Intech Investment Management LLC Sells 10,886 Shares of Banner Corporation $BANR

Intech Investment Management LLC reduced its stake in shares of Banner Corporation (NASDAQ:BANR) by 43.5% during the 4th quarter, Holdings Channel.com reports. The firm owned 14,154 shares of the financial services provider’s stock after selling 10,886 shares during the quarter. Intech Investment Management LLC’s holdings in Banner were worth $887,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. First Trust Advisors LP raised its holdings in Banner by 0.4% during the 3rd quarter. First Trust Advisors LP now owns 41,634 shares of the financial services provider’s stock worth $2,727,000 after purchasing an additional 175 shares during the last quarter. US Bancorp DE raised its holdings in Banner by 8.9% during the 3rd quarter. US Bancorp DE now owns 2,154 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 176 shares during the last quarter. Arizona State Retirement System raised its holdings in Banner by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 10,240 shares of the financial services provider’s stock worth $671,000 after purchasing an additional 177 shares during the last quarter. ProShare Advisors LLC raised its holdings in Banner by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 6,628 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 197 shares during the last quarter. Finally, CWM LLC raised its holdings in Banner by 12.9% during the 4th quarter. CWM LLC now owns 1,828 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 209 shares during the last quarter. 87.33% of the stock is owned by institutional investors.

Banner Stock Performance

Shares of BANR stock opened at $64.86 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.85. The stock has a market cap of $2.20 billion, a PE ratio of 10.92 and a beta of 0.83. The stock has a 50-day moving average of $64.09 and a 200-day moving average of $63.37. Banner Corporation has a one year low of $57.05 and a one year high of $69.83.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $1.59 EPS for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. The company had revenue of $168.91 million during the quarter, compared to analysts’ expectations of $169.60 million. Banner had a return on equity of 10.77% and a net margin of 23.24%. As a group, sell-side analysts expect that Banner Corporation will post 6.12 earnings per share for the current 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 $0.52 dividend. This is a boost from Banner’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, May 5th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. Banner’s dividend payout ratio (DPR) is currently 35.02%.

Wall Street Analysts Forecast Growth

BANR has been the subject of several recent research reports. Weiss Ratings raised Banner from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Piper Sandler boosted their price objective on Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods boosted their price objective on Banner from $73.00 to $75.00 and gave the stock a “market perform” rating in a report on Monday, May 18th. Wall Street Zen raised Banner from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, DA Davidson reissued a “neutral” rating and set a $72.00 price objective on shares of Banner in a report on Monday, May 4th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.