Banner Co. (NASDAQ:BANR) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. raised its stake in Banner Co. (NASDAQ:BANR) by 3.4% in the third quarter, HoldingsChannel.com reports. The fund owned 1,330,064 shares of the financial services provider’s stock after purchasing an additional 43,398 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Banner were worth $79,219,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Boston Partners purchased a new position in Banner in the 1st quarter valued at about $1,025,000. Westwood Holdings Group Inc. lifted its stake in shares of Banner by 3.7% during the first quarter. Westwood Holdings Group Inc. now owns 717,058 shares of the financial services provider’s stock valued at $34,419,000 after buying an additional 25,525 shares during the period. Versor Investments LP acquired a new stake in Banner during the third quarter worth approximately $439,000. Panagora Asset Management Inc. grew its stake in Banner by 2.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 203,759 shares of the financial services provider’s stock worth $10,115,000 after acquiring an additional 5,380 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Banner by 79.5% in 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 acquiring an additional 588,591 shares during the last quarter. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP James P.G. Mclean sold 1,500 shares of the business’s stock in a transaction that occurred on 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 approximately $1,653,876.84. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by corporate insiders.

Banner Price Performance

BANR stock opened at $75.27 on Thursday. The stock has a 50-day moving average price of $66.10 and a two-hundred day moving average price of $57.20. The company has a market cap of $2.59 billion, a PE ratio of 15.75 and a beta of 1.04. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. Banner Co. has a 12-month low of $42.00 and a 12-month high of $78.05.

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

Banner Announces Dividend

The firm also recently announced 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 annualized dividend and a dividend yield of 2.55%. Banner’s payout ratio is 40.17%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Raymond James raised their price objective on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Piper Sandler set a $67.00 price target on Banner in a research note on Thursday, October 17th. Finally, 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. 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.60.

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.