Diversified Trust Co Increases Holdings in Banner Co. (NASDAQ:BANR)

Diversified Trust Co grew its holdings in shares of Banner Co. (NASDAQ:BANR) by 9.6% in the 4th quarter, HoldingsChannel reports. The firm owned 11,211 shares of the financial services provider’s stock after acquiring an additional 978 shares during the quarter. Diversified Trust Co’s holdings in Banner were worth $749,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the business. JPMorgan Chase & Co. increased its position in shares of Banner by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 409,885 shares of the financial services provider’s stock valued at $24,413,000 after purchasing an additional 29,174 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Banner by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 823,763 shares of the financial services provider’s stock worth $49,073,000 after acquiring an additional 11,808 shares during the period. Barclays PLC grew its stake in shares of Banner by 97.4% during the 3rd quarter. Barclays PLC now owns 75,768 shares of the financial services provider’s stock worth $4,512,000 after acquiring an additional 37,390 shares during the period. Wellington Management Group LLP grew its stake in shares of Banner by 12.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock worth $106,334,000 after acquiring an additional 193,434 shares during the period. Finally, Systematic Financial Management LP bought a new position in shares of Banner during the 3rd quarter worth $554,000. 87.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Banner Trading Up 0.2 %

Banner stock opened at $66.83 on Friday. The stock has a market cap of $2.30 billion, a P/E ratio of 13.98 and a beta of 1.09. Banner Co. has a fifty-two week low of $42.00 and a fifty-two week high of $78.05. The firm’s fifty day moving average price is $70.74 and its 200-day moving average price is $62.15. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85.

Banner (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.12. The firm had revenue of $213.90 million for the quarter, compared to analysts’ expectations 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 firm posted $1.43 earnings per share. Equities research analysts forecast that Banner Co. will post 4.88 earnings per share for the current fiscal year.

Banner Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a $0.48 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.92 annualized dividend and a dividend yield of 2.87%. Banner’s payout ratio is currently 40.17%.

Insider Transactions at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total value of $113,445.00. Following the transaction, the vice president now owns 21,868 shares of the company’s stock, valued at $1,653,876.84. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

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.