Allspring Global Investments Holdings LLC Buys 31,328 Shares of Banner Co. (NASDAQ:BANR)

Allspring Global Investments Holdings LLC lifted its stake in Banner Co. (NASDAQ:BANR) by 21.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 176,137 shares of the financial services provider’s stock after buying an additional 31,328 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Banner were worth $10,491,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. EntryPoint Capital LLC lifted its position in shares of Banner by 100.9% in the 1st quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 558 shares during the period. Innealta Capital LLC bought a new position in Banner in the second quarter worth $53,000. CWM LLC increased its holdings in Banner by 60.1% in the 2nd quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock valued at $94,000 after buying an additional 715 shares during the period. Quest Partners LLC acquired a new position in shares of Banner in the 2nd quarter valued at $152,000. Finally, SG Americas Securities LLC bought a new position in shares of Banner during the 1st quarter worth about $202,000. 87.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Janney Montgomery Scott lowered shares of Banner from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. DA Davidson raised their target price on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Stephens reiterated an “overweight” rating and issued a $53.00 price target on shares of Banner in a research report on Thursday, July 18th. Piper Sandler set a $67.00 price objective on Banner in a report on Thursday, October 17th. Finally, Raymond James upped their target price on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Banner presently has a consensus rating of “Hold” and an average target price of $61.60.

Banner Price Performance

Banner stock opened at $63.21 on Friday. Banner Co. has a 52 week low of $40.36 and a 52 week high of $68.11. The firm has a market cap of $2.18 billion, a P/E ratio of 13.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85. The business’s fifty day moving average is $60.04 and its two-hundred day moving average is $52.99.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.12. Banner had a net margin of 20.28% and a return on equity of 10.22%. The firm had revenue of $213.90 million for the quarter, compared to analyst estimates of $152.95 million. During the same quarter in the prior year, the firm earned $1.43 EPS. Equities research analysts forecast that Banner Co. will post 4.82 earnings per share for the current fiscal year.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Tuesday, November 5th. Banner’s dividend payout ratio (DPR) is presently 40.17%.

About Banner

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.