US Bancorp DE Grows Stock Holdings in Banner Co. (NASDAQ:BANR)

US Bancorp DE grew its holdings in shares of Banner Co. (NASDAQ:BANR) by 287.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,436 shares of the financial services provider’s stock after purchasing an additional 1,065 shares during the quarter. US Bancorp DE’s holdings in Banner were worth $86,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. abrdn plc lifted its position in Banner by 5.0% during the third quarter. abrdn plc now owns 443,072 shares of the financial services provider’s stock worth $26,389,000 after buying an additional 20,978 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Banner by 12.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,006 shares of the financial services provider’s stock worth $1,236,000 after acquiring an additional 2,310 shares during the period. Mount Yale Investment Advisors LLC boosted its position in shares of Banner by 18.4% in the third quarter. Mount Yale Investment Advisors LLC now owns 5,641 shares of the financial services provider’s stock worth $336,000 after acquiring an additional 875 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Banner by 21.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 176,137 shares of the financial services provider’s stock valued at $10,491,000 after purchasing an additional 31,328 shares during the period. Finally, CWM LLC increased its position in Banner by 19.5% during the third quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 371 shares during the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BANR. DA Davidson upped their price objective on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Piper Sandler set a $67.00 price objective on Banner in a report on Thursday, October 17th. Finally, Raymond James lifted their price objective on Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $61.60.

Banner Price Performance

Shares of NASDAQ BANR opened at $73.52 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84. Banner Co. has a 1-year low of $42.00 and a 1-year high of $77.01. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 15.38 and a beta of 1.04. The business has a 50-day moving average of $63.43 and a 200-day moving average of $55.62.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.18 by $0.12. The company had revenue of $213.90 million during the quarter, compared to analysts’ expectations of $152.95 million. Banner had a return on equity of 10.22% and a net margin of 20.28%. During the same period in the prior year, the business posted $1.43 EPS. On average, equities analysts anticipate that Banner Co. will post 4.88 EPS for the current fiscal year.

Banner Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.61%. The ex-dividend date was Tuesday, November 5th. Banner’s dividend payout ratio is presently 40.17%.

Insider Activity

In related news, VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total transaction of $113,445.00. Following the transaction, the vice president now directly owns 21,868 shares of the company’s stock, valued at $1,653,876.84. The trade was a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.60% of the company’s stock.

Banner Company 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.