Edgestream Partners L.P. Has $998,000 Holdings in Banner Co. (NASDAQ:BANR)

Edgestream Partners L.P. trimmed its position in Banner Co. (NASDAQ:BANR) by 80.4% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,111 shares of the financial services provider’s stock after selling 82,623 shares during the quarter. Edgestream Partners L.P. owned 0.06% of Banner worth $998,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new stake in Banner during the fourth quarter valued at approximately $12,097,000. Bridgeway Capital Management LLC boosted its stake in Banner by 10.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 262,413 shares of the financial services provider’s stock valued at $14,055,000 after buying an additional 24,008 shares in the last quarter. Hennessy Advisors Inc. grew its position in Banner by 58.3% in the first quarter. Hennessy Advisors Inc. now owns 57,000 shares of the financial services provider’s stock valued at $2,736,000 after acquiring an additional 21,000 shares during the period. Rafferty Asset Management LLC grew its position in Banner by 61.1% in the fourth quarter. Rafferty Asset Management LLC now owns 45,138 shares of the financial services provider’s stock valued at $2,418,000 after acquiring an additional 17,112 shares during the period. Finally, Boston Partners bought a new position in shares of Banner during the first quarter valued at $1,025,000. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BANR shares. Piper Sandler upped their target price on shares of Banner from $51.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. StockNews.com lowered shares of Banner from a “hold” rating to a “sell” rating in a report on Saturday, June 8th. Stephens reissued an “overweight” rating and issued a $53.00 target price on shares of Banner in a report on Thursday, July 18th. Finally, Janney Montgomery Scott lowered 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 given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $54.00.

Banner Stock Performance

BANR opened at $61.29 on Friday. Banner Co. has a 1-year low of $39.31 and a 1-year high of $61.77. The stock has a market capitalization of $2.11 billion, a PE ratio of 12.74 and a beta of 1.05. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.43. The firm has a 50-day moving average price of $57.47 and a two-hundred day moving average price of $50.28.

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

Banner Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.48 per share. The ex-dividend date was Tuesday, August 6th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.13%. Banner’s payout ratio is currently 39.92%.

About Banner

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.