Bank of Montreal Can Increases Holdings in Banner Co. (NASDAQ:BANR)

Bank of Montreal Can lifted its holdings in Banner Co. (NASDAQ:BANR) by 9.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,792 shares of the financial services provider’s stock after acquiring an additional 330 shares during the period. Bank of Montreal Can’s holdings in Banner were worth $253,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in BANR. USA Financial Formulas bought a new position in Banner in the 4th quarter worth approximately $32,000. Financial Life Planners purchased a new position in shares of Banner in the fourth quarter worth $32,000. Smartleaf Asset Management LLC boosted its position in shares of Banner by 167.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 705 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 441 shares during the last quarter. KBC Group NV grew 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 valued at $111,000 after acquiring an additional 522 shares in the last quarter. Finally, US Bancorp DE increased its holdings in Banner by 21.8% in the 4th quarter. US Bancorp DE now owns 1,749 shares of the financial services provider’s stock valued at $117,000 after acquiring an additional 313 shares during the last quarter. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Banner Stock Performance

NASDAQ:BANR opened at $62.26 on Friday. The firm has a market capitalization of $2.15 billion, a PE ratio of 12.76 and a beta of 0.94. The stock’s fifty day moving average is $63.14 and its 200 day moving average is $67.11. Banner Co. has a fifty-two week low of $43.63 and a fifty-two week high of $78.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.86.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.06. The firm had revenue of $159.88 million during the quarter, compared to analyst estimates 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 business earned $1.22 EPS. On average, sell-side analysts anticipate that Banner Co. will post 5.23 earnings per share for the current year.

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Tuesday, April 29th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $1.92 annualized dividend and a dividend yield of 3.08%. Banner’s dividend payout ratio (DPR) is presently 37.72%.

Analyst Ratings Changes

BANR has been the subject of several research reports. Keefe, Bruyette & Woods dropped their price objective on shares of Banner from $75.00 to $73.00 and set a “market perform” rating for the company in a report on Monday. Janney Montgomery Scott upgraded Banner from a “neutral” rating to a “buy” rating and set a $71.00 price target for the company in a report on Monday. DA Davidson upped their price objective on Banner from $73.00 to $76.00 and gave the stock a “neutral” rating in a report on Friday, January 24th. Stephens reiterated an “overweight” rating and set a $73.00 target price on shares of Banner in a research report on Monday. Finally, Raymond James restated an “outperform” rating and issued a $65.00 price target (down previously from $77.00) on shares of Banner in a research report on Monday. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $70.83.

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.