Public Employees Retirement System of Ohio Has $31,000 Stake in Banner Corporation $BANR

Public Employees Retirement System of Ohio reduced its stake in Banner Corporation (NASDAQ:BANR) by 98.8% during the 1st quarter, HoldingsChannel reports. The fund owned 519 shares of the financial services provider’s stock after selling 41,627 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Banner were worth $31,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada increased its holdings in Banner by 1.0% during the 4th quarter. Royal Bank of Canada now owns 17,519 shares of the financial services provider’s stock worth $1,097,000 after purchasing an additional 167 shares in the last quarter. First Trust Advisors LP lifted its holdings in shares of Banner by 0.4% in the third quarter. First Trust Advisors LP now owns 41,634 shares of the financial services provider’s stock valued at $2,727,000 after purchasing an additional 175 shares in the last quarter. US Bancorp DE boosted its position in shares of Banner by 8.9% during the third quarter. US Bancorp DE now owns 2,154 shares of the financial services provider’s stock worth $141,000 after buying an additional 176 shares during the period. ProShare Advisors LLC boosted its position in shares of Banner by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 6,628 shares of the financial services provider’s stock worth $415,000 after buying an additional 197 shares during the period. Finally, CWM LLC grew its holdings in shares of Banner by 12.9% during the fourth quarter. CWM LLC now owns 1,828 shares of the financial services provider’s stock worth $115,000 after buying an additional 209 shares in the last quarter. 87.33% of the stock is owned by institutional investors and hedge funds.

Banner Stock Performance

BANR opened at $70.49 on Friday. Banner Corporation has a 52-week low of $57.05 and a 52-week high of $72.65. The firm has a market capitalization of $2.40 billion, a PE ratio of 11.63 and a beta of 0.83. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88. The business’s 50-day simple moving average is $67.68 and its 200 day simple moving average is $64.57.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.02). The company had revenue of $172.11 million for the quarter, compared to analyst estimates of $174.54 million. Banner had a net margin of 23.55% and a return on equity of 10.72%. As a group, sell-side analysts expect that Banner Corporation will post 6.2 earnings per share for the current fiscal year.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th will be paid a dividend of $0.52 per share. The ex-dividend date is Tuesday, August 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.0%. Banner’s dividend payout ratio is currently 34.32%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BANR. Benchmark initiated coverage on Banner in a research report on Wednesday, July 8th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods upped their price target on Banner from $75.00 to $78.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Wall Street Zen cut shares of Banner from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Piper Sandler lifted their price objective on shares of Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, April 27th. Finally, DA Davidson boosted their price objective on shares of Banner from $72.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Banner presently has a consensus rating of “Hold” and a consensus target price of $72.75.

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.