Public Employees Retirement System of Ohio Sells 41,627 Shares of Banner Corporation $BANR

Public Employees Retirement System of Ohio trimmed its holdings in shares of Banner Corporation (NASDAQ:BANR) by 98.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 519 shares of the financial services provider’s stock after selling 41,627 shares during the period. Public Employees Retirement System of Ohio’s holdings in Banner were worth $31,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of BANR. UBS Group AG boosted its stake in Banner by 241.2% in the fourth quarter. UBS Group AG now owns 454,807 shares of the financial services provider’s stock valued at $28,498,000 after acquiring an additional 321,522 shares during the last quarter. Deprince Race & Zollo Inc. raised its position in shares of Banner by 93.8% during the 4th quarter. Deprince Race & Zollo Inc. now owns 488,295 shares of the financial services provider’s stock valued at $30,597,000 after acquiring an additional 236,394 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Banner by 19.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,347 shares of the financial services provider’s stock valued at $64,878,000 after acquiring an additional 165,557 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of Banner by 60.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 366,689 shares of the financial services provider’s stock valued at $22,977,000 after purchasing an additional 138,525 shares during the period. Finally, Two Sigma Investments LP lifted its stake 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 valued at $11,380,000 after purchasing an additional 131,140 shares during the period. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Banner Stock Performance

BANR stock opened at $70.49 on Friday. The business’s 50-day moving average price is $67.68 and its two-hundred day moving average price is $64.57. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The firm has a market cap of $2.40 billion, a PE ratio of 11.63 and a beta of 0.83. Banner Corporation has a 1-year low of $57.05 and a 1-year high of $72.65.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.02). Banner had a return on equity of 10.72% and a net margin of 23.55%.The business had revenue of $172.11 million during the quarter, compared to the consensus estimate of $174.54 million. As a group, research analysts forecast that Banner Corporation will post 6.2 earnings per share for the current year.

Banner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Tuesday, August 4th will be given a $0.52 dividend. The ex-dividend date is Tuesday, August 4th. This represents a $2.08 annualized dividend and a dividend yield of 3.0%. Banner’s payout ratio is currently 34.32%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. DA Davidson lifted their price objective on Banner from $72.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. Weiss Ratings raised Banner from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Keefe, Bruyette & Woods increased their target price on Banner from $75.00 to $78.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Piper Sandler raised their target price on Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Finally, Benchmark initiated coverage on Banner in a research report on Wednesday, July 8th. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Banner presently has a consensus rating of “Hold” and an average price target of $72.75.

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.