Wellington Management Group LLP Purchases 193,434 Shares of Banner Co. (NASDAQ:BANR)

Wellington Management Group LLP lifted its holdings in Banner Co. (NASDAQ:BANR - Free Report) by 12.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,785,319 shares of the financial services provider's stock after acquiring an additional 193,434 shares during the period. Wellington Management Group LLP owned approximately 5.18% of Banner worth $106,334,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of BANR. Victory Capital Management Inc. raised its stake in shares of Banner by 79.5% in the 3rd 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 in the last quarter. FMR LLC grew its stake in shares of Banner by 395.4% in 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. The Manufacturers Life Insurance Company boosted its stake in shares of Banner by 18.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 795,929 shares of the financial services provider's stock worth $39,510,000 after acquiring an additional 123,903 shares in the last quarter. American Century Companies Inc. raised its holdings 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. Finally, Eagle Asset Management Inc. purchased a new position in shares of Banner in the third quarter worth approximately $6,477,000. Institutional investors and hedge funds own 87.33% of the company's stock.

Wall Street Analysts Forecast Growth

BANR has been the topic of a number of recent research reports. DA Davidson boosted their target price on Banner from $60.00 to $69.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods boosted their price objective on Banner from $69.00 to $81.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Raymond James lifted their price objective on Banner from $62.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, October 2nd. Finally, Piper Sandler set a $67.00 price target on shares of Banner in a research note on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $67.00.

Banner Trading Down 0.7 %

NASDAQ BANR traded down $0.52 on Tuesday, hitting $73.26. The company's stock had a trading volume of 176,237 shares, compared to its average volume of 197,530. The firm has a market cap of $2.52 billion, a PE ratio of 15.50 and a beta of 1.07. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. Banner Co. has a 1-year low of $42.00 and a 1-year high of $78.05. The company's 50-day moving average is $68.40 and its 200 day moving average is $58.85.

Banner (NASDAQ:BANR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.12. Banner had a net margin of 20.28% and a return on equity of 10.22%. The business had revenue of $213.90 million during the quarter, compared to analysts' expectations of $152.95 million. During the same period last year, the company posted $1.43 earnings per share. As a group, analysts predict that Banner Co. will post 4.88 earnings per share for the current fiscal year.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend was Tuesday, November 5th. Banner's dividend payout ratio is 40.17%.

Insider Activity

In other news, VP James P.G. Mclean sold 1,500 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total transaction of $113,445.00. Following the sale, the vice president now owns 21,868 shares in the company, valued at approximately $1,653,876.84. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.60% of the company's stock.

Banner Company 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.