Wellington Management Group LLP increased its stake in Banner Co. (NASDAQ:BANR - Free Report) by 12.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,785,319 shares of the financial services provider's stock after purchasing an additional 193,434 shares during the quarter. Wellington Management Group LLP owned approximately 5.18% of Banner worth $106,334,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Innealta Capital LLC acquired a new stake in shares of Banner in the second quarter worth $53,000. US Bancorp DE lifted its position in Banner by 287.1% during the 3rd quarter. US Bancorp DE now owns 1,436 shares of the financial services provider's stock worth $86,000 after acquiring an additional 1,065 shares during the last quarter. CWM LLC boosted its holdings in Banner by 60.1% during the second quarter. CWM LLC now owns 1,904 shares of the financial services provider's stock valued at $94,000 after acquiring an additional 715 shares during the period. Quest Partners LLC acquired a new stake in shares of Banner in the second quarter valued at about $152,000. Finally, Clear Creek Financial Management LLC acquired a new stake in shares of Banner in the third quarter valued at about $209,000. Institutional investors own 87.33% of the company's stock.
Several analysts recently weighed in on BANR shares. Keefe, Bruyette & Woods increased their target price 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 increased their price objective on Banner from $62.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. Piper Sandler set a $67.00 target price on shares of Banner in a research note on Thursday, October 17th. Finally, DA Davidson raised their price target 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat, Banner has a consensus rating of "Hold" and a consensus price target of $67.00.
View Our Latest Stock Report on Banner
BANR opened at $73.78 on Tuesday. The company has a market capitalization of $2.54 billion, a P/E ratio of 15.44 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's fifty day moving average price is $68.11 and its two-hundred day moving average price is $58.65. Banner Co. has a fifty-two week low of $42.00 and a fifty-two week high of $78.05.
Banner (NASDAQ:BANR - Get Free Report) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.12. The business had revenue of $213.90 million for the quarter, compared to analyst estimates 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 previous year, the business earned $1.43 EPS. On average, analysts anticipate that Banner Co. will post 4.88 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given 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 2.60%. Banner's dividend payout ratio (DPR) is presently 40.17%.
In related news, VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total transaction of $113,445.00. Following the completion of the transaction, the vice president now directly owns 21,868 shares of the company's stock, valued at $1,653,876.84. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is owned by insiders.
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.
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