First Trust Advisors LP increased its holdings in shares of Banner Co. (NASDAQ:BANR) by 164.8% in the fourth quarter, Holdings Channel reports. The firm owned 109,972 shares of the financial services provider’s stock after buying an additional 68,436 shares during the period. First Trust Advisors LP’s holdings in Banner were worth $5,124,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of BANR. Victory Capital Management Inc. increased its position in shares of Banner by 20.2% during the 4th quarter. Victory Capital Management Inc. now owns 676,121 shares of the financial services provider’s stock worth $31,501,000 after purchasing an additional 113,546 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Banner by 7.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 577,978 shares of the financial services provider’s stock valued at $18,646,000 after acquiring an additional 42,186 shares during the period. New York State Common Retirement Fund boosted its holdings in Banner by 14.0% during the 3rd quarter. New York State Common Retirement Fund now owns 223,953 shares of the financial services provider’s stock valued at $7,225,000 after acquiring an additional 27,558 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Banner by 30.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 103,828 shares of the financial services provider’s stock valued at $3,349,000 after acquiring an additional 24,143 shares during the period. Finally, HoldCo Asset Management L.P. purchased a new position in Banner during the 4th quarter valued at about $1,020,000. 82.52% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently commented on BANR. Zacks Investment Research upgraded Banner from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Wednesday, January 27th. TheStreet upgraded Banner from a “c+” rating to a “b” rating in a report on Tuesday, November 3rd. Janney Montgomery Scott cut Banner from a “buy” rating to a “neutral” rating and set a $55.00 target price for the company. in a report on Monday, January 25th. Raymond James lifted their price objective on Banner from $42.00 to $57.00 and gave the company an “outperform” rating in a research note on Monday, January 25th. Finally, Piper Sandler upgraded Banner from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $41.00 to $50.00 in a research note on Thursday, December 3rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Banner has a consensus rating of “Buy” and an average target price of $54.25.
Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, January 20th. The financial services provider reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.18. Banner had a return on equity of 7.38% and a net margin of 17.88%. Analysts predict that Banner Co. will post 3.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, February 16th. Investors of record on Thursday, February 4th were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 3.19%. The ex-dividend date was Wednesday, February 3rd. Banner’s payout ratio is 37.44%.
Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank that provide commercial banking and financial products and services to individuals, businesses, and public sector entities primarily in the United States. It offers deposit products, 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.
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