Vanguard Group Inc. Sells 23,300 Shares of Banner Corporation $BANR

Vanguard Group Inc. reduced its holdings in shares of Banner Corporation (NASDAQ:BANR) by 0.6% in the third quarter, HoldingsChannel.com reports. The fund owned 3,792,950 shares of the financial services provider’s stock after selling 23,300 shares during the quarter. Vanguard Group Inc. owned 0.11% of Banner worth $248,438,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of BANR. Westwood Holdings Group Inc. increased its stake in Banner by 3.2% in the second quarter. Westwood Holdings Group Inc. now owns 1,179,927 shares of the financial services provider’s stock valued at $75,692,000 after purchasing an additional 36,940 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in shares of Banner by 19.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,347 shares of the financial services provider’s stock worth $64,878,000 after acquiring an additional 165,557 shares in the last quarter. Geode Capital Management LLC grew its position in Banner by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 866,906 shares of the financial services provider’s stock worth $55,619,000 after purchasing an additional 3,921 shares in the last quarter. Basswood Capital Management L.L.C. lifted its holdings in Banner by 29.9% during the second quarter. Basswood Capital Management L.L.C. now owns 351,638 shares of the financial services provider’s stock worth $22,558,000 after acquiring an additional 80,877 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Banner by 20.7% during the 2nd quarter. Invesco Ltd. now owns 300,882 shares of the financial services provider’s stock worth $19,302,000 after purchasing an additional 51,584 shares during the period. Institutional investors and hedge funds own 87.33% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on BANR shares. Piper Sandler reissued a “neutral” rating and set a $70.00 price objective on shares of Banner in a report on Monday, December 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Banner in a report on Wednesday, January 21st. Finally, Wall Street Zen raised Banner from a “sell” rating to a “hold” rating in a report on Saturday. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $71.17.

Banner Stock Performance

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

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

Banner Dividend Announcement

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

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.