abrdn plc cut its position in shares of Banner Co. (NASDAQ:BANR - Free Report) by 28.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 318,935 shares of the financial services provider's stock after selling 124,137 shares during the quarter. abrdn plc owned 0.93% of Banner worth $21,295,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in BANR. USA Financial Formulas purchased a new stake in shares of Banner in the 4th quarter valued at approximately $32,000. Financial Life Planners acquired a new stake in Banner during the 4th quarter valued at $32,000. US Bancorp DE lifted its holdings in shares of Banner by 287.1% in the third quarter. US Bancorp DE now owns 1,436 shares of the financial services provider's stock valued at $86,000 after purchasing an additional 1,065 shares in the last quarter. KBC Group NV boosted its position in shares of Banner by 46.0% in the fourth quarter. KBC Group NV now owns 1,656 shares of the financial services provider's stock worth $111,000 after buying an additional 522 shares during the period. Finally, CWM LLC grew its holdings in shares of Banner by 19.5% during the third quarter. CWM LLC now owns 2,275 shares of the financial services provider's stock valued at $136,000 after buying an additional 371 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts recently issued reports on BANR shares. Piper Sandler set a $67.00 price objective on Banner in a research note on Thursday, October 17th. Keefe, Bruyette & Woods increased their price target on shares of Banner from $69.00 to $81.00 and gave the stock a "market perform" rating in a research report on Wednesday, December 4th. Stephens restated an "overweight" rating and set a $82.00 price target on shares of Banner in a report on Thursday, January 23rd. Finally, DA Davidson upped their price objective on shares of Banner from $73.00 to $76.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. 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 data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $74.20.
View Our Latest Analysis on BANR
Banner Stock Down 1.2 %
Shares of NASDAQ BANR traded down $0.84 during trading hours on Monday, hitting $69.00. The stock had a trading volume of 178,865 shares, compared to its average volume of 222,945. The firm's 50-day moving average price is $69.57 and its two-hundred day moving average price is $64.91. Banner Co. has a 52 week low of $42.00 and a 52 week high of $78.05. The company has a market capitalization of $2.38 billion, a P/E ratio of 14.14 and a beta of 1.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.86.
Banner (NASDAQ:BANR - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.22 by $0.11. Banner had a net margin of 20.28% and a return on equity of 10.03%. Analysts anticipate that Banner Co. will post 5.22 EPS for the current fiscal year.
Banner Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Tuesday, February 4th. Banner's payout ratio is 39.34%.
About Banner
(
Free Report)
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.
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