Raymond James & Associates grew its holdings in shares of Banner Co. (NASDAQ:BANR – Free Report) by 13.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,564 shares of the financial services provider’s stock after purchasing an additional 1,485 shares during the period. Raymond James & Associates’ holdings in Banner were worth $549,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors also recently made changes to their positions in BANR. Allspring Global Investments Holdings LLC boosted its holdings in shares of Banner by 16.0% in the second quarter. Allspring Global Investments Holdings LLC now owns 154,544 shares of the financial services provider’s stock worth $6,749,000 after buying an additional 21,310 shares during the period. Cascade Investment Advisors Inc. grew its stake in shares of Banner by 4.6% in the second quarter. Cascade Investment Advisors Inc. now owns 18,545 shares of the financial services provider’s stock worth $810,000 after acquiring an additional 815 shares during the last quarter. Caldwell Sutter Capital Inc. grew its stake in shares of Banner by 2,882.7% in the second quarter. Caldwell Sutter Capital Inc. now owns 36,687 shares of the financial services provider’s stock worth $1,602,000 after acquiring an additional 35,457 shares during the last quarter. Denali Advisors LLC acquired a new stake in Banner during the second quarter worth $651,000. Finally, Louisiana State Employees Retirement System boosted its stake in Banner by 13.2% during the second quarter. Louisiana State Employees Retirement System now owns 18,000 shares of the financial services provider’s stock worth $786,000 after buying an additional 2,100 shares in the last quarter. Institutional investors own 84.88% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on BANR shares. Raymond James cut their price target on Banner from $50.00 to $47.00 and set an “outperform” rating for the company in a report on Friday, October 20th. StockNews.com began coverage on Banner in a research report on Thursday, October 5th. They issued a “sell” rating for the company. Finally, Stephens decreased their price objective on Banner from $54.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, October 20th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $56.75.
Banner Stock Performance
NASDAQ:BANR opened at $43.79 on Wednesday. The stock’s 50-day simple moving average is $42.87 and its 200 day simple moving average is $44.76. The firm has a market capitalization of $1.50 billion, a PE ratio of 7.72 and a beta of 1.01. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.32. Banner Co. has a twelve month low of $39.31 and a twelve month high of $73.04.
Banner Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, November 13th. Investors of record on Friday, November 3rd will be issued a dividend of $0.48 per share. The ex-dividend date is Thursday, November 2nd. This represents a $1.92 annualized dividend and a yield of 4.38%. Banner’s dividend payout ratio (DPR) is currently 33.86%.
Banner Corporation operates as the bank holding company for Banner Bank that provide 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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