Hsbc Holdings PLC Invests $897,000 in Banner Corporation $BANR

Hsbc Holdings PLC purchased a new stake in shares of Banner Corporation (NASDAQ:BANR) during the 4th quarter, Holdings Channel reports. The fund purchased 14,341 shares of the financial services provider’s stock, valued at approximately $897,000.

A number of other institutional investors also recently bought and sold shares of the stock. SG Americas Securities LLC increased its position in Banner by 836.0% during the fourth quarter. SG Americas Securities LLC now owns 22,605 shares of the financial services provider’s stock valued at $1,416,000 after acquiring an additional 20,190 shares during the last quarter. Sovran Advisors LLC bought a new stake in shares of Banner in the 4th quarter worth about $1,147,000. UBS Group AG lifted its holdings in shares of Banner by 241.2% in the 4th quarter. UBS Group AG now owns 454,807 shares of the financial services provider’s stock worth $28,498,000 after acquiring an additional 321,522 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Banner by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,837,199 shares of the financial services provider’s stock worth $240,439,000 after acquiring an additional 44,249 shares during the last quarter. Finally, Deprince Race & Zollo Inc. boosted its stake in shares of Banner by 93.8% during the 4th quarter. Deprince Race & Zollo Inc. now owns 488,295 shares of the financial services provider’s stock worth $30,597,000 after purchasing an additional 236,394 shares during the period. 87.33% of the stock is currently owned by institutional investors.

Banner Trading Up 1.5%

NASDAQ BANR opened at $68.57 on Tuesday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.86. The company has a market capitalization of $2.33 billion, a price-to-earnings ratio of 11.54 and a beta of 0.83. The company’s 50-day simple moving average is $65.61 and its two-hundred day simple moving average is $63.77. 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 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.21. Banner had a net margin of 23.24% and a return on equity of 10.77%. The firm had revenue of $168.91 million during the quarter, compared to analysts’ expectations of $169.60 million. Equities analysts forecast that Banner Corporation will post 6.12 EPS for the current fiscal 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 given a $0.52 dividend. This represents a $2.08 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, May 5th. This is a positive change from Banner’s previous quarterly dividend of $0.50. Banner’s dividend payout ratio is presently 35.02%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BANR. Weiss Ratings upgraded shares of Banner from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. DA Davidson reissued a “neutral” rating and issued a $72.00 price objective on shares of Banner in a research note on Monday, May 4th. Keefe, Bruyette & Woods boosted their target price on Banner from $73.00 to $75.00 and gave the company a “market perform” rating in a research report on Monday, May 18th. Piper Sandler upped their target price on Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, Benchmark initiated coverage on Banner in a report on Wednesday, July 8th. They issued a “hold” rating on the stock. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus 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.