Short Interest in Banner Co. (NASDAQ:BANR) Decreases By 19.7%

Banner Co. (NASDAQ:BANR - Get Free Report) saw a large drop in short interest in April. As of April 15th, there was short interest totalling 705,100 shares, a drop of 19.7% from the March 31st total of 878,500 shares. Approximately 2.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 199,400 shares, the short-interest ratio is presently 3.5 days.

Institutional Investors Weigh In On Banner

A number of large investors have recently made changes to their positions in the business. CWM LLC lifted its stake in shares of Banner by 923.0% in the 3rd quarter. CWM LLC now owns 757 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 683 shares during the period. SG Americas Securities LLC purchased a new position in shares of Banner in the 3rd quarter valued at approximately $690,000. Exchange Traded Concepts LLC purchased a new position in shares of Banner in the 3rd quarter valued at approximately $34,000. Hennessy Advisors Inc. lifted its stake in shares of Banner by 33.3% in the 3rd quarter. Hennessy Advisors Inc. now owns 20,000 shares of the financial services provider's stock valued at $848,000 after purchasing an additional 5,000 shares during the period. Finally, Raymond James & Associates raised its stake in Banner by 7.3% during the third quarter. Raymond James & Associates now owns 13,475 shares of the financial services provider's stock valued at $571,000 after buying an additional 911 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on BANR. Piper Sandler reduced their price target on Banner from $54.00 to $51.00 and set an "overweight" rating on the stock in a research report on Friday, April 19th. Keefe, Bruyette & Woods reduced their price target on Banner from $58.00 to $54.00 and set a "market perform" rating on the stock in a research report on Monday, January 22nd. Stephens reduced their price target on Banner from $54.00 to $53.00 and set an "overweight" rating on the stock in a research report on Friday, April 19th. DA Davidson reduced their price target on Banner from $50.00 to $47.00 and set a "neutral" rating on the stock in a research report on Friday, April 19th. Finally, Raymond James raised their price target on Banner from $47.00 to $51.00 and gave the stock an "outperform" rating in a research report on Monday, January 22nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $51.20.

Banner Trading Down 0.0 %

Shares of BANR stock traded down $0.02 during trading hours on Friday, reaching $45.36. The company's stock had a trading volume of 109,740 shares, compared to its average volume of 171,197. The stock has a market capitalization of $1.56 billion, a P/E ratio of 9.43 and a beta of 1.03. Banner has a one year low of $39.31 and a one year high of $55.66. The firm's fifty day simple moving average is $45.45 and its 200 day simple moving average is $46.57. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24.

Banner Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Tuesday, April 30th will be given a $0.48 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.23%. Banner's dividend payout ratio is currently 39.92%.

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.