Banner Corporation $BANR Stake Lessened by Vanguard Group Inc.

Vanguard Group Inc. lessened its position in shares of Banner Corporation (NASDAQ:BANR) by 0.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,792,950 shares of the financial services provider’s stock after selling 23,300 shares during the period. Vanguard Group Inc. owned about 10.97% of Banner worth $248,438,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. boosted its position in shares of Banner by 1.3% during the third quarter. Harbor Capital Advisors Inc. now owns 13,291 shares of the financial services provider’s stock worth $871,000 after buying an additional 171 shares during the period. Arizona State Retirement System grew its stake in Banner by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 10,240 shares of the financial services provider’s stock valued at $671,000 after acquiring an additional 177 shares in the last quarter. GAMMA Investing LLC boosted its position in Banner by 19.4% during the third quarter. GAMMA Investing LLC now owns 1,137 shares of the financial services provider’s stock valued at $74,000 after purchasing an additional 185 shares during the last quarter. F m Investments LLC increased its stake in shares of Banner by 0.3% during the 2nd quarter. F m Investments LLC now owns 83,512 shares of the financial services provider’s stock worth $5,357,000 after purchasing an additional 277 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. raised its stake in shares of Banner by 8.5% in the 3rd quarter. ZWJ Investment Counsel Inc. now owns 3,592 shares of the financial services provider’s stock valued at $235,000 after acquiring an additional 281 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors.

Banner Stock Performance

BANR opened at $58.85 on Friday. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 10.43 and a beta of 0.90. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. Banner Corporation has a 12-month low of $54.01 and a 12-month high of $69.83. The business has a 50 day moving average of $63.59 and a 200-day moving average of $63.99.

Banner (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.55 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.09. Banner had a return on equity of 10.46% and a net margin of 22.26%.The business had revenue of $169.90 million during the quarter, compared to analysts’ expectations of $173.23 million. On average, equities research analysts expect that Banner Corporation will post 5.23 earnings per share for the current year.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Tuesday, February 3rd were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, February 3rd. This represents a $2.00 annualized dividend and a yield of 3.4%. Banner’s dividend payout ratio is presently 35.46%.

Analyst Upgrades and Downgrades

BANR has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Banner in a research report on Wednesday, January 21st. Wall Street Zen upgraded Banner from a “sell” rating to a “hold” rating in a report on Saturday. Finally, Piper Sandler restated a “neutral” rating and set a $70.00 price objective on shares of Banner in a report on Monday, December 1st. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $71.17.

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.