Vanguard Group Inc. Acquires 44,249 Shares of Banner Corporation $BANR

Key Points

• Vanguard Group increased its stake in Banner Corporation by 1.2% in the fourth quarter, buying 44,249 additional shares and bringing its total holding to 3,837,199 shares, worth about $240.4 million.
• Banner reported strong quarterly earnings, posting EPS of $1.59 versus analyst expectations of $1.38, even as revenue came in slightly below estimates.
• The company raised its quarterly dividend to $0.52 per share from $0.50, implying an annualized yield of 3.2% and a payout ratio of 35.02%.

Vanguard Group Inc. lifted its position in Banner Corporation (NASDAQ:BANR - Free Report) by 1.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,837,199 shares of the financial services provider's stock after purchasing an additional 44,249 shares during the quarter. Vanguard Group Inc. owned 11.26% of Banner worth $240,439,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. CWM LLC boosted its holdings in shares of Banner by 12.9% in the 4th quarter. CWM LLC now owns 1,828 shares of the financial services provider's stock worth $115,000 after purchasing an additional 209 shares in the last quarter. Deprince Race & Zollo Inc. boosted its holdings in shares of Banner by 93.8% in the 4th quarter. Deprince Race & Zollo Inc. now owns 488,295 shares of the financial services provider's stock worth $30,597,000 after purchasing an additional 236,394 shares in the last quarter. Sovran Advisors LLC purchased a new position in shares of Banner in the 4th quarter worth about $1,147,000. Harbor Capital Advisors Inc. boosted its holdings in shares of Banner by 7.2% in the 4th quarter. Harbor Capital Advisors Inc. now owns 14,242 shares of the financial services provider's stock worth $892,000 after purchasing an additional 951 shares in the last quarter. Finally, Lodestone Wealth Management LLC purchased a new stake in Banner during the 4th quarter valued at about $66,000. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Wall Street Zen upgraded Banner from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. DA Davidson restated a "neutral" rating and set a $72.00 target price on shares of Banner in a report on Monday, May 4th. Piper Sandler increased their target price on Banner from $63.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, April 27th. Finally, Weiss Ratings upgraded Banner from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 9th. 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.com, the stock presently has a consensus rating of "Hold" and an average target price of $70.75.

Banner Trading Up 0.1%

Shares of BANR stock opened at $65.67 on Friday. The business has a 50-day moving average of $62.11 and a 200 day moving average of $62.95. The stock has a market capitalization of $2.23 billion, a PE ratio of 11.06 and a beta of 0.85. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.85. Banner Corporation has a 1-year low of $57.05 and a 1-year high of $69.83.

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

Banner Increases Dividend

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

Banner Company Profile

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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