Citigroup Inc. Has $3.86 Million Holdings in Banner Corporation $BANR

Citigroup Inc. decreased its holdings in Banner Corporation (NASDAQ:BANR) by 42.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 58,977 shares of the financial services provider’s stock after selling 42,947 shares during the period. Citigroup Inc. owned about 0.17% of Banner worth $3,863,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Deprince Race & Zollo Inc. acquired a new position in Banner in the 3rd quarter valued at approximately $16,500,000. CSM Advisors LLC purchased a new position in shares of Banner during the 2nd quarter valued at $423,000. Public Sector Pension Investment Board increased its stake in shares of Banner by 14.5% in the third quarter. Public Sector Pension Investment Board now owns 134,925 shares of the financial services provider’s stock worth $8,838,000 after acquiring an additional 17,067 shares during the last quarter. Edgestream Partners L.P. increased its stake in shares of Banner by 86.8% in the second quarter. Edgestream Partners L.P. now owns 59,947 shares of the financial services provider’s stock worth $3,846,000 after acquiring an additional 27,863 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Banner during the second quarter worth $1,362,000. 87.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on BANR shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Banner in a research report on Wednesday, January 21st. Piper Sandler reiterated a “neutral” rating and set a $70.00 price target on shares of Banner in a report on Monday, December 1st. Finally, Wall Street Zen upgraded Banner from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Banner presently has a consensus rating of “Hold” and a consensus target price of $71.17.

Banner Stock Up 1.1%

NASDAQ BANR opened at $61.26 on Thursday. The stock has a market cap of $2.09 billion, a PE ratio of 10.86 and a beta of 0.88. 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 Corporation has a twelve month low of $54.01 and a twelve month high of $69.83. The firm has a 50-day simple moving average of $63.31 and a 200 day simple moving average of $63.89.

Banner (NASDAQ:BANR) last issued its earnings results 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 firm had revenue of $169.90 million during the quarter, compared to analysts’ expectations of $173.23 million. On average, research analysts forecast that Banner Corporation will post 5.23 EPS for the current year.

Banner Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Tuesday, February 3rd were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.3%. The ex-dividend date was Tuesday, February 3rd. Banner’s dividend payout ratio (DPR) is 35.46%.

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.