Geode Capital Management LLC Purchases 11,808 Shares of Banner Co. (NASDAQ:BANR)

Geode Capital Management LLC lifted its holdings in Banner Co. (NASDAQ:BANR - Free Report) by 1.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 823,763 shares of the financial services provider's stock after buying an additional 11,808 shares during the quarter. Geode Capital Management LLC owned approximately 2.39% of Banner worth $49,073,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its stake 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 worth $79,219,000 after acquiring an additional 43,398 shares in the last quarter. Versor Investments LP bought a new stake in shares of Banner in the 3rd quarter worth approximately $439,000. Panagora Asset Management Inc. grew its stake in shares of Banner by 2.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 203,759 shares of the financial services provider's stock worth $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 worth $106,334,000 after buying an additional 193,434 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in Banner by 79.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider's stock valued at $79,132,000 after buying an additional 588,591 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of the business'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 directly owns 21,868 shares in the company, valued at approximately $1,653,876.84. The trade was a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.60% of the stock is owned by corporate insiders.

Banner Stock Performance

NASDAQ:BANR traded up $1.16 during mid-day trading on Tuesday, reaching $67.57. The company's stock had a trading volume of 114,792 shares, compared to its average volume of 201,772. The firm's fifty day moving average price is $70.29 and its two-hundred day moving average price is $60.49. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.33 billion, a P/E ratio of 14.14 and a beta of 1.07. Banner Co. has a 12-month low of $42.00 and a 12-month high of $78.05.

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

Banner Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Tuesday, November 5th. Banner's dividend payout ratio (DPR) is presently 40.17%.

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.