Banner Corporation $BANR Stock Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC increased its position in Banner Corporation (NASDAQ:BANR) by 187.4% in the third quarter, Holdings Channel reports. The firm owned 1,043,648 shares of the financial services provider’s stock after purchasing an additional 680,451 shares during the quarter. William Blair Investment Management LLC’s holdings in Banner were worth $69,924,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BANR. Dimensional Fund Advisors LP raised its stake in Banner by 0.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,177,070 shares of the financial services provider’s stock valued at $132,104,000 after buying an additional 18,077 shares in the last quarter. Bank of New York Mellon Corp bought a new position in Banner during the 2nd quarter worth approximately $20,508,000. Principal Financial Group Inc. grew its position in shares of Banner by 4.9% in the 1st quarter. Principal Financial Group Inc. now owns 216,221 shares of the financial services provider’s stock worth $13,120,000 after acquiring an additional 10,146 shares in the last quarter. North Reef Capital Management LP acquired a new position in shares of Banner in the 1st quarter worth approximately $11,860,000. Finally, Bank of America Corp DE grew its position in shares of Banner by 25.4% in the 1st quarter. Bank of America Corp DE now owns 171,439 shares of the financial services provider’s stock worth $10,403,000 after acquiring an additional 34,679 shares in the last quarter. 87.33% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on BANR shares. DA Davidson boosted their price target on Banner from $74.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Keefe, Bruyette & Woods raised their price objective on Banner from $75.00 to $78.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Banner in a report on Monday, September 14th. Wall Street Zen lowered shares of Banner from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Finally, Piper Sandler dropped their target price on shares of Banner from $74.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, October 1st. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $75.75.

Banner Stock Performance

NASDAQ BANR traded up $0.15 during trading hours on Friday, reaching $69.29. The company’s stock had a trading volume of 179,114 shares, compared to its average volume of 269,042. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.09. The business has a 50-day simple moving average of $69.08 and a 200 day simple moving average of $66.42. Banner Corporation has a 52 week low of $57.05 and a 52 week high of $74.84. The stock has a market cap of $2.53 billion, a PE ratio of 11.78 and a beta of 0.83.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, October 21st. The financial services provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $179.07 million during the quarter, compared to the consensus estimate of $184.24 million. Banner had a return on equity of 10.44% and a net margin of 22.81%. Equities research analysts predict that Banner Corporation will post 6.13 earnings per share for the current fiscal year.

Banner Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 13th. Stockholders of record on Thursday, November 5th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date was Thursday, November 5th. Banner’s dividend payout ratio is presently 35.37%.

Banner Profile

Banner Corporation is a bank holding company and the parent of Banner Bank, a community bank serving individuals, businesses and organizations in the western United States. The company traces its roots to the First National Bank of Walla Walla, established in Washington in 1890. Through Banner Bank, the company offers deposit accounts, business and consumer lending, residential mortgage services, and commercial banking solutions. Its services also include treasury management and wealth management.