MQS Management LLC Invests $633,000 in Banner Corporation $BANR

MQS Management LLC acquired a new stake in shares of Banner Corporation (NASDAQ:BANR) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,435 shares of the financial services provider’s stock, valued at approximately $633,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Royal Bank of Canada increased its stake in Banner by 54.7% in the 1st quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider’s stock worth $1,412,000 after acquiring an additional 7,828 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of 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 acquiring an additional 4,877 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of 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 acquiring an additional 891 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in shares of Banner during the first quarter worth about $248,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Banner by 5.5% during 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 purchasing an additional 6,059 shares in the last quarter. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Banner Stock Up 0.2%

Shares of NASDAQ BANR opened at $66.44 on Wednesday. Banner Corporation has a one year low of $57.05 and a one year high of $69.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.85. The firm’s 50 day simple moving average is $65.37 and its two-hundred day simple moving average is $63.72. The stock has a market capitalization of $2.26 billion, a P/E ratio of 11.19 and a beta of 0.83.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Banner had a net margin of 23.24% and a return on equity of 10.77%. The firm had revenue of $168.91 million during the quarter, compared to analyst estimates of $169.60 million. As a group, analysts expect that Banner Corporation will post 6.12 EPS for the current fiscal year.

Banner Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 15th. Shareholders of record on Tuesday, May 5th were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, May 5th. This is a positive change from Banner’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 3.1%. Banner’s dividend payout ratio (DPR) is currently 35.02%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on BANR shares. DA Davidson reaffirmed a “neutral” rating and issued a $72.00 target price on shares of Banner in a research note on Monday, May 4th. Weiss Ratings raised shares of Banner from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Keefe, Bruyette & Woods raised their price objective on shares of Banner from $73.00 to $75.00 and gave the company a “market perform” rating in a research report on Monday, May 18th. Finally, Piper Sandler lifted their price objective on shares of Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Banner presently has a consensus rating of “Hold” and an average target price of $71.00.

Banner 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.