Allianz Asset Management GmbH Trims Stock Holdings in Banner Corporation $BANR

Allianz Asset Management GmbH reduced its holdings in shares of Banner Corporation (NASDAQ:BANR) by 19.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 86,345 shares of the financial services provider’s stock after selling 20,286 shares during the period. Allianz Asset Management GmbH owned about 0.25% of Banner worth $5,656,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BANR. Westwood Holdings Group Inc. increased its stake in Banner by 3.2% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,179,927 shares of the financial services provider’s stock worth $75,692,000 after buying an additional 36,940 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Banner by 19.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,011,347 shares of the financial services provider’s stock worth $64,878,000 after acquiring an additional 165,557 shares during the period. Geode Capital Management LLC raised its stake in shares of Banner by 0.5% during the second quarter. Geode Capital Management LLC now owns 866,906 shares of the financial services provider’s stock valued at $55,619,000 after acquiring an additional 3,921 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Banner by 0.4% in the second quarter. William Blair Investment Management LLC now owns 625,382 shares of the financial services provider’s stock valued at $40,118,000 after purchasing an additional 2,741 shares during the period. Finally, Basswood Capital Management L.L.C. boosted its holdings in shares of Banner by 29.9% in the second quarter. Basswood Capital Management L.L.C. now owns 351,638 shares of the financial services provider’s stock valued at $22,558,000 after purchasing an additional 80,877 shares during the period. 87.33% of the stock is owned by hedge funds and other institutional investors.

Banner Trading Up 0.1%

Shares of NASDAQ:BANR opened at $65.18 on Wednesday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a market capitalization of $2.22 billion, a price-to-earnings ratio of 11.56 and a beta of 0.90. Banner Corporation has a 1 year low of $54.01 and a 1 year high of $70.28. The business’s 50 day moving average price is $64.40 and its 200-day moving average price is $64.01.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, January 21st. The financial services provider reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.46 by $0.09. Banner had a net margin of 22.26% and a return on equity of 10.46%. The business had revenue of $169.90 million during the quarter, compared to analysts’ expectations of $173.23 million. On average, equities research analysts forecast that Banner Corporation will post 5.23 earnings per share for the current fiscal year.

Banner Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Tuesday, February 3rd will be issued a $0.50 dividend. The ex-dividend date is Tuesday, February 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 3.1%. Banner’s dividend payout ratio (DPR) is presently 35.46%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BANR shares. Keefe, Bruyette & Woods lifted their target price on Banner from $73.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, October 17th. Wall Street Zen cut shares of Banner from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Piper Sandler reiterated a “neutral” rating and issued a $70.00 target price on shares of Banner in a research note on Monday, December 1st. Raymond James Financial restated an “outperform” rating and set a $70.00 target price (down from $72.00) on shares of Banner in a research note on Friday, October 17th. Finally, DA Davidson cut their price target 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. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price 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.