State of Alaska Department of Revenue Buys 1,489 Shares of Banner Corporation $BANR

State of Alaska Department of Revenue boosted its stake in Banner Corporation (NASDAQ:BANR) by 7.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,583 shares of the financial services provider’s stock after purchasing an additional 1,489 shares during the quarter. State of Alaska Department of Revenue owned about 0.06% of Banner worth $1,319,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Opal Wealth Advisors LLC bought a new stake in shares of Banner in the 1st quarter valued at about $34,000. GAMMA Investing LLC increased its stake in Banner by 53.9% in the first quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 264 shares in the last quarter. USA Financial Formulas raised its holdings in Banner by 69.1% in the first quarter. USA Financial Formulas now owns 805 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 329 shares during the period. Quarry LP boosted its position in shares of Banner by 4,612.0% during the first quarter. Quarry LP now owns 1,178 shares of the financial services provider’s stock worth $75,000 after purchasing an additional 1,153 shares in the last quarter. Finally, US Bancorp DE boosted its position in shares of Banner by 13.1% during the first quarter. US Bancorp DE now owns 1,978 shares of the financial services provider’s stock worth $126,000 after purchasing an additional 229 shares in the last quarter. Institutional investors own 87.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BANR. Weiss Ratings restated a “buy (b-)” rating on shares of Banner in a research report on Saturday, September 27th. Wall Street Zen downgraded Banner from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Finally, DA Davidson lifted their price objective on Banner from $67.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.17.

Banner Price Performance

Shares of NASDAQ BANR opened at $64.25 on Friday. The business’s 50 day moving average price is $65.27 and its two-hundred day moving average price is $63.83. The company has a market cap of $2.22 billion, a PE ratio of 12.24 and a beta of 0.91. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.40. Banner Corporation has a twelve month low of $54.01 and a twelve month high of $78.05.

Banner (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.03. Banner had a return on equity of 10.06% and a net margin of 21.15%.The company had revenue of $162.98 million during the quarter, compared to analysts’ expectations of $167.96 million. On average, analysts predict that Banner Corporation will post 5.23 EPS for the current year.

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Banner’s payout ratio is 36.57%.

Banner 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.