Teacher Retirement System of Texas Has $428,000 Stock Position in Banner Corporation (NASDAQ:BANR)

Teacher Retirement System of Texas lifted its stake in shares of Banner Corporation (NASDAQ:BANR) by 114.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,705 shares of the financial services provider’s stock after purchasing an additional 3,572 shares during the period. Teacher Retirement System of Texas’ holdings in Banner were worth $428,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. American Century Companies Inc. boosted its stake in Banner by 5.5% in the fourth quarter. American Century Companies Inc. now owns 738,356 shares of the financial services provider’s stock valued at $49,300,000 after buying an additional 38,454 shares in the last quarter. Northern Trust Corp increased its holdings in Banner by 16.9% in the fourth quarter. Northern Trust Corp now owns 487,951 shares of the financial services provider’s stock worth $32,580,000 after purchasing an additional 70,544 shares in the last quarter. Bridgeway Capital Management LLC grew its stake in Banner by 2.0% in the fourth quarter. Bridgeway Capital Management LLC now owns 237,238 shares of the financial services provider’s stock valued at $15,840,000 after acquiring an additional 4,716 shares during the period. Raymond James Financial Inc. acquired a new stake in Banner in the fourth quarter valued at approximately $10,023,000. Finally, Invesco Ltd. boosted its position in shares of Banner by 2.0% during the fourth quarter. Invesco Ltd. now owns 134,060 shares of the financial services provider’s stock valued at $8,951,000 after buying an additional 2,637 shares during the last quarter. Institutional investors own 87.33% of the company’s stock.

Wall Street Analysts Forecast Growth

BANR has been the topic of a number of recent analyst reports. Stephens reiterated an “overweight” rating and set a $73.00 price target on shares of Banner in a report on Monday, April 21st. Keefe, Bruyette & Woods decreased their price objective on Banner from $75.00 to $73.00 and set a “market perform” rating on the stock in a research note on Monday, April 21st. Wall Street Zen cut Banner from a “hold” rating to a “sell” rating in a research report on Thursday, May 29th. Raymond James Financial restated an “outperform” rating and set a $65.00 target price (down from $77.00) on shares of Banner in a report on Monday, April 21st. Finally, Janney Montgomery Scott raised Banner from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a research report on Monday, April 21st. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $70.83.

Banner Stock Up 0.6%

Shares of NASDAQ:BANR opened at $67.21 on Friday. The business has a 50 day simple moving average of $64.18 and a two-hundred day simple moving average of $64.84. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.86 and a quick ratio of 0.85. Banner Corporation has a 1 year low of $51.14 and a 1 year high of $78.05. The firm has a market capitalization of $2.32 billion, a PE ratio of 12.80 and a beta of 0.89.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.03. The company had revenue of $162.98 million during the quarter, compared to the consensus estimate of $167.96 million. Banner had a net margin of 21.15% and a return on equity of 10.15%. On average, equities analysts predict that Banner Corporation will post 5.23 EPS for the current year.

Banner Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be given a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.86%. Banner’s dividend payout ratio (DPR) is currently 37.72%.

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.