William Blair Investment Management LLC Raises Stock Position in Banner Corporation $BANR

William Blair Investment Management LLC lifted its stake in Banner Corporation (NASDAQ:BANR) by 13.5% in the 3rd quarter, HoldingsChannel reports. The firm owned 709,665 shares of the financial services provider’s stock after buying an additional 84,283 shares during the quarter. William Blair Investment Management LLC’s holdings in Banner were worth $46,483,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royal Bank of Canada lifted its holdings in Banner by 54.7% in the first quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider’s stock worth $1,412,000 after buying an additional 7,828 shares during the period. AQR Capital Management LLC raised its position in shares of Banner by 19.6% in the 1st quarter. AQR Capital Management LLC now owns 29,714 shares of the financial services provider’s stock worth $1,895,000 after acquiring an additional 4,877 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Banner by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,422 shares of the financial services provider’s stock worth $1,302,000 after acquiring an additional 891 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Banner in the 1st quarter valued at approximately $248,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Banner by 5.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,471 shares of the financial services provider’s stock valued at $7,427,000 after purchasing an additional 6,059 shares in the last quarter. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Banner Stock Down 4.7%

Shares of Banner stock opened at $58.85 on Monday. The company has a 50-day simple moving average of $63.59 and a two-hundred day simple moving average of $63.97. The stock has a market capitalization of $2.01 billion, a PE ratio of 10.43 and a beta of 0.90. Banner Corporation has a 52-week low of $54.01 and a 52-week high of $69.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86.

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

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Tuesday, February 3rd were paid a $0.50 dividend. The ex-dividend date was Tuesday, February 3rd. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. Banner’s payout ratio is currently 35.46%.

Analyst Upgrades and Downgrades

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

About Banner

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.