Zurcher Kantonalbank Zurich Cantonalbank Purchases 1,181 Shares of Banner Co. (NASDAQ:BANR)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Banner Co. (NASDAQ:BANR) by 17.4% during the 4th quarter, Holdings Channel reports. The fund owned 7,976 shares of the financial services provider’s stock after buying an additional 1,181 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Banner were worth $427,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Numerai GP LLC boosted its holdings in Banner by 131.1% in the third quarter. Numerai GP LLC now owns 98,819 shares of the financial services provider’s stock worth $4,188,000 after acquiring an additional 56,067 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in shares of Banner in the third quarter worth approximately $836,000. Vanguard Group Inc. raised 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 during the last quarter. Victory Capital Management Inc. raised its stake in shares of Banner by 950.6% in the third quarter. Victory Capital Management Inc. now owns 184,833 shares of the financial services provider’s stock worth $7,833,000 after purchasing an additional 167,240 shares during the last quarter. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of Banner in the fourth quarter worth approximately $921,000. Institutional investors own 87.33% of the company’s stock.

Banner Stock Performance

Shares of BANR opened at $46.24 on Friday. 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 stock has a 50 day moving average of $45.44 and a 200 day moving average of $46.56. Banner Co. has a 12 month low of $39.31 and a 12 month high of $55.66. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of 9.61 and a beta of 1.04.

Banner Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Tuesday, April 30th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Monday, April 29th. Banner’s dividend payout ratio is currently 39.92%.

Analyst Upgrades and Downgrades

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

About Banner

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.