner recently announced a quarterly dividend of $0.48, representing a 2.8% dividend yield with a payout ratio of 36.57%.

Trexquant Investment LP lessened its stake in shares of Banner Corporation (NASDAQ:BANR - Free Report) by 40.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,801 shares of the financial services provider's stock after selling 16,230 shares during the quarter. Trexquant Investment LP owned approximately 0.07% of Banner worth $1,518,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC purchased a new stake in Banner during the 1st quarter worth about $34,000. GAMMA Investing LLC grew its holdings in Banner by 53.9% in the 1st 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 during the period. USA Financial Formulas grew its holdings in Banner by 69.1% in 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 during the period. US Bancorp DE grew 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 valued at $126,000 after buying an additional 229 shares during the period. Finally, KBC Group NV grew 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 valued at $127,000 after buying an additional 333 shares during the period. Hedge funds and other institutional investors own 87.33% of the company's stock.

Banner Trading Up 1.0%

Shares of NASDAQ:BANR traded up $0.69 during trading on Thursday, reaching $67.30. 189,359 shares of the stock were exchanged, compared to its average volume of 133,205. 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 12-month low of $54.01 and a 12-month high of $78.05. The firm has a market cap of $2.33 billion, a price-to-earnings ratio of 12.82 and a beta of 0.95. The firm's 50-day moving average price is $65.77 and its 200 day moving average price is $63.81.

Banner (NASDAQ:BANR - Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $167.96 million. On average, sell-side analysts anticipate that Banner Corporation will post 5.23 earnings per share for the current fiscal year.

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a dividend of $0.48 per share. The ex-dividend date was Tuesday, August 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.9%. Banner's payout ratio is presently 36.57%.

Analyst Ratings Changes

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