Y Intercept Hong Kong Ltd Makes New Investment in Banner Corporation $BANR

Y Intercept Hong Kong Ltd bought a new stake in shares of Banner Corporation (NASDAQ:BANR) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,089 shares of the financial services provider’s stock, valued at approximately $530,000.

Other institutional investors have also recently made changes to their positions in the company. Royal Bank of Canada raised its position in Banner by 54.7% during the first quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider’s stock valued at $1,412,000 after purchasing an additional 7,828 shares during the period. AQR Capital Management LLC raised its holdings in Banner by 19.6% during 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 buying an additional 4,877 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Banner by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,422 shares of the financial services provider’s stock valued at $1,302,000 after buying an additional 891 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Banner in the first quarter worth $248,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Banner by 5.5% in 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 buying an additional 6,059 shares during the last quarter. Institutional investors own 87.33% of the company’s stock.

Banner Stock Up 0.6%

Shares of NASDAQ BANR opened at $63.48 on Wednesday. Banner Corporation has a 52-week low of $54.01 and a 52-week high of $71.75. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 11.26 and a beta of 0.90. The stock has a 50 day moving average price of $64.30 and a 200 day moving average price of $64.03. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86.

Banner (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.46 by $0.09. Banner had a return on equity of 10.46% and a net margin of 22.26%.The company had revenue of $169.90 million for the quarter, compared to the consensus estimate of $173.23 million. Sell-side analysts expect that Banner Corporation will post 5.23 earnings per share for the current year.

Banner Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Tuesday, February 3rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, February 3rd. Banner’s payout ratio is presently 35.46%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of Banner in a research report on Wednesday, January 21st. Raymond James Financial reiterated an “outperform” rating and set a $70.00 price target (down from $72.00) on shares of Banner in a report on Friday, October 17th. Piper Sandler reissued a “neutral” rating and issued a $70.00 price objective on shares of Banner in a research note on Monday, December 1st. Keefe, Bruyette & Woods upped their target price on Banner from $73.00 to $74.00 and gave the company a “market perform” rating in a research note on Friday, October 17th. Finally, Wall Street Zen downgraded Banner from a “hold” rating to a “sell” rating in a report on Saturday. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $71.17.

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.