Bridgeway Capital Management LLC Has $17.47 Million Stock Position in Banner Corporation $BANR

Bridgeway Capital Management LLC increased its position in shares of Banner Corporation (NASDAQ:BANR) by 8.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 278,771 shares of the financial services provider’s stock after buying an additional 22,889 shares during the quarter. Bridgeway Capital Management LLC owned about 0.82% of Banner worth $17,468,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Kemnay Advisory Services Inc. purchased a new stake in shares of Banner in the fourth quarter worth approximately $31,000. Financial Life Planners purchased a new stake in shares of Banner in the third quarter worth approximately $32,000. Aquatic Capital Management LLC purchased a new stake in shares of Banner in the third quarter worth approximately $36,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Banner in the second quarter worth approximately $45,000. Finally, Lodestone Wealth Management LLC purchased a new stake in shares of Banner in the fourth quarter worth approximately $66,000. 87.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BANR has been the subject of several analyst reports. Wall Street Zen raised Banner from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Piper Sandler increased their price objective on Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, April 27th. Weiss Ratings reissued a “buy (b-)” rating on shares of Banner in a research note on Thursday, June 4th. DA Davidson reissued a “neutral” rating and issued a $72.00 price objective on shares of Banner in a research note on Monday, May 4th. Finally, Keefe, Bruyette & Woods increased their price objective on Banner from $73.00 to $75.00 and gave the stock a “market perform” rating in a research note on Monday, May 18th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $71.00.

Banner Stock Performance

Shares of 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 capitalization of $2.20 billion, a price-to-earnings ratio of 10.90 and a beta of 0.83. The stock has a 50 day moving average of $64.87 and a 200 day moving average of $63.59. Banner Corporation has a 12 month low of $57.05 and a 12 month high of $69.83.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.38 by $0.21. Banner had a return on equity of 10.77% and a net margin of 23.24%.The business had revenue of $168.91 million during the quarter, compared to analyst estimates of $169.60 million. As a group, sell-side analysts forecast that Banner Corporation will post 6.12 earnings per share for the current year.

Banner Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were issued a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.2%. This is a positive change from Banner’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Tuesday, May 5th. Banner’s dividend payout ratio is currently 35.02%.

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.