abrdn plc Acquires 20,978 Shares of Banner Co. (NASDAQ:BANR)

abrdn plc raised its holdings in Banner Co. (NASDAQ:BANR - Free Report) by 5.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 443,072 shares of the financial services provider's stock after acquiring an additional 20,978 shares during the period. abrdn plc owned approximately 1.29% of Banner worth $26,389,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in BANR. Dimensional Fund Advisors LP grew its position in Banner by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,361,774 shares of the financial services provider's stock worth $117,236,000 after acquiring an additional 37,780 shares during the period. The Manufacturers Life Insurance Company lifted its position in 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 during the last quarter. Victory Capital Management Inc. raised its position in Banner by 0.6% in the second quarter. Victory Capital Management Inc. now owns 740,025 shares of the financial services provider's stock valued at $36,735,000 after purchasing an additional 4,323 shares during the period. Westwood Holdings Group Inc. boosted its holdings in Banner by 3.7% during the 1st quarter. Westwood Holdings Group Inc. now owns 717,058 shares of the financial services provider's stock valued at $34,419,000 after acquiring an additional 25,525 shares during the period. Finally, American Century Companies Inc. increased its stake in Banner by 22.0% during the 2nd quarter. American Century Companies Inc. now owns 607,769 shares of the financial services provider's stock worth $30,170,000 after buying an additional 109,457 shares during the period. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Janney Montgomery Scott downgraded Banner from a "buy" rating to a "neutral" rating in a report on Friday, July 19th. Piper Sandler set a $67.00 target price on shares of Banner in a research report on Thursday, October 17th. Stephens restated an "overweight" rating and issued a $53.00 price objective on shares of Banner in a research note on Thursday, July 18th. DA Davidson upped their price objective on Banner from $60.00 to $69.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Finally, Raymond James raised their target price on shares of Banner from $62.00 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Banner presently has a consensus rating of "Hold" and an average price target of $61.60.

Banner Stock Up 1.3 %

NASDAQ:BANR traded up $0.86 during mid-day trading on Friday, hitting $64.90. The company had a trading volume of 186,940 shares, compared to its average volume of 196,405. The firm has a market capitalization of $2.24 billion, a price-to-earnings ratio of 13.58 and a beta of 1.05. The business has a fifty day simple moving average of $60.83 and a 200-day simple moving average of $53.65. Banner Co. has a 1 year low of $41.87 and a 1 year high of $68.11. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30.

Banner (NASDAQ:BANR - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, topping 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 company had revenue of $213.90 million during the quarter, compared to analyst estimates of $152.95 million. During the same period last year, the business earned $1.43 EPS. Equities analysts forecast that Banner Co. will post 4.82 earnings per share for the current fiscal year.

Banner Dividend Announcement

The firm 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 $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Tuesday, November 5th. Banner's dividend payout ratio (DPR) is 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.