Public Sector Pension Investment Board Increases Stock Position in Banner Corporation $BANR

Public Sector Pension Investment Board boosted its position in Banner Corporation (NASDAQ:BANR) by 14.5% during the third quarter, Holdings Channel.com reports. The fund owned 134,925 shares of the financial services provider’s stock after acquiring an additional 17,067 shares during the period. Public Sector Pension Investment Board’s holdings in Banner were worth $8,838,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BANR. Harbor Capital Advisors Inc. boosted its holdings in shares of Banner by 1.3% during the third quarter. Harbor Capital Advisors Inc. now owns 13,291 shares of the financial services provider’s stock worth $871,000 after purchasing an additional 171 shares during the period. Arizona State Retirement System raised its position in Banner by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 10,240 shares of the financial services provider’s stock valued at $671,000 after purchasing an additional 177 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Banner by 19.4% in the 3rd quarter. GAMMA Investing LLC now owns 1,137 shares of the financial services provider’s stock worth $74,000 after buying an additional 185 shares during the period. F m Investments LLC grew its position in shares of Banner by 0.3% in the 2nd quarter. F m Investments LLC now owns 83,512 shares of the financial services provider’s stock worth $5,357,000 after buying an additional 277 shares during the last quarter. Finally, ZWJ Investment Counsel Inc. increased its position in Banner by 8.5% during the 3rd quarter. ZWJ Investment Counsel Inc. now owns 3,592 shares of the financial services provider’s stock valued at $235,000 after purchasing an additional 281 shares during the period. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Piper Sandler reiterated a “neutral” rating and set a $70.00 target price on shares of Banner in a report on Monday, December 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Banner in a report on Wednesday, January 21st. Finally, Wall Street Zen cut shares of Banner from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $71.17.

Banner Stock Up 0.5%

BANR stock opened at $64.20 on Tuesday. The business has a 50 day moving average of $64.37 and a 200 day moving average of $64.03. The firm has a market cap of $2.19 billion, a PE ratio of 11.38 and a beta of 0.90. Banner Corporation has a twelve month low of $54.01 and a twelve month high of $70.06. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, January 21st. The financial services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.46 by $0.09. Banner had a return on equity of 10.46% and a net margin of 22.26%.The business had revenue of $169.90 million for the quarter, compared to the consensus estimate of $173.23 million. On average, research analysts forecast that Banner Corporation will post 5.23 EPS for the current fiscal year.

Banner Dividend Announcement

The company also recently disclosed 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 3.1%. The ex-dividend date of this dividend was Tuesday, February 3rd. Banner’s dividend payout ratio is 35.46%.

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.