Banner Corporation (NASDAQ:BANR) Sees Large Growth in Short Interest

Banner Corporation (NASDAQ:BANR) was the target of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 898,462 shares, an increase of 42.2% from the February 26th total of 631,728 shares. Based on an average daily volume of 349,895 shares, the days-to-cover ratio is currently 2.6 days. Currently, 2.7% of the shares of the stock are sold short.

Institutional Trading of Banner

Institutional investors have recently made changes to their positions in the stock. Kemnay Advisory Services Inc. purchased a new position in shares of Banner in the fourth quarter worth $31,000. Financial Life Planners bought a new stake in Banner in the 3rd quarter worth $32,000. Aquatic Capital Management LLC bought a new stake in Banner in the 3rd quarter worth $36,000. EverSource Wealth Advisors LLC purchased a new position in shares of Banner in the second quarter valued at about $45,000. Finally, Lodestone Wealth Management LLC bought a new position in shares of Banner during the fourth quarter valued at about $66,000. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Banner Price Performance

Shares of NASDAQ:BANR opened at $59.74 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The stock has a market cap of $2.04 billion, a PE ratio of 10.59 and a beta of 0.89. The company’s fifty day moving average is $61.72 and its 200 day moving average is $63.01. Banner has a 52 week low of $54.01 and a 52 week high of $69.83.

Banner (NASDAQ:BANR) last posted its quarterly 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. Banner had a net margin of 22.26% and a return on equity of 10.46%. The business had revenue of $169.90 million during the quarter, compared to analyst estimates of $173.23 million. Research analysts anticipate that Banner will post 5.23 earnings per share for the current year.

Banner Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Tuesday, February 3rd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.3%. The ex-dividend date was Tuesday, February 3rd. Banner’s dividend payout ratio (DPR) is presently 35.46%.

Wall Street Analysts Forecast Growth

BANR has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Banner from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Wall Street Zen upgraded shares of Banner from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Piper Sandler reissued a “neutral” rating and issued a $70.00 target price on shares of Banner in a research note on Monday, December 1st. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price 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.