Renaissance Technologies LLC Buys 37,700 Shares of Banner Co. (NASDAQ:BANR)

Renaissance Technologies LLC boosted its holdings in Banner Co. (NASDAQ:BANR) by 223.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 54,599 shares of the financial services provider’s stock after buying an additional 37,700 shares during the period. Renaissance Technologies LLC’s holdings in Banner were worth $2,710,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BANR. TFO Wealth Partners LLC lifted its holdings 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 buying an additional 716 shares during the period. EntryPoint Capital LLC raised its holdings in Banner by 100.9% in the first quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock worth $53,000 after purchasing an additional 558 shares during the period. Innealta Capital LLC acquired a new stake in Banner in the second quarter worth $53,000. CWM LLC raised its holdings in Banner by 60.1% in 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, Quest Partners LLC acquired a new stake in Banner in the second quarter worth $152,000. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Janney Montgomery Scott lowered shares of Banner from a “buy” rating to a “neutral” 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 reiterated an “overweight” rating and issued a $53.00 target price on shares of Banner in a report on Thursday, July 18th. Finally, Piper Sandler increased 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. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $54.00.

Banner Stock Up 1.2 %

Shares of BANR stock opened at $59.56 on Tuesday. The firm has a fifty day moving average of $57.64 and a 200-day moving average of $50.87. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.43. Banner Co. has a 12-month low of $39.31 and a 12-month high of $61.77. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of 12.38 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.14 by $0.03. Banner had a net margin of 20.93% and a return on equity of 10.89%. The company had revenue of $149.75 million during the quarter, compared to the consensus estimate of $149.66 million. As a group, equities research analysts predict that Banner Co. will post 4.71 earnings per share for the current fiscal year.

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Investors of record on Tuesday, August 6th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Tuesday, August 6th. Banner’s dividend payout ratio (DPR) is currently 39.92%.

Banner 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.