Envestnet Asset Management Inc. Raises Stock Holdings in Banner Corporation (NASDAQ:BANR)

Envestnet Asset Management Inc. boosted its holdings in shares of Banner Corporation (NASDAQ:BANR) by 141.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,071 shares of the financial services provider’s stock after purchasing an additional 17,030 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Banner were worth $1,854,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Summit Investment Advisors Inc. boosted its position in Banner by 5.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,591 shares of the financial services provider’s stock worth $240,000 after purchasing an additional 187 shares in the last quarter. GAMMA Investing LLC boosted its position in Banner by 53.9% during the first quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 264 shares in the last quarter. USA Financial Formulas boosted its position in Banner by 69.1% during the first quarter. USA Financial Formulas now owns 805 shares of the financial services provider’s stock worth $51,000 after purchasing an additional 329 shares in the last quarter. Bank of Montreal Can boosted its position in Banner by 9.5% during the fourth quarter. Bank of Montreal Can now owns 3,792 shares of the financial services provider’s stock worth $253,000 after purchasing an additional 330 shares in the last quarter. Finally, KBC Group NV boosted its position in Banner by 20.1% during the first quarter. KBC Group NV now owns 1,989 shares of the financial services provider’s stock worth $127,000 after purchasing an additional 333 shares in the last quarter. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Banner Price Performance

NASDAQ:BANR opened at $62.82 on Thursday. Banner Corporation has a one year low of $51.14 and a one year high of $78.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market cap of $2.17 billion, a PE ratio of 11.97 and a beta of 0.89. The stock has a 50 day moving average price of $64.25 and a 200 day moving average price of $64.73.

Banner (NASDAQ:BANR) last posted its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.32 by $0.03. Banner had a return on equity of 10.06% and a net margin of 21.15%. The firm had revenue of $162.98 million during the quarter, compared to analysts’ expectations of $167.96 million. Equities research analysts expect that Banner Corporation will post 5.23 EPS for the current fiscal year.

Banner Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.92 annualized dividend and a dividend yield of 3.06%. Banner’s dividend payout ratio is presently 36.57%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on BANR shares. Keefe, Bruyette & Woods lowered their price target on Banner from $75.00 to $73.00 and set a “market perform” rating on the stock in a research report on Monday, April 21st. Stephens restated an “overweight” rating and issued a $73.00 target price on shares of Banner in a research report on Monday, April 21st. DA Davidson raised their target price on Banner from $67.00 to $72.00 and gave the company a “neutral” rating in a research report on Friday, July 18th. Wall Street Zen upgraded Banner from a “sell” rating to a “hold” rating in a research report on Friday, July 18th. Finally, Raymond James Financial restated an “outperform” rating and issued a $65.00 target price (down previously from $77.00) on shares of Banner in a research report on Monday, April 21st. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.17.

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.