JPMorgan Chase & Co. increased its position in shares of Banner Co. (NASDAQ:BANR - Free Report) by 7.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 409,885 shares of the financial services provider's stock after purchasing an additional 29,174 shares during the period. JPMorgan Chase & Co. owned about 1.19% of Banner worth $24,413,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of BANR. US Bancorp DE lifted its holdings in shares of Banner by 287.1% during the 3rd quarter. US Bancorp DE now owns 1,436 shares of the financial services provider's stock worth $86,000 after acquiring an additional 1,065 shares during the period. CWM LLC boosted its holdings in 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 purchasing an additional 371 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Banner in the 2nd quarter valued at approximately $152,000. Clear Creek Financial Management LLC acquired a new position in shares of Banner in the 3rd quarter worth approximately $209,000. Finally, Princeton Capital Management LLC bought a new position in shares of Banner during the 3rd quarter worth approximately $255,000. 87.33% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have issued reports on the company. Keefe, Bruyette & Woods increased their price objective on Banner from $69.00 to $81.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Raymond James increased their target price 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 shares of Banner from $60.00 to $69.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Finally, Piper Sandler set a $67.00 price objective on shares of Banner in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $67.00.
View Our Latest Stock Analysis on Banner
Insider Activity
In related news, VP James P.G. Mclean sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total value of $113,445.00. Following the transaction, the vice president now directly owns 21,868 shares in the company, valued at $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 SEC, which is available at the SEC website. 1.60% of the stock is currently owned by insiders.
Banner Price Performance
NASDAQ:BANR traded up $0.14 during mid-day trading on Thursday, reaching $66.83. 223,798 shares of the company were exchanged, compared to its average volume of 206,500. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.30 billion, a PE ratio of 13.98 and a beta of 1.09. Banner Co. has a 12 month low of $42.00 and a 12 month high of $78.05. The company has a fifty day moving average of $70.74 and a 200 day moving average of $62.15.
Banner (NASDAQ:BANR - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.18 by $0.12. Banner had a net margin of 20.28% and a return on equity of 10.22%. The business had revenue of $213.90 million for the quarter, compared to analysts' expectations of $152.95 million. During the same period in the prior year, the firm earned $1.43 earnings per share. On average, research analysts anticipate that Banner Co. will post 4.88 EPS for the current fiscal year.
Banner Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.87%. Banner's payout ratio is currently 40.17%.
Banner Company Profile
(
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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