SG Americas Securities LLC Purchases 25,903 Shares of Banner Corporation $BANR

SG Americas Securities LLC grew its position in Banner Corporation (NASDAQ:BANR) by 114.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,508 shares of the financial services provider’s stock after buying an additional 25,903 shares during the quarter. SG Americas Securities LLC’s holdings in Banner were worth $2,943,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in BANR. Diversified Trust Co boosted its position in shares of Banner by 12.4% during the 1st quarter. Diversified Trust Co now owns 14,300 shares of the financial services provider’s stock worth $868,000 after acquiring an additional 1,574 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Banner during the fourth quarter worth $897,000. State of Tennessee Department of Treasury lifted its stake in Banner by 265.5% during the fourth quarter. State of Tennessee Department of Treasury now owns 30,827 shares of the financial services provider’s stock worth $1,906,000 after purchasing an additional 22,392 shares during the last quarter. Empowered Funds LLC boosted its holdings in shares of Banner by 24.0% in the 4th quarter. Empowered Funds LLC now owns 144,226 shares of the financial services provider’s stock valued at $9,037,000 after purchasing an additional 27,899 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new stake in shares of Banner in the 4th quarter valued at $614,000. Institutional investors own 87.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BANR. DA Davidson reissued a “neutral” rating and set a $72.00 price target on shares of Banner in a report on Monday, May 4th. Keefe, Bruyette & Woods raised their price objective on Banner from $73.00 to $75.00 and gave the company a “market perform” rating in a research note on Monday, May 18th. Weiss Ratings upgraded Banner from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Finally, Piper Sandler boosted their target price on Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $71.00.

Banner Trading Up 0.2%

NASDAQ BANR opened at $66.44 on Wednesday. The company has a market cap of $2.26 billion, a price-to-earnings ratio of 11.19 and a beta of 0.83. Banner Corporation has a twelve month low of $57.05 and a twelve month high of $69.83. 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 $65.37 and its 200 day moving average is $63.72.

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

Banner Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were given a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $2.08 annualized dividend and a yield of 3.1%. This is an increase from Banner’s previous quarterly dividend of $0.50. Banner’s dividend payout ratio is 35.02%.

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.