Aberdeen Group plc Sells 21,329 Shares of Banner Corporation $BANR

Aberdeen Group plc lowered its holdings in Banner Corporation (NASDAQ:BANR) by 6.6% during the 3rd quarter, Holdings Channel reports. The firm owned 301,807 shares of the financial services provider’s stock after selling 21,329 shares during the period. Aberdeen Group plc’s holdings in Banner were worth $19,768,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently made changes to their positions in the business. EverSource Wealth Advisors LLC bought a new stake in shares of Banner during the 2nd quarter worth $45,000. GAMMA Investing LLC increased its holdings in Banner by 19.4% during the third quarter. GAMMA Investing LLC now owns 1,137 shares of the financial services provider’s stock worth $74,000 after buying an additional 185 shares during the last quarter. AlphaQuest LLC bought a new stake in Banner in the second quarter worth about $99,000. CWM LLC raised its position in Banner by 21.9% in the third quarter. CWM LLC now owns 1,619 shares of the financial services provider’s stock worth $106,000 after acquiring an additional 291 shares during the period. Finally, Brevan Howard Capital Management LP purchased a new position in Banner in the second quarter valued at about $222,000. 87.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler restated a “neutral” rating and set a $70.00 price target on shares of Banner in a research note on Monday, December 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of Banner in a report on Wednesday, January 21st. Finally, Wall Street Zen lowered Banner from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $71.17.

Banner Stock Performance

Shares of BANR stock opened at $64.23 on Thursday. The firm’s 50 day moving average is $64.32 and its 200 day moving average is $64.05. The stock has a market capitalization of $2.19 billion, a P/E ratio of 11.39 and a beta of 0.90. Banner Corporation has a 12 month low of $54.01 and a 12 month high of $70.06. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, January 21st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.09. The business had revenue of $169.90 million for the quarter, compared to analysts’ expectations of $173.23 million. Banner had a net margin of 22.26% and a return on equity of 10.46%. On average, sell-side analysts anticipate that Banner Corporation will post 5.23 earnings per share for the current year.

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Tuesday, February 3rd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, February 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 3.1%. Banner’s dividend payout ratio is 35.46%.

Banner 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.