Aristotle Capital Boston LLC Cuts Stake in Banner Corporation $BANR

Aristotle Capital Boston LLC decreased its holdings in Banner Corporation (NASDAQ:BANR) by 9.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 218,172 shares of the financial services provider’s stock after selling 22,537 shares during the period. Aristotle Capital Boston LLC owned approximately 0.64% of Banner worth $13,671,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. SG Americas Securities LLC boosted its position in Banner by 836.0% during the 4th quarter. SG Americas Securities LLC now owns 22,605 shares of the financial services provider’s stock valued at $1,416,000 after buying an additional 20,190 shares during the period. Sovran Advisors LLC purchased a new stake in shares of Banner in the 4th quarter worth about $1,147,000. UBS Group AG lifted its position in Banner by 241.2% during the 4th quarter. UBS Group AG now owns 454,807 shares of the financial services provider’s stock valued at $28,498,000 after acquiring an additional 321,522 shares during the period. Vanguard Group Inc. lifted its position in Banner by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 3,837,199 shares of the financial services provider’s stock valued at $240,439,000 after acquiring an additional 44,249 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its position in Banner by 93.8% during the 4th quarter. Deprince Race & Zollo Inc. now owns 488,295 shares of the financial services provider’s stock valued at $30,597,000 after acquiring an additional 236,394 shares during the period. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Banner Stock Performance

BANR opened at $64.76 on Thursday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.10. The company has a market cap of $2.20 billion, a price-to-earnings ratio of 10.90 and a beta of 0.83. The company’s 50 day moving average is $64.87 and its 200 day moving average is $63.59. Banner Corporation has a 12-month low of $57.05 and a 12-month high of $69.83.

Banner (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. The company had revenue of $168.91 million for the quarter, compared to the consensus estimate of $169.60 million. Banner had a net margin of 23.24% and a return on equity of 10.77%. On average, equities research analysts predict that Banner Corporation will post 6.12 EPS for the current year.

Banner Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were issued a $0.52 dividend. 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. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.2%. Banner’s payout ratio is 35.02%.

Analysts Set New Price Targets

A number of analysts have weighed in on BANR shares. Weiss Ratings restated a “buy (b-)” rating on shares of Banner in a research note on Thursday, June 4th. Piper Sandler lifted their price target on shares of Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Keefe, Bruyette & Woods lifted their price target on shares of Banner from $73.00 to $75.00 and gave the stock a “market perform” rating in a research note on Monday, May 18th. Wall Street Zen upgraded shares of Banner from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Finally, DA Davidson reiterated a “neutral” rating and issued a $72.00 price target on shares of Banner in a research note on Monday, May 4th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Banner currently has a consensus rating of “Hold” and a consensus target price of $71.00.

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.