New York State Teachers Retirement System boosted its holdings in shares of Banner Co. (NASDAQ:BANR) by 3.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 17,267 shares of the financial services provider’s stock after buying an additional 600 shares during the quarter. New York State Teachers Retirement System’s holdings in Banner were worth $656,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in the stock. BBVA USA Bancshares Inc. increased its position in Banner by 24.2% during the 2nd quarter. BBVA USA Bancshares Inc. now owns 8,876 shares of the financial services provider’s stock valued at $337,000 after buying an additional 1,727 shares in the last quarter. SG Americas Securities LLC increased its position in Banner by 103.1% during the 2nd quarter. SG Americas Securities LLC now owns 15,412 shares of the financial services provider’s stock valued at $586,000 after buying an additional 7,822 shares in the last quarter. Beese Fulmer Investment Management Inc. acquired a new position in Banner during the 2nd quarter valued at about $130,000. North Star Investment Management Corp. increased its position in Banner by 125.7% during the 2nd quarter. North Star Investment Management Corp. now owns 19,750 shares of the financial services provider’s stock valued at $750,000 after buying an additional 11,000 shares in the last quarter. Finally, Sippican Capital Advisors grew its stake in Banner by 3.4% during the 2nd quarter. Sippican Capital Advisors now owns 12,734 shares of the financial services provider’s stock valued at $484,000 after purchasing an additional 413 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors.
BANR has been the topic of several research analyst reports. ValuEngine upgraded Banner from a “sell” rating to a “hold” rating in a research note on Thursday, June 4th. Zacks Investment Research upgraded Banner from a “sell” rating to a “hold” rating in a research note on Tuesday, July 28th. Raymond James boosted their price target on Banner from $36.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, April 29th. BidaskClub downgraded Banner from a “sell” rating to a “strong sell” rating in a research note on Friday, June 26th. Finally, Piper Sandler dropped their price target on Banner from $40.00 to $39.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $47.33.
Shares of BANR opened at $35.43 on Friday. Banner Co. has a 52 week low of $27.12 and a 52 week high of $60.21. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.25 billion, a price-to-earnings ratio of 10.94 and a beta of 1.15. The stock’s 50-day moving average price is $36.28 and its 200-day moving average price is $40.13.
Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, July 22nd. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.33. Banner had a return on equity of 7.74% and a net margin of 18.53%. The firm had revenue of $147.30 million for the quarter, compared to the consensus estimate of $140.97 million. As a group, equities analysts anticipate that Banner Co. will post 2.68 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Tuesday, August 4th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, August 3rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 4.63%. Banner’s payout ratio is 37.44%.
Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank that provides commercial banking and financial products and services to individuals, businesses, and public sector entities primarily in the United States. It offers deposit products, 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.
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