Quest Partners LLC Makes New Investment in Banner Co. (NASDAQ:BANR)

Quest Partners LLC bought a new stake in Banner Co. (NASDAQ:BANR) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,069 shares of the financial services provider’s stock, valued at approximately $152,000.

Several other institutional investors also recently modified their holdings of the business. TFO Wealth Partners LLC boosted its stake in Banner by 35,800.0% in the fourth quarter. TFO Wealth Partners LLC now owns 718 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 716 shares during the last quarter. EntryPoint Capital LLC lifted its stake in shares of Banner by 100.9% in the 1st quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 558 shares during the period. Innealta Capital LLC bought a new position in shares of Banner in the 2nd quarter worth $53,000. CWM LLC grew its stake in shares of Banner by 60.1% during the second quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 715 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Banner in the first quarter valued at about $202,000. Institutional investors and hedge funds own 87.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on BANR shares. Piper Sandler raised their target price on Banner from $51.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. Stephens restated an “overweight” rating and set a $53.00 price objective on shares of Banner in a report on Thursday, July 18th. StockNews.com downgraded shares of Banner from a “hold” rating to a “sell” rating in a research note on Saturday, June 8th. Finally, Janney Montgomery Scott cut shares of Banner from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $54.00.

Banner Stock Performance

Shares of BANR stock opened at $58.29 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 0.85. Banner Co. has a 52 week low of $39.31 and a 52 week high of $61.77. The company’s 50 day moving average price is $56.74 and its two-hundred day moving average price is $49.91. The company has a market capitalization of $2.01 billion, a P/E ratio of 12.12 and a beta of 1.05.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $1.14 by $0.03. The business had revenue of $149.75 million for the quarter, compared to analyst estimates of $149.66 million. Banner had a net margin of 20.93% and a return on equity of 10.89%. On average, analysts expect that Banner Co. will post 4.71 earnings per share for the current fiscal year.

Banner Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were issued a $0.48 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.29%. Banner’s dividend payout ratio (DPR) is 39.92%.

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.