Intech Investment Management LLC Has $887,000 Position in Banner Corporation $BANR

Intech Investment Management LLC lowered its holdings in shares of Banner Corporation (NASDAQ:BANR) by 43.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,154 shares of the financial services provider’s stock after selling 10,886 shares during the period. Intech Investment Management LLC’s holdings in Banner were worth $887,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of BANR. UBS Group AG boosted its stake in Banner by 241.2% during the fourth quarter. UBS Group AG now owns 454,807 shares of the financial services provider’s stock worth $28,498,000 after buying an additional 321,522 shares in the last quarter. Deprince Race & Zollo Inc. boosted its stake in shares of Banner by 93.8% in the 4th quarter. Deprince Race & Zollo Inc. now owns 488,295 shares of the financial services provider’s stock valued at $30,597,000 after purchasing an additional 236,394 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Banner by 19.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,347 shares of the financial services provider’s stock valued at $64,878,000 after purchasing an additional 165,557 shares in the last quarter. Two Sigma Investments LP boosted its stake in shares of Banner by 307.8% in the 3rd quarter. Two Sigma Investments LP now owns 173,742 shares of the financial services provider’s stock valued at $11,380,000 after purchasing an additional 131,140 shares in the last quarter. Finally, Raymond James Financial Inc. boosted its stake in shares of Banner by 50.9% in the 3rd quarter. Raymond James Financial Inc. now owns 295,621 shares of the financial services provider’s stock valued at $19,363,000 after purchasing an additional 99,708 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.

Banner Price Performance

Shares of NASDAQ BANR opened at $64.86 on Monday. The firm’s 50-day simple moving average is $64.09 and its 200 day simple moving average is $63.37. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 10.92 and a beta of 0.83. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.10. Banner Corporation has a 12-month low of $57.05 and a 12-month high of $69.83.

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

Banner Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a dividend yield of 3.2%. This is an increase from Banner’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, May 5th. Banner’s payout ratio is currently 35.02%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Banner from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Piper Sandler boosted 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. Weiss Ratings upgraded shares of Banner from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th. DA Davidson restated a “neutral” rating and issued a $72.00 target price on shares of Banner in a research note on Monday, May 4th. Finally, Keefe, Bruyette & Woods boosted their target price on shares of Banner from $73.00 to $75.00 and gave the company a “market perform” rating in a research note on Monday, May 18th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $71.00.

Banner Company 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.