Vanguard Group Inc. Purchases 40,988 Shares of Banner Co. (NASDAQ:BANR)

Vanguard Group Inc. grew its position in Banner Co. (NASDAQ:BANR) by 1.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,187,837 shares of the financial services provider’s stock after buying an additional 40,988 shares during the period. Vanguard Group Inc. owned 12.19% of Banner worth $224,301,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Federated Hermes Inc. acquired a new stake in Banner in the third quarter valued at approximately $45,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Banner during the 3rd quarter worth $836,000. Qube Research & Technologies Ltd increased its position in Banner by 11.8% during the 3rd quarter. Qube Research & Technologies Ltd now owns 55,334 shares of the financial services provider’s stock valued at $2,345,000 after buying an additional 5,827 shares in the last quarter. Diversified Trust Co raised its stake in Banner by 4.2% in the third quarter. Diversified Trust Co now owns 8,649 shares of the financial services provider’s stock valued at $367,000 after buying an additional 352 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Banner by 13.5% in the third quarter. American Century Companies Inc. now owns 315,039 shares of the financial services provider’s stock worth $13,351,000 after acquiring an additional 37,543 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors.

Banner Stock Down 0.8 %

NASDAQ:BANR opened at $49.22 on Tuesday. The firm has a market capitalization of $1.70 billion, a P/E ratio of 10.23 and a beta of 1.06. The company’s fifty day moving average price is $46.34 and its 200-day moving average price is $47.10. 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.

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

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Tuesday, April 30th were given a $0.48 dividend. The ex-dividend date was Monday, April 29th. This represents a $1.92 annualized dividend and a yield of 3.90%. Banner’s dividend payout ratio is presently 39.92%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on BANR shares. StockNews.com downgraded shares of Banner from a “hold” rating to a “sell” rating in a report on Saturday, June 8th. Piper Sandler decreased their price target on shares of Banner from $54.00 to $51.00 and set an “overweight” rating for the company in a report on Friday, April 19th. DA Davidson dropped their price objective 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. Finally, Stephens reduced their target price on Banner from $54.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $51.20.

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.