UBS Group AG Acquires 321,522 Shares of Banner Corporation $BANR

Key Points

• UBS Group AG significantly increased its stake in Banner Corporation, buying 321,522 additional shares in the fourth quarter and lifting its holdings by 241.2% to 454,807 shares worth about $28.5 million.
• Banner reported better-than-expected quarterly earnings of $1.59 per share, topping estimates by $0.21, while revenue came in slightly below expectations at $168.91 million.
• The company raised its quarterly dividend to $0.52 per share from $0.50, putting the annualized yield at about 3.2%; analysts currently have an average rating of Hold with a consensus price target of $70.75.

UBS Group AG increased its holdings in Banner Corporation (NASDAQ:BANR - Free Report) by 241.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 454,807 shares of the financial services provider's stock after buying an additional 321,522 shares during the period. UBS Group AG owned about 1.33% of Banner worth $28,498,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Banner by 1.2% in the fourth quarter. Vanguard Group Inc. now owns 3,837,199 shares of the financial services provider's stock worth $240,439,000 after buying an additional 44,249 shares in the last quarter. CWM LLC boosted its stake in Banner by 12.9% in the fourth quarter. CWM LLC now owns 1,828 shares of the financial services provider's stock valued at $115,000 after acquiring an additional 209 shares in the last quarter. Deprince Race & Zollo Inc. boosted its stake in Banner by 93.8% in the fourth quarter. Deprince Race & Zollo Inc. now owns 488,295 shares of the financial services provider's stock valued at $30,597,000 after acquiring an additional 236,394 shares in the last quarter. Sovran Advisors LLC acquired a new stake in Banner in the fourth quarter valued at approximately $1,147,000. Finally, Harbor Capital Advisors Inc. boosted its stake in Banner by 7.2% in the fourth quarter. Harbor Capital Advisors Inc. now owns 14,242 shares of the financial services provider's stock valued at $892,000 after acquiring an additional 951 shares in the last quarter. Institutional investors own 87.33% of the company's stock.

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Banner Trading Up 0.1%

NASDAQ BANR opened at $65.67 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. Banner Corporation has a 12-month low of $57.05 and a 12-month high of $69.83. The company has a fifty day simple moving average of $62.11 and a two-hundred day simple moving average of $62.95. The stock has a market cap of $2.23 billion, a P/E ratio of 11.06 and a beta of 0.85.

Banner (NASDAQ:BANR - Get Free Report) last released its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $1.59 EPS for the quarter, beating the consensus estimate of $1.38 by $0.21. Banner had a net margin of 23.24% and a return on equity of 10.77%. The business had revenue of $168.91 million for the quarter, compared to the consensus estimate of $169.60 million. On average, analysts forecast that Banner Corporation will post 6.12 earnings per share for the current year.

Banner Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 15th. Investors of record on Tuesday, May 5th will be issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. This is a boost from Banner's previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, May 5th. Banner's dividend payout ratio is 35.02%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Piper Sandler raised their target price on shares of Banner from $63.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, April 27th. Weiss Ratings upgraded shares of Banner from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, March 9th. Wall Street Zen upgraded shares of Banner from a "sell" rating to a "hold" rating in a research note on Saturday, February 28th. Finally, DA Davidson restated a "neutral" rating and issued a $72.00 target price on shares of Banner in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $70.75.

About Banner

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.

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