Dark Forest Capital Management LP purchased a new stake in Banner Co. (NASDAQ:BANR - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,593 shares of the financial services provider's stock, valued at approximately $373,000.
Other hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Banner by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,379,521 shares of the financial services provider's stock valued at $92,111,000 after acquiring an additional 49,457 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Banner in the 4th quarter valued at about $274,000. Sterling Capital Management LLC grew its position in shares of Banner by 816.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock worth $72,000 after purchasing an additional 964 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Banner by 10,213.3% during the fourth quarter. William Blair Investment Management LLC now owns 634,579 shares of the financial services provider's stock worth $42,371,000 after purchasing an additional 628,426 shares during the period. Finally, JPMorgan Chase & Co. raised its position in shares of Banner by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 409,885 shares of the financial services provider's stock valued at $24,413,000 after buying an additional 29,174 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research firms have commented on BANR. Stephens restated an "overweight" rating and set a $73.00 price objective on shares of Banner in a research note on Monday, April 21st. DA Davidson raised their price target on Banner from $73.00 to $76.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. StockNews.com raised shares of Banner from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Janney Montgomery Scott raised shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 target price on the stock in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Banner from $75.00 to $73.00 and set a "market perform" rating for the company in a research report on Monday, April 21st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Banner presently has a consensus rating of "Moderate Buy" and an average target price of $70.83.
Get Our Latest Report on BANR
Banner Price Performance
Shares of BANR stock traded up $0.73 on Friday, reaching $63.13. The company had a trading volume of 170,252 shares, compared to its average volume of 213,869. The stock has a market capitalization of $2.18 billion, a PE ratio of 12.94 and a beta of 0.90. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. The business's 50-day moving average is $62.39 and its 200 day moving average is $67.11. Banner Co. has a one year low of $44.59 and a one year high of $78.05.
Banner (NASDAQ:BANR - Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.06. Banner had a net margin of 20.28% and a return on equity of 10.03%. The firm had revenue of $159.88 million for the quarter, compared to analysts' expectations of $159.72 million. During the same quarter in the previous year, the firm posted $1.22 earnings per share. Equities research analysts forecast that Banner Co. will post 5.23 EPS for the current fiscal year.
Banner Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Tuesday, April 29th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend is Tuesday, April 29th. Banner's dividend payout ratio (DPR) is currently 37.72%.
About Banner
(
Free Report)
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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