Allspring Global Investments Holdings LLC increased its holdings in Banner Co. (NASDAQ:BANR - Free Report) by 21.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 176,137 shares of the financial services provider's stock after purchasing an additional 31,328 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.51% of Banner worth $10,491,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC boosted its holdings in shares of Banner by 19.5% in the 3rd quarter. CWM LLC now owns 2,275 shares of the financial services provider's stock worth $136,000 after acquiring an additional 371 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Banner by 18.4% in the second quarter. The Manufacturers Life Insurance Company now owns 795,929 shares of the financial services provider's stock valued at $39,510,000 after buying an additional 123,903 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Banner by 113.8% in the second quarter. AQR Capital Management LLC now owns 71,915 shares of the financial services provider's stock valued at $3,570,000 after buying an additional 38,273 shares during the last quarter. Public Sector Pension Investment Board lifted its position in Banner by 7.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 75,787 shares of the financial services provider's stock worth $3,762,000 after buying an additional 5,378 shares in the last quarter. Finally, Intech Investment Management LLC acquired a new stake in Banner in the 2nd quarter valued at about $394,000. Institutional investors own 87.33% of the company's stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. Raymond James raised their price target on shares of Banner from $62.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, October 2nd. Janney Montgomery Scott lowered Banner from a "buy" rating to a "neutral" rating in a research report on Friday, July 19th. Piper Sandler set a $67.00 target price on shares of Banner in a research note on Thursday, October 17th. DA Davidson increased their price objective on shares of Banner from $60.00 to $69.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Finally, Stephens reaffirmed an "overweight" rating and set a $53.00 target price on shares of Banner in a report on Thursday, July 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. Based on data from MarketBeat, Banner currently has an average rating of "Hold" and a consensus price target of $61.60.
Check Out Our Latest Research Report on BANR
Banner Trading Down 2.1 %
Shares of NASDAQ BANR traded down $1.33 during midday trading on Friday, reaching $63.21. 138,967 shares of the stock were exchanged, compared to its average volume of 264,355. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84. Banner Co. has a 12 month low of $40.36 and a 12 month high of $68.11. The business has a 50-day simple moving average of $60.04 and a two-hundred day simple moving average of $53.06. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 13.22 and a beta of 1.05.
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 business had revenue of $213.90 million for the quarter, compared to analysts' expectations of $152.95 million. Banner had a return on equity of 10.22% and a net margin of 20.28%. During the same quarter in the previous year, the business posted $1.43 EPS. As a group, equities research analysts expect that Banner Co. will post 4.82 EPS for the current year.
Banner Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be issued a dividend of $0.48 per share. The ex-dividend date is Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.04%. Banner's payout ratio is 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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