SG Americas Securities LLC Buys 25,903 Shares of Banner Corporation $BANR

SG Americas Securities LLC raised its stake in Banner Corporation (NASDAQ:BANR) by 114.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,508 shares of the financial services provider’s stock after purchasing an additional 25,903 shares during the period. SG Americas Securities LLC owned 0.14% of Banner worth $2,943,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of BANR. Royal Bank of Canada boosted its holdings in shares of Banner by 54.7% during the 1st quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider’s stock worth $1,412,000 after buying an additional 7,828 shares during the period. AQR Capital Management LLC raised its holdings in Banner by 19.6% in the 1st quarter. AQR Capital Management LLC now owns 29,714 shares of the financial services provider’s stock valued at $1,895,000 after acquiring an additional 4,877 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Banner by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,422 shares of the financial services provider’s stock worth $1,302,000 after acquiring an additional 891 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Banner during the first quarter worth approximately $248,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Banner by 5.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,471 shares of the financial services provider’s stock worth $7,427,000 after acquiring an additional 6,059 shares during the period. 87.33% of the stock is owned by institutional investors.

Banner Stock Performance

Shares of NASDAQ:BANR opened at $66.44 on Wednesday. Banner Corporation has a 12-month low of $57.05 and a 12-month high of $69.83. The company’s 50 day moving average price is $65.37 and its two-hundred day moving average price is $63.72. The firm has a market cap of $2.26 billion, a PE ratio of 11.19 and a beta of 0.83. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.10.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.38 by $0.21. The business had revenue of $168.91 million during the quarter, compared to analysts’ expectations of $169.60 million. Banner had a return on equity of 10.77% and a net margin of 23.24%. Equities research analysts predict that Banner Corporation will post 6.12 earnings per share for the current year.

Banner Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 15th. Stockholders of record on Tuesday, May 5th were given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, May 5th. This is a positive change from Banner’s previous quarterly dividend of $0.50. Banner’s dividend payout ratio is currently 35.02%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BANR. Keefe, Bruyette & Woods increased their target price on Banner from $73.00 to $75.00 and gave the stock a “market perform” rating in a research note on Monday, May 18th. Weiss Ratings upgraded Banner from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. DA Davidson reiterated a “neutral” rating and set a $72.00 price objective on shares of Banner in a research report on Monday, May 4th. Finally, Piper Sandler lifted their target price on Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $71.00.

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.