Banner Co. (NASDAQ:BANR) Shares Purchased by Barclays PLC

Barclays PLC raised its position in Banner Co. (NASDAQ:BANR) by 97.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,768 shares of the financial services provider’s stock after purchasing an additional 37,390 shares during the quarter. Barclays PLC owned about 0.22% of Banner worth $4,512,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Foundry Partners LLC lifted its holdings in Banner by 2.3% in the third quarter. Foundry Partners LLC now owns 6,194 shares of the financial services provider’s stock valued at $369,000 after acquiring an additional 137 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Banner by 3.0% in the 3rd quarter. Captrust Financial Advisors now owns 5,443 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 160 shares during the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of 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 purchasing an additional 300 shares during the period. CWM LLC increased its position in shares of 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 purchasing an additional 371 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. raised its holdings in 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 buying an additional 700 shares during the period. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Analysts Set New Price Targets

BANR has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their target price on shares of Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson increased their price objective on shares of Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Raymond James boosted their target price on Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler set a $67.00 price target on Banner in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.00.

Banner Price Performance

Banner stock opened at $65.80 on Friday. The company’s 50 day moving average is $70.24 and its two-hundred day moving average is $60.25. The firm has a market cap of $2.27 billion, a PE ratio of 13.77 and a beta of 1.07. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. Banner Co. has a 52-week low of $42.00 and a 52-week high of $78.05.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.12. Banner had a return on equity of 10.22% and a net margin of 20.28%. The firm had revenue of $213.90 million during the quarter, compared to analyst estimates of $152.95 million. During the same period last year, the business posted $1.43 earnings per share. On average, research analysts expect that Banner Co. will post 4.88 EPS for the current fiscal year.

Banner Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a dividend of $0.48 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.92%. Banner’s payout ratio is 40.17%.

Insider Activity at Banner

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total value of $113,445.00. Following the sale, the vice president now directly owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. This represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 1.60% of the stock is owned by corporate insiders.

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.