New York State Teachers Retirement System Decreases Holdings in Banner Corporation $BANR

New York State Teachers Retirement System trimmed its position in Banner Corporation (NASDAQ:BANR) by 75.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,318 shares of the financial services provider’s stock after selling 10,267 shares during the period. New York State Teachers Retirement System’s holdings in Banner were worth $201,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Financial Life Planners acquired a new position in shares of Banner during the first quarter worth $30,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Banner in the 4th quarter worth $31,000. Aquatic Capital Management LLC purchased a new position in Banner during the 3rd quarter worth $36,000. EverSource Wealth Advisors LLC purchased a new position in Banner during the 2nd quarter worth $45,000. Finally, Lodestone Wealth Management LLC acquired a new position in Banner during the 4th quarter valued at about $66,000. 87.33% of the stock is owned by hedge funds and other institutional investors.

Banner Stock Performance

Shares of BANR stock opened at $69.05 on Wednesday. The business has a fifty day moving average of $65.69 and a 200 day moving average of $63.80. Banner Corporation has a 1 year low of $57.05 and a 1 year high of $69.83. 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 firm has a market capitalization of $2.35 billion, a price-to-earnings ratio of 11.62 and a beta of 0.83.

Banner (NASDAQ:BANR) last posted its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.21. The business had revenue of $168.91 million for the quarter, compared to the consensus estimate of $169.60 million. Banner had a return on equity of 10.77% and a net margin of 23.24%. As a group, research analysts expect that Banner Corporation will post 6.12 earnings per share for the current year.

Banner Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.0%. This is a positive change from Banner’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, May 5th. Banner’s dividend payout ratio is presently 35.02%.

Analysts Set New Price Targets

A number of equities research analysts have commented on BANR shares. Piper Sandler increased their price target on Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. DA Davidson restated a “neutral” rating and set a $72.00 price target on shares of Banner in a research note on Monday, May 4th. Keefe, Bruyette & Woods upped their price objective on shares of Banner from $73.00 to $75.00 and gave the company a “market perform” rating in a report on Monday, May 18th. Weiss Ratings raised shares of Banner from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Finally, Benchmark began coverage on shares of Banner in a research report on Wednesday, July 8th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the company 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.