Principal Financial Group Inc. Boosts Holdings in Banner Co. (NASDAQ:BANR)

Principal Financial Group Inc. boosted its stake in Banner Co. (NASDAQ:BANR) by 2.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 167,089 shares of the financial services provider’s stock after acquiring an additional 4,661 shares during the period. Principal Financial Group Inc. owned 0.48% of Banner worth $11,157,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BANR. USA Financial Formulas bought a new stake in shares of Banner in the 4th quarter worth approximately $32,000. Financial Life Planners bought a new stake in shares of Banner in the fourth quarter valued at $32,000. US Bancorp DE lifted its position in shares of Banner by 287.1% during the 3rd quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock valued at $86,000 after buying an additional 1,065 shares during the last quarter. KBC Group NV lifted its position in shares of Banner by 46.0% during the 4th quarter. KBC Group NV now owns 1,656 shares of the financial services provider’s stock valued at $111,000 after buying an additional 522 shares during the last quarter. Finally, Clear Creek Financial Management LLC bought a new position in shares of Banner during the 3rd quarter worth $209,000. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Banner Trading Up 0.5 %

Shares of BANR opened at $68.27 on Friday. Banner Co. has a twelve month low of $42.00 and a twelve month high of $78.05. The stock has a market cap of $2.35 billion, a PE ratio of 13.99 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. The business’s 50-day moving average price is $68.58 and its 200-day moving average price is $65.95.

Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.11. Banner had a net margin of 20.28% and a return on equity of 10.03%. On average, equities analysts forecast that Banner Co. will post 5.23 EPS for the current fiscal year.

Banner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.81%. The ex-dividend date was Tuesday, February 4th. Banner’s dividend payout ratio is 39.34%.

Wall Street Analyst Weigh In

BANR has been the topic of several recent research reports. DA Davidson upped their price objective on shares of Banner from $73.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Stephens restated an “overweight” rating and set a $82.00 price target on shares of Banner in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Banner presently has an average rating of “Hold” and an average price target of $74.20.

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.