J.W. Cole Advisors Inc. Invests $354,000 in Banner Co. (NASDAQ:BANR)

J.W. Cole Advisors Inc. acquired a new position in Banner Co. (NASDAQ:BANR) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 6,602 shares of the financial services provider’s stock, valued at approximately $354,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in shares of Banner by 0.9% in the third quarter. Vanguard Group Inc. now owns 4,146,849 shares of the financial services provider’s stock worth $175,743,000 after purchasing an additional 36,850 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Banner by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 966,979 shares of the financial services provider’s stock valued at $40,981,000 after acquiring an additional 42,871 shares in the last quarter. American Century Companies Inc. grew its stake in Banner by 13.5% during the third quarter. American Century Companies Inc. now owns 315,039 shares of the financial services provider’s stock valued at $13,351,000 after acquiring an additional 37,543 shares in the last quarter. Victory Capital Management Inc. grew its stake in Banner by 950.6% during the third quarter. Victory Capital Management Inc. now owns 184,833 shares of the financial services provider’s stock valued at $7,833,000 after acquiring an additional 167,240 shares in the last quarter. Finally, Mutual of America Capital Management LLC grew its stake in Banner by 1.9% during the third quarter. Mutual of America Capital Management LLC now owns 143,387 shares of the financial services provider’s stock valued at $6,077,000 after acquiring an additional 2,720 shares in the last quarter. 87.33% of the stock is owned by hedge funds and other institutional investors.

Banner Price Performance

BANR stock opened at $46.15 on Thursday. Banner Co. has a 52 week low of $39.31 and a 52 week high of $55.66. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $45.46 and a two-hundred day simple moving average of $46.55. The firm has a market capitalization of $1.59 billion, a P/E ratio of 9.59 and a beta of 1.03.

Banner Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Tuesday, April 30th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.92 annualized dividend and a yield of 4.16%. Banner’s dividend payout ratio (DPR) is currently 39.92%.

Analyst Ratings Changes

BANR has been the subject of several research analyst reports. DA Davidson cut their target price on shares of Banner from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday, April 19th. Raymond James raised their target price on shares of Banner from $47.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Keefe, Bruyette & Woods cut their target price on shares of Banner from $58.00 to $54.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Stephens cut their target price on shares of Banner from $54.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Finally, Piper Sandler cut their target price on shares of Banner from $54.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Banner has an average rating of “Moderate Buy” and an average price target of $51.20.

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.