Fisher Asset Management LLC Sells 14,141 Shares of Banner Corporation $BANR

Fisher Asset Management LLC lowered its position in Banner Corporation (NASDAQ:BANR) by 3.6% during the 2nd quarter, Holdings Channel reports. The fund owned 382,478 shares of the financial services provider’s stock after selling 14,141 shares during the period. Fisher Asset Management LLC’s holdings in Banner were worth $24,536,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BANR. Harbor Capital Advisors Inc. raised its position in shares of Banner by 1.4% during the second quarter. Harbor Capital Advisors Inc. now owns 13,120 shares of the financial services provider’s stock worth $842,000 after purchasing an additional 181 shares during the period. GAMMA Investing LLC grew its position in Banner by 26.3% in the 2nd quarter. GAMMA Investing LLC now owns 952 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 198 shares during the period. US Bancorp DE increased its stake in Banner by 13.1% during the 1st quarter. US Bancorp DE now owns 1,978 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 229 shares in the last quarter. HighTower Advisors LLC raised its holdings in Banner by 5.0% during the first quarter. HighTower Advisors LLC now owns 4,808 shares of the financial services provider’s stock worth $307,000 after buying an additional 230 shares during the last quarter. Finally, F m Investments LLC raised its holdings in Banner by 0.3% during the second quarter. F m Investments LLC now owns 83,512 shares of the financial services provider’s stock worth $5,357,000 after buying an additional 277 shares during the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.

Banner Stock Performance

Shares of BANR opened at $63.53 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 11.57 and a beta of 0.93. The stock has a 50 day moving average of $62.49 and a 200 day moving average of $63.95. Banner Corporation has a 12 month low of $54.01 and a 12 month high of $76.22.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Banner had a return on equity of 10.32% and a net margin of 21.80%.The firm had revenue of $168.75 million during the quarter, compared to the consensus estimate of $171.52 million. As a group, sell-side analysts forecast that Banner Corporation will post 5.23 earnings per share for the current year.

Banner Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were paid a $0.50 dividend. The ex-dividend date was Tuesday, November 4th. This is a positive change from Banner’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 3.1%. Banner’s dividend payout ratio is presently 36.43%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Banner from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Piper Sandler reaffirmed a “neutral” rating and issued a $70.00 price target on shares of Banner in a research report on Monday. DA Davidson decreased their price objective on Banner from $73.00 to $69.00 and set a “neutral” rating for the company in a report on Friday, October 17th. Weiss Ratings downgraded Banner from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 24th. Finally, Keefe, Bruyette & Woods lifted their target price on Banner from $73.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $71.17.

Banner Company Profile

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans.