Geode Capital Management LLC Has $49.07 Million Holdings in Banner Co. (NASDAQ:BANR)

Geode Capital Management LLC lifted its stake in Banner Co. (NASDAQ:BANR) by 1.5% in the third quarter, HoldingsChannel reports. The institutional investor owned 823,763 shares of the financial services provider’s stock after buying an additional 11,808 shares during the quarter. Geode Capital Management LLC’s holdings in Banner were worth $49,073,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of BANR. Foundry Partners LLC boosted its position in Banner by 2.3% in the 3rd quarter. Foundry Partners LLC now owns 6,194 shares of the financial services provider’s stock valued at $369,000 after buying an additional 137 shares during the last quarter. Captrust Financial Advisors raised its stake in Banner by 3.0% during the 3rd quarter. Captrust Financial Advisors now owns 5,443 shares of the financial services provider’s stock worth $324,000 after buying an additional 160 shares during the period. Louisiana State Employees Retirement System raised its stake in Banner by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the financial services provider’s stock worth $859,000 after buying an additional 300 shares during the period. CWM LLC raised its stake in Banner by 19.5% during the 3rd quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock worth $136,000 after buying an additional 371 shares during the period. Finally, Rosenthal Henry Capital Advisors Inc. raised its stake in shares of Banner by 2.2% in the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 33,133 shares of the financial services provider’s stock valued at $1,973,000 after purchasing an additional 700 shares during the period. 87.33% of the stock is currently owned by institutional investors.

Banner Stock Up 0.9 %

Shares of BANR opened at $66.41 on Tuesday. Banner Co. has a one year low of $42.00 and a one year high of $78.05. The company has a market cap of $2.29 billion, a P/E ratio of 13.89 and a beta of 1.07. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84. The firm has a 50 day simple moving average of $70.24 and a two-hundred day simple moving average of $60.35.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.12. The company 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 period in the prior year, the business earned $1.43 earnings per share. Research analysts forecast that Banner Co. will post 4.88 EPS for the current fiscal year.

Banner Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.92 annualized dividend and a dividend yield of 2.89%. Banner’s dividend payout ratio is 40.17%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BANR shares. Keefe, Bruyette & Woods lifted their price target on Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Raymond James boosted 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 objective on Banner in a report on Thursday, October 17th. Finally, DA Davidson lifted their price target on shares of Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $67.00.

Insider Buying and Selling

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total transaction of $113,445.00. Following the sale, the vice president now owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.60% of the stock is currently owned by insiders.

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.