Mirae Asset Global Investments Co. Ltd. Buys New Position in Banner Corporation $BANR

Mirae Asset Global Investments Co. Ltd. bought a new stake in Banner Corporation (NASDAQ:BANR) during the third quarter, HoldingsChannel.com reports. The institutional investor bought 32,389 shares of the financial services provider’s stock, valued at approximately $2,170,000.

Several other large investors have also modified their holdings of the stock. Nykredit A S acquired a new stake in shares of Banner during the second quarter worth $28,000. Public Employees Retirement System of Ohio purchased a new position in Banner in the 2nd quarter valued at $36,000. Versant Capital Management Inc grew its position in Banner by 31.5% in the 2nd quarter. Versant Capital Management Inc now owns 714 shares of the financial services provider’s stock valued at $47,000 after buying an additional 171 shares during the last quarter. Allworth Financial LP increased its stake in Banner by 342.4% in the 2nd quarter. Allworth Financial LP now owns 845 shares of the financial services provider’s stock valued at $56,000 after buying an additional 654 shares during the period. Finally, Integrated Wealth Concepts LLC acquired a new position in Banner in the 2nd quarter valued at $76,000. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Banner Stock Down 0.0%

Shares of NASDAQ BANR opened at $70.09 on Friday. The stock has a market capitalization of $2.55 billion, a price-to-earnings ratio of 11.92 and a beta of 0.83. Banner Corporation has a 52 week low of $57.05 and a 52 week high of $74.84. The firm has a 50-day moving average price of $69.13 and a 200 day moving average price of $66.26. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.09.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, October 21st. The financial services provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.10. Banner had a net margin of 22.81% and a return on equity of 10.44%. The company had revenue of $179.07 million for the quarter, compared to analyst estimates of $184.24 million. Equities research analysts anticipate that Banner Corporation will post 6.13 EPS for the current fiscal year.

Banner Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Stockholders of record on Thursday, November 5th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, November 5th. This represents a $2.08 annualized dividend and a dividend yield of 3.0%. Banner’s payout ratio is 35.37%.

Wall Street Analyst Weigh In

BANR has been the subject of a number of analyst reports. DA Davidson upped their price objective on shares of Banner from $74.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. Stephens lifted their target price on shares of Banner from $77.00 to $78.00 and gave the company an “overweight” rating in a report on Monday, October 26th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Banner in a report on Monday, September 14th. Keefe, Bruyette & Woods boosted their price target on shares of Banner from $75.00 to $78.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Finally, Wall Street Zen cut shares of Banner from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, Banner has an average rating of “Hold” and a consensus target price of $75.75.

About Banner

Banner Corporation (NASDAQ: BANR) is a bank holding company headquartered in Walla Walla, Washington. Through its principal subsidiary, Banner Bank, the company provides banking and financial services to individuals, families, businesses and communities in the Pacific Northwest.

Banner Bank offers deposit products, residential and commercial real estate lending, construction and land development loans, commercial and industrial financing, agricultural loans, consumer loans and home equity products.