Raymond James & Associates Purchases 2,661 Shares of Banner Co. (NASDAQ:BANR)

Raymond James & Associates boosted its holdings in shares of Banner Co. (NASDAQ:BANR) by 19.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 16,136 shares of the financial services provider’s stock after buying an additional 2,661 shares during the period. Raymond James & Associates’ holdings in Banner were worth $864,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Carmel Capital Partners LLC purchased a new stake in shares of Banner in the 3rd quarter valued at about $25,000. CWM LLC lifted its position in Banner by 923.0% during the third quarter. CWM LLC now owns 757 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 683 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in Banner in the 3rd quarter worth approximately $34,000. Federated Hermes Inc. bought a new position in shares of Banner in the 3rd quarter worth $45,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Banner by 47.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,795 shares of the financial services provider’s stock valued at $288,000 after buying an additional 2,184 shares in the last quarter. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler reduced their target price on Banner from $54.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday. Stephens lowered their price objective on shares of Banner from $54.00 to $53.00 and set an “overweight” rating for the company in a report on Friday. Raymond James increased their target price on shares of Banner from $47.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. DA Davidson decreased their target price on shares of Banner from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday. Finally, Keefe, Bruyette & Woods cut their price target on shares of Banner from $58.00 to $54.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $51.20.

Banner Stock Performance

Banner stock opened at $45.22 on Tuesday. Banner Co. has a 1-year low of $39.31 and a 1-year high of $55.66. The firm has a market cap of $1.55 billion, a P/E ratio of 9.40 and a beta of 1.03. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. The firm has a 50-day moving average of $45.36 and a 200-day moving average of $46.54.

Banner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Tuesday, April 30th will be given a $0.48 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.25%. Banner’s dividend payout ratio is currently 39.92%.

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.