Principal Financial Group Inc. raised its holdings in Banner Co. (NASDAQ:BANR - Free Report) by 2.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 167,089 shares of the financial services provider's stock after purchasing an additional 4,661 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Banner worth $11,157,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP raised its position in Banner by 12.2% in the third quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider's stock worth $106,334,000 after acquiring an additional 193,434 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Banner by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,330,064 shares of the financial services provider's stock valued at $79,219,000 after purchasing an additional 43,398 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Banner by 79.5% in the third quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider's stock valued at $79,132,000 after purchasing an additional 588,591 shares during the period. Geode Capital Management LLC boosted its holdings in Banner by 1.5% during the third quarter. Geode Capital Management LLC now owns 823,763 shares of the financial services provider's stock worth $49,073,000 after buying an additional 11,808 shares in the last quarter. Finally, abrdn plc grew its position in Banner by 5.0% during the third quarter. abrdn plc now owns 443,072 shares of the financial services provider's stock worth $26,389,000 after buying an additional 20,978 shares during the period. Institutional investors and hedge funds own 87.33% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently commented on BANR shares. DA Davidson boosted their price target on Banner from $73.00 to $76.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Stephens restated an "overweight" rating and set a $82.00 target price on shares of Banner in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods increased their price target on shares of Banner from $69.00 to $81.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. One research 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's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $74.20.
Check Out Our Latest Report on BANR
Banner Trading Down 1.0 %
Shares of BANR traded down $0.70 on Monday, hitting $68.28. 125,953 shares of the stock traded hands, compared to its average volume of 213,451. Banner Co. has a 1 year low of $42.00 and a 1 year high of $78.05. The stock's 50 day moving average is $68.65 and its two-hundred day moving average is $66.23. The firm has a market capitalization of $2.35 billion, a P/E ratio of 13.97 and a beta of 1.09. 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 released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.11. Banner had a return on equity of 10.03% and a net margin of 20.28%. As a group, sell-side analysts predict that Banner Co. will post 5.23 earnings per share for the current year.
Banner Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Tuesday, February 4th. Banner's dividend payout ratio (DPR) is presently 39.34%.
About Banner
(
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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