Mirae Asset Global Investments Co. Ltd. increased its stake in Banner Co. (NASDAQ:BANR - Free Report) by 18.7% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,939 shares of the financial services provider's stock after purchasing an additional 3,933 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned 0.07% of Banner worth $1,667,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. boosted its stake in shares of 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 worth $79,132,000 after purchasing an additional 588,591 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Banner by 12.2% during 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 purchasing an additional 193,434 shares during the last quarter. FMR LLC boosted its stake in shares of Banner by 395.4% during the 3rd quarter. FMR LLC now owns 166,120 shares of the financial services provider's stock worth $9,894,000 after purchasing an additional 132,586 shares during the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of Banner during the 3rd quarter worth about $6,477,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Banner by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,330,064 shares of the financial services provider's stock worth $79,219,000 after purchasing an additional 43,398 shares during the last quarter. 87.33% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on BANR. Keefe, Bruyette & Woods raised their price target on shares of Banner from $69.00 to $81.00 and gave the stock a "market perform" rating in a research note on Wednesday, December 4th. Stephens reaffirmed an "overweight" rating and set a $82.00 price target on shares of Banner in a research note on Thursday, January 23rd. DA Davidson raised their price target on shares of Banner from $73.00 to $76.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Finally, Piper Sandler set a $67.00 target price on shares of Banner in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $74.20.
View Our Latest Stock Analysis on BANR
Banner Trading Up 0.2 %
Shares of BANR traded up $0.13 during mid-day trading on Friday, hitting $68.66. The company had a trading volume of 157,535 shares, compared to its average volume of 216,215. The business's 50-day simple moving average is $69.17 and its 200-day simple moving average is $65.08. 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 Co. has a 1-year low of $42.00 and a 1-year high of $78.05. The stock has a market cap of $2.37 billion, a PE ratio of 14.07 and a beta of 1.09.
Banner (NASDAQ:BANR - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts' consensus estimates of $1.22 by $0.11. Banner had a net margin of 20.28% and a return on equity of 10.03%. Sell-side analysts forecast that Banner Co. will post 5.22 earnings per share for the current year.
Banner Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $1.92 dividend on an annualized basis and a yield of 2.80%. Banner's dividend payout ratio (DPR) is 39.34%.
Banner 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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