Sei Investments Co. Sells 9,752 Shares of Banner Corporation $BANR

Sei Investments Co. lessened its holdings in Banner Corporation (NASDAQ:BANR) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 103,301 shares of the financial services provider’s stock after selling 9,752 shares during the period. Sei Investments Co.’s holdings in Banner were worth $6,268,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in BANR. SG Americas Securities LLC raised its position in shares of Banner by 836.0% in the fourth quarter. SG Americas Securities LLC now owns 22,605 shares of the financial services provider’s stock valued at $1,416,000 after purchasing an additional 20,190 shares during the period. Sovran Advisors LLC bought a new stake in shares of Banner during the 4th quarter worth about $1,147,000. UBS Group AG grew its stake in Banner by 241.2% in the 4th quarter. UBS Group AG now owns 454,807 shares of the financial services provider’s stock valued at $28,498,000 after buying an additional 321,522 shares during the last quarter. Vanguard Group Inc. grew its stake in Banner by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,837,199 shares of the financial services provider’s stock valued at $240,439,000 after buying an additional 44,249 shares during the last quarter. Finally, Deprince Race & Zollo Inc. raised its holdings in Banner by 93.8% in 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 period. Institutional investors and hedge funds own 87.33% of the company’s stock.

Analysts Set New Price Targets

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

Banner Stock Performance

NASDAQ BANR opened at $70.55 on Tuesday. The firm has a 50-day moving average price of $67.34 and a two-hundred day moving average price of $64.45. Banner Corporation has a 12-month low of $57.05 and a 12-month high of $72.65. The company has a market capitalization of $2.40 billion, a P/E ratio of 11.64 and a beta of 0.83. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 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 for the quarter, compared to the consensus estimate of $174.54 million. Analysts anticipate that Banner Corporation will post 6.2 earnings per share for the current year.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Tuesday, August 4th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date is Tuesday, August 4th. Banner’s dividend payout ratio (DPR) is 34.32%.

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.