Tudor Investment Corp ET AL Buys 69,666 Shares of Banner Corporation $BANR

Tudor Investment Corp ET AL grew its stake in Banner Corporation (NASDAQ:BANR) by 260.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 96,414 shares of the financial services provider’s stock after acquiring an additional 69,666 shares during the quarter. Tudor Investment Corp ET AL owned 0.28% of Banner worth $6,315,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in BANR. CIBC Bancorp USA Inc. bought a new position in shares of Banner during the third quarter valued at $238,000. Verition Fund Management LLC lifted its holdings in shares of Banner by 106.3% during the third quarter. Verition Fund Management LLC now owns 6,930 shares of the financial services provider’s stock valued at $454,000 after purchasing an additional 3,571 shares in the last quarter. Qube Research & Technologies Ltd bought a new position in shares of Banner during the third quarter valued at $3,005,000. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Banner by 7.8% during the third quarter. Mercer Global Advisors Inc. ADV now owns 16,893 shares of the financial services provider’s stock valued at $1,106,000 after purchasing an additional 1,229 shares in the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Banner by 33.2% during the third quarter. Millennium Management LLC now owns 340,215 shares of the financial services provider’s stock valued at $22,284,000 after purchasing an additional 84,805 shares in the last quarter. 87.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen raised Banner from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Piper Sandler lowered their price target on Banner from $67.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Finally, Weiss Ratings raised Banner from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Banner currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

Banner Trading Up 0.0%

Shares of NASDAQ:BANR opened at $62.70 on Wednesday. The company has a market cap of $2.14 billion, a P/E ratio of 11.12 and a beta of 0.85. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. Banner Corporation has a 1 year low of $54.64 and a 1 year high of $69.83. The stock’s fifty day moving average price is $61.43 and its 200-day moving average price is $62.78.

Banner (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.09. The company had revenue of $169.90 million during the quarter, compared to analysts’ expectations of $173.23 million. Banner had a return on equity of 10.46% and a net margin of 22.26%. Sell-side analysts expect that Banner Corporation will post 5.23 earnings per share for the current year.

Banner Announces Dividend

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 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date 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.