First Trust Advisors LP Has $4.21 Million Stock Holdings in Banner Corporation $BANR

First Trust Advisors LP grew its position in Banner Corporation (NASDAQ:BANR) by 71.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,297 shares of the financial services provider’s stock after purchasing an additional 28,987 shares during the quarter. First Trust Advisors LP’s holdings in Banner were worth $4,205,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the company. Royal Bank of Canada boosted its position in Banner by 1.0% during the fourth quarter. Royal Bank of Canada now owns 17,519 shares of the financial services provider’s stock valued at $1,097,000 after acquiring an additional 167 shares during the last quarter. US Bancorp DE boosted its position in shares of Banner by 8.9% during the 3rd quarter. US Bancorp DE now owns 2,154 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 176 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Banner by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 6,628 shares of the financial services provider’s stock valued at $415,000 after purchasing an additional 197 shares in the last quarter. CWM LLC grew its stake in Banner by 12.9% during the fourth quarter. CWM LLC now owns 1,828 shares of the financial services provider’s stock worth $115,000 after purchasing an additional 209 shares during the period. Finally, California State Teachers Retirement System grew its stake in Banner by 0.9% during the second quarter. California State Teachers Retirement System now owns 31,818 shares of the financial services provider’s stock worth $2,041,000 after purchasing an additional 285 shares during the period. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Banner Stock Up 1.8%

Banner stock opened at $71.81 on Wednesday. Banner Corporation has a fifty-two week low of $57.05 and a fifty-two week high of $72.65. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88. The firm’s 50-day simple moving average is $67.47 and its 200 day simple moving average is $64.50. The stock has a market cap of $2.44 billion, a PE ratio of 11.85 and a beta of 0.83.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02). Banner had a net margin of 23.55% and a return on equity of 10.72%. The company had revenue of $172.11 million for the quarter, compared to the consensus estimate of $174.54 million. Research analysts predict that Banner Corporation will post 6.2 EPS for the current fiscal year.

Banner Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Tuesday, August 4th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Tuesday, August 4th. Banner’s dividend payout ratio (DPR) is presently 34.32%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on BANR shares. Benchmark started coverage on shares of Banner in a research report on Wednesday, July 8th. They set a “hold” rating for the company. Keefe, Bruyette & Woods increased their target price on shares of Banner from $75.00 to $78.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Wall Street Zen cut shares of Banner from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Piper Sandler lifted their price target on shares of Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, Weiss Ratings upgraded shares of Banner from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Banner presently has a consensus rating of “Hold” and an average target price of $72.75.

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.