JPMorgan Chase & Co. Buys 29,174 Shares of Banner Co. (NASDAQ:BANR)

JPMorgan Chase & Co. raised its stake in shares of Banner Co. (NASDAQ:BANR) by 7.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 409,885 shares of the financial services provider’s stock after purchasing an additional 29,174 shares during the quarter. JPMorgan Chase & Co. owned 1.19% of Banner worth $24,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Charles Schwab Investment Management Inc. lifted its holdings in shares of Banner by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,330,064 shares of the financial services provider’s stock worth $79,219,000 after acquiring an additional 43,398 shares during the last quarter. Geode Capital Management LLC raised its position in Banner by 1.5% during the third quarter. Geode Capital Management LLC now owns 823,763 shares of the financial services provider’s stock valued at $49,073,000 after purchasing an additional 11,808 shares in the last quarter. Versor Investments LP bought a new stake in Banner during the third quarter worth about $439,000. Wellington Management Group LLP boosted its holdings in shares of Banner by 12.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock worth $106,334,000 after purchasing an additional 193,434 shares in the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Banner by 79.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock valued at $79,132,000 after purchasing an additional 588,591 shares during the last quarter. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Insider Buying and Selling at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total value of $113,445.00. Following the sale, the vice president now owns 21,868 shares in the company, 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 SEC, which is available at this link. 1.60% of the stock is currently owned by corporate insiders.

Banner Stock Performance

NASDAQ:BANR opened at $66.83 on Thursday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85. Banner Co. has a fifty-two week low of $42.00 and a fifty-two week high of $78.05. The business has a 50 day moving average price of $70.68 and a 200-day moving average price of $62.11. The firm has a market cap of $2.30 billion, a PE ratio of 13.98 and a beta of 1.09.

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

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a yield of 2.87%. Banner’s dividend payout ratio is presently 40.17%.

Wall Street Analysts Forecast Growth

BANR has been the subject of a number of recent research reports. Piper Sandler set a $67.00 target price on Banner in a research report on Thursday, October 17th. Raymond James boosted their price objective on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. DA Davidson upped their price objective on shares of Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Banner currently has an average rating of “Hold” and an average price target of $67.00.

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.