JPMorgan Chase & Co. Has $26.50 Million Holdings in Banner Co. (NASDAQ:BANR)

JPMorgan Chase & Co. cut its position in shares of Banner Co. (NASDAQ:BANR - Free Report) by 3.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 396,909 shares of the financial services provider's stock after selling 12,976 shares during the quarter. JPMorgan Chase & Co. owned 1.15% of Banner worth $26,502,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of BANR. Financial Life Planners bought a new stake in Banner during the fourth quarter worth approximately $32,000. USA Financial Formulas acquired a new position in shares of Banner in the 4th quarter valued at $32,000. Smartleaf Asset Management LLC increased its stake in Banner by 167.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 705 shares of the financial services provider's stock worth $47,000 after purchasing an additional 441 shares in the last quarter. KBC Group NV raised its holdings in Banner by 46.0% during the 4th 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, US Bancorp DE lifted its stake in Banner by 21.8% during the fourth quarter. US Bancorp DE now owns 1,749 shares of the financial services provider's stock valued at $117,000 after buying an additional 313 shares in the last quarter. Institutional investors own 87.33% of the company's stock.

Analysts Set New Price Targets

BANR has been the topic of a number of recent analyst reports. DA Davidson boosted their price target on shares of Banner from $73.00 to $76.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Stephens reaffirmed an "overweight" rating and set a $82.00 target price on shares of Banner in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $74.20.

Banner Stock Down 0.5 %

Shares of BANR traded down $0.28 during midday trading on Friday, reaching $56.51. 207,704 shares of the stock were exchanged, compared to its average volume of 210,737. The company has a market cap of $1.95 billion, a price-to-earnings ratio of 11.58 and a beta of 0.94. The firm has a 50 day simple moving average of $64.78 and a 200-day simple moving average of $67.12. Banner Co. has a 12-month low of $42.00 and a 12-month high of $78.05. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32.

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%. Research analysts forecast that Banner Co. will post 5.23 EPS for the current year.

Banner Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.40%. The ex-dividend date was Tuesday, February 4th. Banner's dividend payout ratio is currently 39.34%.

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.