Banner Corporation $BANR Shares Acquired by Princeton Capital Management LLC

Princeton Capital Management LLC raised its holdings in shares of Banner Corporation (NASDAQ:BANR) by 23.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,281 shares of the financial services provider’s stock after buying an additional 1,000 shares during the period. Princeton Capital Management LLC’s holdings in Banner were worth $339,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of BANR. Bank of Montreal Can boosted its stake in shares of Banner by 7.9% during the 2nd quarter. Bank of Montreal Can now owns 5,519 shares of the financial services provider’s stock worth $354,000 after acquiring an additional 405 shares in the last quarter. MQS Management LLC purchased a new stake in shares of Banner during the second quarter valued at $356,000. AlphaQuest LLC acquired a new position in shares of Banner in the 2nd quarter valued at $99,000. William Blair Investment Management LLC boosted its position in shares of Banner by 0.4% in the 2nd quarter. William Blair Investment Management LLC now owns 625,382 shares of the financial services provider’s stock valued at $40,118,000 after purchasing an additional 2,741 shares during the period. Finally, New York State Teachers Retirement System increased its stake in Banner by 25.7% in the 2nd quarter. New York State Teachers Retirement System now owns 13,585 shares of the financial services provider’s stock worth $871,000 after purchasing an additional 2,777 shares in the last quarter. Institutional investors own 87.33% of the company’s stock.

Banner Stock Down 1.3%

Shares of BANR opened at $59.64 on Friday. The firm has a market cap of $2.06 billion, a P/E ratio of 10.86 and a beta of 0.96. The stock’s 50 day moving average is $64.19 and its two-hundred day moving average is $64.02. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. Banner Corporation has a 12 month low of $54.01 and a 12 month high of $78.05.

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

Banner Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, November 4th. This is an increase from Banner’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.4%. Banner’s dividend payout ratio is presently 36.43%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Weiss Ratings lowered shares of Banner from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. DA Davidson cut their price target on shares of Banner from $73.00 to $69.00 and set a “neutral” rating on the stock in a report on Friday, October 17th. Wall Street Zen upgraded shares of Banner from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. Raymond James Financial restated an “outperform” rating and set a $70.00 price target (down from $72.00) on shares of Banner in a report on Friday, October 17th. Finally, Keefe, Bruyette & Woods increased their price objective on Banner from $73.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $71.40.

About Banner

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.