New York State Common Retirement Fund Has $1.90 Million Holdings in Banner Co. (NASDAQ:BANR)

New York State Common Retirement Fund grew its holdings in Banner Co. (NASDAQ:BANR) by 18.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,495 shares of the financial services provider’s stock after purchasing an additional 5,419 shares during the period. New York State Common Retirement Fund’s holdings in Banner were worth $1,901,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in BANR. Carmel Capital Partners LLC purchased a new position in Banner during the third quarter valued at approximately $25,000. Federated Hermes Inc. acquired a new position in shares of Banner in the third quarter worth $45,000. CWM LLC raised its holdings in shares of Banner by 49.9% during the fourth quarter. CWM LLC now owns 1,135 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 378 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Banner by 19.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,535 shares of the financial services provider’s stock valued at $82,000 after purchasing an additional 245 shares during the last quarter. Finally, TRUE Private Wealth Advisors purchased a new position in Banner in the fourth quarter valued at about $215,000. 87.33% of the stock is owned by hedge funds and other institutional investors.

Banner Trading Up 1.0 %

NASDAQ:BANR opened at $46.67 on Thursday. The company’s 50 day moving average is $45.57 and its 200-day moving average is $46.69. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.24. Banner Co. has a 12 month low of $39.31 and a 12 month high of $55.66. The firm has a market cap of $1.60 billion, a price-to-earnings ratio of 9.70 and a beta of 1.04.

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Tuesday, April 30th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.92 annualized dividend and a yield of 4.11%. Banner’s dividend payout ratio (DPR) is presently 39.92%.

Analysts Set New Price Targets

A number of research firms have recently weighed in on BANR. Keefe, Bruyette & Woods cut their price target 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. Piper Sandler cut their price objective on shares of Banner from $54.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. DA Davidson decreased their target price on shares of Banner from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Stephens dropped their price target on shares of Banner from $54.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Finally, Raymond James upped their price objective on shares of Banner from $47.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.