Squarepoint Ops LLC Takes $1.36 Million Position in Banner Corporation $BANR

Squarepoint Ops LLC acquired a new position in shares of Banner Corporation (NASDAQ:BANR) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,229 shares of the financial services provider’s stock, valued at approximately $1,362,000. Squarepoint Ops LLC owned approximately 0.06% of Banner as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its stake in 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 worth $64,878,000 after purchasing an additional 165,557 shares during the period. Invesco Ltd. boosted its position in shares of Banner by 86.0% during the first quarter. Invesco Ltd. now owns 249,298 shares of the financial services provider’s stock worth $15,898,000 after buying an additional 115,238 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Banner by 11.6% during the first quarter. The Manufacturers Life Insurance Company now owns 845,790 shares of the financial services provider’s stock worth $53,936,000 after buying an additional 88,056 shares during the period. Basswood Capital Management L.L.C. grew its holdings in shares of Banner by 29.9% during the second quarter. Basswood Capital Management L.L.C. now owns 351,638 shares of the financial services provider’s stock worth $22,558,000 after buying an additional 80,877 shares in the last quarter. Finally, Raymond James Financial Inc. raised its position in Banner by 34.5% in the 2nd quarter. Raymond James Financial Inc. now owns 195,913 shares of the financial services provider’s stock valued at $12,568,000 after buying an additional 50,243 shares during the last quarter. 87.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have weighed in on BANR. Raymond James Financial reaffirmed an “outperform” rating and set a $70.00 price target (down previously from $72.00) on shares of Banner in a research report on Friday, October 17th. Keefe, Bruyette & Woods increased their target price on shares of Banner from $73.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, October 17th. Weiss Ratings lowered shares of Banner from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Wall Street Zen upgraded shares of Banner from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Banner in a research report on Monday, December 1st. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $71.17.

Banner Stock Down 1.8%

Shares of BANR stock opened at $66.30 on Friday. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s 50-day moving average is $62.97 and its 200-day moving average is $64.25. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 12.08 and a beta of 0.93. Banner Corporation has a 52-week low of $54.01 and a 52-week high of $72.58.

Banner (NASDAQ:BANR) last posted its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The business had revenue of $168.75 million during the quarter, compared to analysts’ expectations of $171.52 million. Banner had a return on equity of 10.32% and a net margin of 21.80%. Sell-side analysts predict that Banner Corporation will post 5.23 EPS for the current year.

Banner Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 14th. Investors of record on Tuesday, November 4th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, November 4th. This is a boost from Banner’s previous quarterly dividend of $0.48. Banner’s payout ratio is presently 36.43%.

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.