Aberdeen Group plc Has $20.73 Million Holdings in Banner Corporation $BANR

Aberdeen Group plc lessened its position in Banner Corporation (NASDAQ:BANRFree Report) by 12.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 323,136 shares of the financial services provider’s stock after selling 47,307 shares during the period. Aberdeen Group plc’s holdings in Banner were worth $20,729,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Opal Wealth Advisors LLC acquired a new stake in Banner in the first quarter valued at approximately $34,000. GAMMA Investing LLC grew its stake in Banner by 53.9% in the first quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider’s stock valued at $48,000 after acquiring an additional 264 shares during the period. Quarry LP grew its stake in Banner by 4,612.0% in the first quarter. Quarry LP now owns 1,178 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 1,153 shares during the period. US Bancorp DE grew its stake in Banner by 13.1% in the first quarter. US Bancorp DE now owns 1,978 shares of the financial services provider’s stock valued at $126,000 after acquiring an additional 229 shares during the period. Finally, KBC Group NV grew its stake in Banner by 20.1% in the first quarter. KBC Group NV now owns 1,989 shares of the financial services provider’s stock valued at $127,000 after acquiring an additional 333 shares during the period. Institutional investors and hedge funds own 87.33% of the company’s stock.

Banner Stock Up 1.0%

Shares of NASDAQ:BANR opened at $61.67 on Tuesday. The stock has a market cap of $2.13 billion, a price-to-earnings ratio of 11.75 and a beta of 0.91. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.40. Banner Corporation has a 12-month low of $54.01 and a 12-month high of $78.05. The business’s 50 day moving average is $65.23 and its 200 day moving average is $63.74.

Banner (NASDAQ:BANRGet Free Report) last announced its earnings results on Wednesday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.03. The company had revenue of $162.98 million for the quarter, compared to analysts’ expectations of $167.96 million. Banner had a return on equity of 10.06% and a net margin of 21.15%. On average, sell-side analysts forecast that Banner Corporation will post 5.23 earnings per share for the current fiscal year.

Banner Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.92 annualized dividend and a yield of 3.1%. Banner’s payout ratio is currently 36.57%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BANR. Wall Street Zen cut Banner from a “hold” rating to a “sell” rating in a research note on Saturday, August 9th. Weiss Ratings reissued a “buy (b-)” rating on shares of Banner in a research note on Wednesday, October 8th. Finally, DA Davidson lifted their target price on Banner from $67.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.17.

Get Our Latest Stock Analysis on BANR

About Banner

(Free Report)

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans.

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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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