Fisher Asset Management LLC Has $24.54 Million Stock Position in Banner Corporation $BANR

Fisher Asset Management LLC cut its stake in shares of Banner Corporation (NASDAQ:BANR) by 3.6% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 382,478 shares of the financial services provider’s stock after selling 14,141 shares during the period. Fisher Asset Management LLC owned about 1.11% of Banner worth $24,536,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Edgestream Partners L.P. increased its holdings in Banner by 86.8% in the 2nd quarter. Edgestream Partners L.P. now owns 59,947 shares of the financial services provider’s stock worth $3,846,000 after purchasing an additional 27,863 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in shares of Banner by 0.9% during the second quarter. Panagora Asset Management Inc. now owns 209,410 shares of the financial services provider’s stock worth $13,434,000 after purchasing an additional 1,832 shares during the last quarter. F m Investments LLC increased its stake in shares of Banner by 0.3% in the second quarter. F m Investments LLC now owns 83,512 shares of the financial services provider’s stock valued at $5,357,000 after buying an additional 277 shares during the period. Norges Bank acquired a new position in shares of Banner in the second quarter valued at approximately $1,398,000. Finally, J.W. Cole Advisors Inc. bought a new position in Banner in the 2nd quarter valued at approximately $305,000. 87.33% of the stock is currently owned by institutional investors.

Banner Stock Performance

Shares of BANR opened at $63.53 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The firm’s fifty day simple moving average is $62.49 and its two-hundred day simple moving average is $63.95. Banner Corporation has a 12 month low of $54.01 and a 12 month high of $76.22. The stock has a market capitalization of $2.17 billion, a P/E ratio of 11.57 and a beta of 0.93.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Banner had a return on equity of 10.32% and a net margin of 21.80%.The company had revenue of $168.75 million for the quarter, compared to the consensus estimate of $171.52 million. As a group, analysts predict that Banner Corporation will post 5.23 EPS for the current year.

Banner Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 14th. Shareholders of record on Tuesday, November 4th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, November 4th. This is a positive change from Banner’s previous quarterly dividend of $0.48. Banner’s dividend payout ratio (DPR) is currently 36.43%.

Analysts Set New Price Targets

BANR has been the subject of several recent research reports. Raymond James Financial restated an “outperform” rating and issued a $70.00 price target (down from $72.00) on shares of Banner in a research report on Friday, October 17th. DA Davidson reduced their price objective on shares of Banner from $73.00 to $69.00 and set a “neutral” rating on the stock in a research note on Friday, October 17th. Wall Street Zen upgraded Banner from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Weiss Ratings lowered Banner from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Finally, Piper Sandler reiterated a “neutral” rating and issued a $70.00 price target on shares of Banner in a research report on Monday. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $71.17.

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.