Allspring Global Investments Holdings LLC Has $7.93 Million Holdings in Banner Corporation $BANR

Allspring Global Investments Holdings LLC reduced its holdings in Banner Corporation (NASDAQ:BANR) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 126,957 shares of the financial services provider’s stock after selling 9,026 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.37% of Banner worth $7,931,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of BANR. Deprince Race & Zollo Inc. acquired a new position in shares of Banner in the 3rd quarter worth approximately $16,500,000. The Manufacturers Life Insurance Company boosted its holdings in shares of Banner by 19.6% in the 2nd 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 in the last quarter. Two Sigma Investments LP boosted its holdings in shares of Banner by 307.8% in the 3rd quarter. Two Sigma Investments LP now owns 173,742 shares of the financial services provider’s stock worth $11,380,000 after acquiring an additional 131,140 shares in the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Banner by 50.9% in the 3rd quarter. Raymond James Financial Inc. now owns 295,621 shares of the financial services provider’s stock worth $19,363,000 after acquiring an additional 99,708 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Banner by 33.2% in the 3rd quarter. Millennium Management LLC now owns 340,215 shares of the financial services provider’s stock worth $22,284,000 after acquiring an additional 84,805 shares in the last quarter. 87.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Wall Street Zen raised Banner from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Piper Sandler reduced their price objective on Banner from $67.00 to $63.00 and set a “neutral” rating on the stock in a report on Thursday, April 2nd. Finally, Weiss Ratings raised Banner from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

Banner Stock Performance

Shares of Banner stock opened at $62.68 on Tuesday. The firm has a fifty day moving average of $61.40 and a two-hundred day moving average of $62.81. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.11 and a beta of 0.85. Banner Corporation has a 52 week low of $54.01 and a 52 week high of $69.83. 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 issued its earnings results on Wednesday, January 21st. The financial services provider reported $1.55 EPS for the quarter, beating the consensus estimate of $1.46 by $0.09. The company had revenue of $169.90 million during the quarter, compared to analysts’ expectations of $173.23 million. Banner had a net margin of 22.26% and a return on equity of 10.46%. As a group, equities research analysts predict that Banner Corporation will post 5.23 EPS for the current year.

Banner Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Tuesday, February 3rd were given a dividend of $0.50 per share. The ex-dividend date was Tuesday, February 3rd. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. Banner’s payout ratio is presently 35.46%.

About Banner

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.