Banner Corporation $BANR Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH reduced its stake in Banner Corporation (NASDAQ:BANR) by 19.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 86,345 shares of the financial services provider’s stock after selling 20,286 shares during the period. Allianz Asset Management GmbH’s holdings in Banner were worth $5,656,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new stake in shares of Banner in the second quarter valued at $45,000. GAMMA Investing LLC grew its stake in Banner by 19.4% during the 3rd 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 purchased a new position in shares of Banner during the second quarter worth approximately $99,000. CWM LLC grew its position in Banner by 21.9% during the 3rd quarter. CWM LLC now owns 1,619 shares of the financial services provider’s stock worth $106,000 after purchasing an additional 291 shares during the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in Banner in the 2nd quarter valued at about $222,000. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

BANR has been the topic of several recent research reports. Piper Sandler reissued a “neutral” rating and issued a $70.00 price objective on shares of Banner in a research note on Monday, December 1st. Wall Street Zen downgraded Banner from a “hold” rating to a “sell” rating in a research note on Saturday, January 31st. Keefe, Bruyette & Woods increased their price objective on Banner from $73.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, October 17th. DA Davidson decreased their target price on shares of Banner from $73.00 to $69.00 and set a “neutral” rating on the stock in a research report on Friday, October 17th. Finally, Raymond James Financial restated an “outperform” rating and issued a $70.00 price target (down previously from $72.00) on shares of Banner in a report on Friday, October 17th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $71.17.

Banner Stock Performance

Shares of NASDAQ:BANR opened at $65.18 on Wednesday. The company has a market cap of $2.22 billion, a P/E ratio of 11.56 and a beta of 0.90. The business’s 50-day simple moving average is $64.40 and its 200 day simple moving average is $64.01. Banner Corporation has a one year low of $54.01 and a one year high of $70.28. 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 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. Banner had a net margin of 22.26% and a return on equity of 10.46%. The business had revenue of $169.90 million during the quarter, compared to the consensus estimate of $173.23 million. On average, sell-side analysts forecast that Banner Corporation will post 5.23 earnings per share for the current fiscal year.

Banner Announces Dividend

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

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.