Citigroup Inc. Has $3.86 Million Holdings in Banner Corporation $BANR

Citigroup Inc. decreased its position in shares of Banner Corporation (NASDAQ:BANR) by 42.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,977 shares of the financial services provider’s stock after selling 42,947 shares during the period. Citigroup Inc.’s holdings in Banner were worth $3,863,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of BANR. JPMorgan Chase & Co. boosted its holdings in shares of Banner by 6.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 70,008 shares of the financial services provider’s stock worth $4,586,000 after acquiring an additional 3,971 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Banner by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 134,925 shares of the financial services provider’s stock worth $8,838,000 after purchasing an additional 17,067 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Banner by 0.5% during the third quarter. Rhumbline Advisers now owns 100,263 shares of the financial services provider’s stock worth $6,567,000 after purchasing an additional 536 shares during the last quarter. Arizona State Retirement System grew its holdings in shares of Banner by 1.8% during the third quarter. Arizona State Retirement System now owns 10,240 shares of the financial services provider’s stock worth $671,000 after purchasing an additional 177 shares during the last quarter. Finally, New York State Common Retirement Fund increased its stake in shares of Banner by 6.0% in the third quarter. New York State Common Retirement Fund now owns 28,084 shares of the financial services provider’s stock valued at $1,840,000 after buying an additional 1,600 shares in the last quarter. Institutional investors own 87.33% of the company’s stock.

Banner Stock Performance

Shares of BANR stock opened at $61.26 on Thursday. The stock has a market cap of $2.09 billion, a PE ratio of 10.86 and a beta of 0.88. The stock has a 50-day moving average of $63.31 and a 200-day moving average of $63.89. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. Banner Corporation has a one year low of $54.01 and a one year high of $69.83.

Banner (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.55 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $173.23 million. As a group, sell-side analysts expect that Banner Corporation will post 5.23 earnings per share for the current year.

Banner Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Tuesday, February 3rd were given a $0.50 dividend. The ex-dividend date was Tuesday, February 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. Banner’s dividend payout ratio is currently 35.46%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on BANR shares. Piper Sandler reiterated a “neutral” rating and set a $70.00 price target on shares of Banner in a research report on Monday, December 1st. Wall Street Zen upgraded shares of Banner from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Banner in a report on Wednesday, January 21st. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Banner currently has an average rating of “Hold” and an average price target of $71.17.

Banner Company 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.