Barclays PLC Acquires 37,390 Shares of Banner Co. (NASDAQ:BANR)

Barclays PLC grew its stake in shares of Banner Co. (NASDAQ:BANR - Free Report) by 97.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,768 shares of the financial services provider's stock after acquiring an additional 37,390 shares during the period. Barclays PLC owned 0.22% of Banner worth $4,512,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BANR. Charles Schwab Investment Management Inc. boosted its position in Banner by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,330,064 shares of the financial services provider's stock valued at $79,219,000 after purchasing an additional 43,398 shares during the last quarter. Versor Investments LP acquired a new stake in shares of Banner during the 3rd quarter valued at about $439,000. Panagora Asset Management Inc. lifted its holdings in shares of Banner by 2.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 203,759 shares of the financial services provider's stock valued at $10,115,000 after buying an additional 5,380 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of Banner by 12.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider's stock valued at $106,334,000 after buying an additional 193,434 shares in the last quarter. Finally, Victory Capital Management Inc. increased its holdings in Banner by 79.5% in the third quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider's stock worth $79,132,000 after buying an additional 588,591 shares during the last quarter. 87.33% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP James P.G. Mclean sold 1,500 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total transaction of $113,445.00. Following the completion of the transaction, the vice president now owns 21,868 shares of the company's stock, valued at approximately $1,653,876.84. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

Banner Stock Performance

BANR traded up $0.93 during trading on Friday, hitting $65.80. The stock had a trading volume of 836,215 shares, compared to its average volume of 202,049. The firm has a market cap of $2.27 billion, a PE ratio of 13.77 and a beta of 1.07. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. Banner Co. has a 12 month low of $42.00 and a 12 month high of $78.05. The company has a 50 day simple moving average of $70.24 and a 200-day simple moving average of $60.25.

Banner (NASDAQ:BANR - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.12. Banner had a return on equity of 10.22% and a net margin of 20.28%. The business had revenue of $213.90 million for the quarter, compared to analyst estimates of $152.95 million. During the same period in the previous year, the company posted $1.43 earnings per share. Analysts expect that Banner Co. will post 4.88 EPS for the current year.

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a dividend of $0.48 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.92%. Banner's dividend payout ratio (DPR) is presently 40.17%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on BANR shares. Keefe, Bruyette & Woods lifted their target price on shares of Banner from $69.00 to $81.00 and gave the company a "market perform" rating in a research note on Wednesday, December 4th. DA Davidson lifted their price objective on shares of Banner from $60.00 to $69.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Piper Sandler set a $67.00 target price on shares of Banner in a research report on Thursday, October 17th. Finally, Raymond James boosted their price target on Banner from $62.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Banner currently has a consensus rating of "Hold" and a consensus price target of $67.00.

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.