Charles Schwab Investment Management Inc. Acquires 43,398 Shares of Banner Co. (NASDAQ:BANR)

Charles Schwab Investment Management Inc. increased its position in shares of Banner Co. (NASDAQ:BANR - Free Report) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,330,064 shares of the financial services provider's stock after buying an additional 43,398 shares during the period. Charles Schwab Investment Management Inc. owned 3.86% of Banner worth $79,219,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co boosted its holdings in Banner by 4.5% during the first quarter. CANADA LIFE ASSURANCE Co now owns 39,517 shares of the financial services provider's stock valued at $1,897,000 after acquiring an additional 1,695 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Banner by 6.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 21,811 shares of the financial services provider's stock valued at $1,047,000 after acquiring an additional 1,253 shares during the period. Janus Henderson Group PLC grew its stake in shares of Banner by 56.7% in the first quarter. Janus Henderson Group PLC now owns 23,883 shares of the financial services provider's stock worth $1,147,000 after acquiring an additional 8,638 shares during the last quarter. Hancock Whitney Corp increased its position in Banner by 45.7% during the first quarter. Hancock Whitney Corp now owns 10,466 shares of the financial services provider's stock worth $502,000 after acquiring an additional 3,282 shares during the period. Finally, Boston Partners acquired a new position in Banner during the 1st 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 analysts have issued reports on BANR shares. Raymond James raised their price target on shares of Banner from $62.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. DA Davidson boosted their price target on Banner from $60.00 to $69.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Finally, Piper Sandler set a $67.00 price target on Banner in a report on Thursday, October 17th. One investment 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 data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $61.60.

Banner Price Performance

Shares of Banner stock traded down $0.25 during trading on Thursday, hitting $75.27. 165,558 shares of the company's stock traded hands, compared to its average volume of 198,511. Banner Co. has a twelve month low of $42.00 and a twelve month high of $78.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market cap of $2.59 billion, a PE ratio of 15.75 and a beta of 1.04. The firm's fifty day moving average price is $66.38 and its 200 day moving average price is $57.32.

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

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.92 annualized dividend and a yield of 2.55%. Banner's dividend payout ratio is currently 40.17%.

Insider Buying and Selling at Banner

In other news, VP James P.G. Mclean sold 1,500 shares of the firm's stock in a transaction that occurred on 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 sale, the vice president now owns 21,868 shares of the company's stock, valued at approximately $1,653,876.84. This trade represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.60% of the company's stock.

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.