Y Intercept Hong Kong Ltd Raises Position in Banner Corporation $BANR

Y Intercept Hong Kong Ltd increased its position in Banner Corporation (NASDAQ:BANR) by 54.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 54,839 shares of the financial services provider’s stock after purchasing an additional 19,254 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Banner were worth $3,328,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in Banner by 54.7% in the first quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider’s stock valued at $1,412,000 after purchasing an additional 7,828 shares during the last quarter. AQR Capital Management LLC boosted its stake in Banner by 19.6% during the 1st quarter. AQR Capital Management LLC now owns 29,714 shares of the financial services provider’s stock valued at $1,895,000 after acquiring an additional 4,877 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Banner by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,422 shares of the financial services provider’s stock worth $1,302,000 after acquiring an additional 891 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in Banner during the 1st quarter worth $248,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Banner by 5.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,471 shares of the financial services provider’s stock worth $7,427,000 after purchasing an additional 6,059 shares during the last quarter. 87.33% of the stock is owned by institutional investors and hedge funds.

Banner Stock Performance

Shares of NASDAQ:BANR traded up $0.32 during trading on Tuesday, hitting $67.92. 54,996 shares of the company traded hands, compared to its average volume of 283,604. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.10. The business’s fifty day moving average is $65.56 and its 200-day moving average is $63.74. The stock has a market capitalization of $2.31 billion, a price-to-earnings ratio of 11.45 and a beta of 0.83. Banner Corporation has a one year low of $57.05 and a one year high of $69.83.

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

Banner Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.1%. The ex-dividend date of this dividend was 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%.

Wall Street Analysts Forecast Growth

BANR has been the topic of several research analyst reports. DA Davidson reaffirmed a “neutral” rating and set a $72.00 price target on shares of Banner in a research report on Monday, May 4th. Weiss Ratings upgraded Banner from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Keefe, Bruyette & Woods increased their target price on Banner from $73.00 to $75.00 and gave the stock a “market perform” rating in a report on Monday, May 18th. Finally, Piper Sandler lifted their target price on Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $71.00.

Banner 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.