Allianz Asset Management GmbH Has $6.84 Million Position in Banner Corporation $BANR

Allianz Asset Management GmbH lowered its holdings in Banner Corporation (NASDAQ:BANR) by 17.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 106,631 shares of the financial services provider’s stock after selling 22,473 shares during the quarter. Allianz Asset Management GmbH’s holdings in Banner were worth $6,840,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its position in Banner by 53.9% in the 1st quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider’s stock valued at $48,000 after purchasing an additional 264 shares during the period. Quarry LP grew its position in Banner by 4,612.0% in the 1st quarter. Quarry LP now owns 1,178 shares of the financial services provider’s stock valued at $75,000 after purchasing an additional 1,153 shares during the period. US Bancorp DE grew its position in Banner by 13.1% in the 1st quarter. US Bancorp DE now owns 1,978 shares of the financial services provider’s stock valued at $126,000 after purchasing an additional 229 shares during the period. KBC Group NV grew its position in Banner by 20.1% in the 1st quarter. KBC Group NV now owns 1,989 shares of the financial services provider’s stock valued at $127,000 after purchasing an additional 333 shares during the period. Finally, ZWJ Investment Counsel Inc. acquired a new stake in Banner in the 2nd quarter valued at $212,000. Institutional investors and hedge funds own 87.33% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of Banner in a research report on Wednesday, October 8th. DA Davidson reduced their price target on shares of Banner from $73.00 to $69.00 and set a “neutral” rating for the company in a research report on Friday, October 17th. Keefe, Bruyette & Woods lifted their price objective on shares of Banner from $73.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, October 17th. Raymond James Financial reaffirmed an “outperform” rating and set a $70.00 price objective (down from $72.00) on shares of Banner in a report on Friday, October 17th. Finally, Wall Street Zen raised shares of Banner from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, Banner presently has an average rating of “Moderate Buy” and an average target price of $71.40.

Banner Price Performance

BANR opened at $63.65 on Thursday. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86. The company has a market capitalization of $2.20 billion, a price-to-earnings ratio of 11.59 and a beta of 0.91. The firm’s fifty day moving average price is $65.15 and its two-hundred day moving average price is $63.78. Banner Corporation has a 1 year low of $54.01 and a 1 year high of $78.05.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, October 15th. The financial services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. The company had revenue of $168.75 million for the quarter, compared to analysts’ expectations of $171.52 million. Banner had a return on equity of 10.32% and a net margin of 21.80%. As a group, analysts anticipate that Banner Corporation will post 5.23 earnings per share for the current fiscal year.

Banner Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, November 4th. This is a positive change from Banner’s previous quarterly dividend of $0.48. Banner’s dividend payout ratio (DPR) is presently 34.97%.

Banner Company Profile

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, 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.