Wellington Management Group LLP Lowers Holdings in Banner Co. (NASDAQ:BANR)

Wellington Management Group LLP reduced its position in Banner Co. (NASDAQ:BANR) by 3.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,484 shares of the financial services provider’s stock after selling 5,665 shares during the quarter. Wellington Management Group LLP owned 0.44% of Banner worth $8,167,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. TFO Wealth Partners LLC raised its holdings in shares of Banner by 35,800.0% in the 4th quarter. TFO Wealth Partners LLC now owns 718 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 716 shares in the last quarter. Federated Hermes Inc. bought a new position in shares of Banner in the 3rd quarter worth $45,000. CWM LLC lifted its stake in shares of Banner by 49.9% during the 4th quarter. CWM LLC now owns 1,135 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 378 shares during 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 in 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 Stock Performance

Shares of BANR stock opened at $48.06 on Friday. The business has a fifty day moving average of $46.17 and a 200 day moving average of $47.18. Banner Co. has a 1 year low of $39.31 and a 1 year high of $55.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $1.66 billion, a price-to-earnings ratio of 9.99 and a beta of 1.06.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.05. The firm had revenue of $144.55 million during the quarter, compared to analysts’ expectations of $150.67 million. Banner had a return on equity of 11.47% and a net margin of 21.62%. As a group, research analysts expect that Banner Co. will post 4.72 earnings per share for the current year.

Banner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Stockholders of record on Tuesday, April 30th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.00%. The ex-dividend date of this dividend was Monday, April 29th. Banner’s dividend payout ratio (DPR) is currently 39.92%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on BANR shares. DA Davidson lowered their price target on shares of Banner from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Piper Sandler dropped their target price on Banner from $54.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday, April 19th. Stephens decreased their price target on Banner from $54.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Finally, StockNews.com lowered Banner from a “hold” rating to a “sell” rating in a research note on Saturday, June 8th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price 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.