Invesco Ltd. Acquires 2,637 Shares of Banner Co. (NASDAQ:BANR)

Invesco Ltd. increased its holdings in Banner Co. (NASDAQ:BANR) by 2.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,060 shares of the financial services provider’s stock after buying an additional 2,637 shares during the period. Invesco Ltd. owned 0.39% of Banner worth $8,951,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in BANR. Charles Schwab Investment Management Inc. boosted its position in shares of Banner by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,379,521 shares of the financial services provider’s stock worth $92,111,000 after acquiring an additional 49,457 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Banner during the 4th quarter worth $274,000. William Blair Investment Management LLC boosted its stake in Banner by 10,213.3% in the fourth quarter. William Blair Investment Management LLC now owns 634,579 shares of the financial services provider’s stock valued at $42,371,000 after buying an additional 628,426 shares in the last quarter. JPMorgan Chase & Co. grew its position in Banner by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 409,885 shares of the financial services provider’s stock valued at $24,413,000 after acquiring an additional 29,174 shares during the last quarter. Finally, KBC Group NV raised its stake in Banner by 46.0% during the fourth quarter. KBC Group NV now owns 1,656 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 522 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors.

Banner Stock Up 0.7 %

Shares of NASDAQ:BANR opened at $61.75 on Thursday. The company has a market capitalization of $2.13 billion, a PE ratio of 12.65 and a beta of 0.94. Banner Co. has a 1 year low of $43.63 and a 1 year high of $78.05. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.86 and a quick ratio of 0.85. The business has a fifty day moving average price of $63.27 and a two-hundred day moving average price of $67.08.

Banner (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.23 by $0.06. The business had revenue of $159.88 million during the quarter, compared to the consensus estimate of $159.72 million. Banner had a net margin of 20.28% and a return on equity of 10.03%. During the same quarter last year, the company posted $1.22 earnings per share. Analysts forecast that Banner Co. will post 5.23 earnings per share for the current year.

Banner Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Tuesday, April 29th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $1.92 annualized dividend and a yield of 3.11%. Banner’s payout ratio is 37.72%.

Analyst Ratings Changes

A number of research firms have commented on BANR. Stephens reiterated an “overweight” rating and issued a $73.00 price target on shares of Banner in a research report on Monday. DA Davidson lifted their target price on Banner from $73.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Janney Montgomery Scott upgraded Banner from a “neutral” rating to a “buy” rating and set a $71.00 price target on the stock in a report on Monday. Keefe, Bruyette & Woods cut their target price on shares of Banner from $75.00 to $73.00 and set a “market perform” rating on the stock in a research note on Monday. Finally, Raymond James reaffirmed an “outperform” rating and issued a $65.00 price target (down from $77.00) on shares of Banner in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $70.83.

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.