Hsbc Holdings PLC Invests $897,000 in Banner Corporation $BANR

Hsbc Holdings PLC bought a new position in shares of Banner Corporation (NASDAQ:BANR) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,341 shares of the financial services provider’s stock, valued at approximately $897,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BANR. Vanguard Group Inc. boosted its stake in Banner by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,837,199 shares of the financial services provider’s stock worth $240,439,000 after purchasing an additional 44,249 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Banner by 0.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,158,993 shares of the financial services provider’s stock valued at $135,284,000 after buying an additional 5,552 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Banner by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,448,700 shares of the financial services provider’s stock valued at $90,776,000 after buying an additional 6,835 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Banner by 19.6% in the second quarter. The Manufacturers Life Insurance Company now owns 1,011,347 shares of the financial services provider’s stock worth $64,878,000 after buying an additional 165,557 shares in the last quarter. Finally, Nuveen LLC boosted its position in shares of Banner by 17.9% during the fourth quarter. Nuveen LLC now owns 749,083 shares of the financial services provider’s stock worth $46,938,000 after acquiring an additional 113,632 shares during the last quarter. Institutional investors own 87.33% of the company’s stock.

Banner Price Performance

Banner stock opened at $68.57 on Tuesday. The company has a market cap of $2.33 billion, a price-to-earnings ratio of 11.54 and a beta of 0.83. The firm’s fifty day moving average is $65.61 and its 200 day moving average is $63.77. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.10. Banner Corporation has a 52-week low of $57.05 and a 52-week high of $69.83.

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

Banner Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, May 5th. This is a positive change from Banner’s previous quarterly dividend of $0.50. Banner’s payout ratio is 35.02%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BANR shares. Piper Sandler raised their target price on shares of Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Benchmark began coverage on shares of Banner in a research note on Wednesday, July 8th. They issued a “hold” rating on the stock. DA Davidson reissued a “neutral” rating and set a $72.00 price objective on shares of Banner in a report on Monday, May 4th. Weiss Ratings raised shares of Banner from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Finally, 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 report on Monday, May 18th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $71.00.

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.