Emerald Acquisition Ltd. purchased a new stake in shares of Banner Corp. (NASDAQ:BANR) during the second quarter, Holdings Channel reports. The firm purchased 84,476 shares of the financial services provider’s stock, valued at approximately $3,594,000. Emerald Acquisition Ltd. owned 0.25% of Banner Corp. as of its most recent filing with the SEC.

Several other institutional investors have also recently modified their holdings of the stock. Kennedy Capital Management Inc. raised its position in Banner Corp. by 3.7% in the first quarter. Kennedy Capital Management Inc. now owns 450,450 shares of the financial services provider’s stock valued at $18,937,000 after buying an additional 16,278 shares during the last quarter. Renaissance Technologies LLC raised its position in Banner Corp. by 6.3% in the first quarter. Renaissance Technologies LLC now owns 445,499 shares of the financial services provider’s stock valued at $18,729,000 after buying an additional 26,600 shares during the last quarter. Monarch Partners Asset Management LLC raised its position in Banner Corp. by 126.5% in the second quarter. Monarch Partners Asset Management LLC now owns 359,050 shares of the financial services provider’s stock valued at $15,274,000 after buying an additional 200,530 shares during the last quarter. Bank of New York Mellon Corp raised its position in Banner Corp. by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 275,836 shares of the financial services provider’s stock valued at $11,734,000 after buying an additional 7,309 shares during the last quarter. Finally, Rothschild Asset Management Inc. raised its position in Banner Corp. by 3.7% in the second quarter. Rothschild Asset Management Inc. now owns 176,641 shares of the financial services provider’s stock valued at $7,514,000 after buying an additional 6,377 shares during the last quarter. 77.17% of the stock is currently owned by institutional investors and hedge funds.

Banner Corp. (NASDAQ:BANR) traded up 0.48% during midday trading on Thursday, hitting $44.27. The stock had a trading volume of 276,615 shares. The company’s 50 day moving average price is $43.25 and its 200-day moving average price is $42.64. Banner Corp. has a 52 week low of $35.39 and a 52 week high of $53.55. The stock has a market capitalization of $1.52 billion, a price-to-earnings ratio of 23.24 and a beta of 1.70.

Banner Corp. (NASDAQ:BANR) last issued its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.05. Banner Corp. had a net margin of 13.96% and a return on equity of 6.70%. Equities analysts anticipate that Banner Corp. will post $2.80 earnings per share for the current fiscal year.

Several research firms have weighed in on BANR. FBR & Co cut their target price on Banner Corp. from $50.00 to $48.00 and set a “market perform” rating on the stock in a research note on Friday, July 29th. Keefe, Bruyette & Woods cut their target price on Banner Corp. from $49.00 to $48.00 and set a “market perform” rating on the stock in a research note on Thursday, July 28th. Zacks Investment Research raised Banner Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 12th. Finally, DA Davidson reissued a “buy” rating and issued a $52.00 target price on shares of Banner Corp. in a research note on Tuesday, August 23rd. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $50.40.

About Banner Corp.

Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a regional bank that offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its market areas.

5 Day Chart for NASDAQ:BANR

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