Louisiana State Employees Retirement System Acquires Shares of 17,200 Banner Co. (NASDAQ:BANR)

Louisiana State Employees Retirement System purchased a new position in shares of Banner Co. (NASDAQ:BANR - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 17,200 shares of the financial services provider's stock, valued at approximately $921,000. Louisiana State Employees Retirement System owned 0.05% of Banner as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BANR. CWM LLC boosted its stake in Banner by 923.0% in the 3rd quarter. CWM LLC now owns 757 shares of the financial services provider's stock worth $32,000 after purchasing an additional 683 shares during the period. SG Americas Securities LLC bought a new position in Banner in the 3rd quarter worth about $690,000. Exchange Traded Concepts LLC bought a new position in Banner in the 3rd quarter worth about $34,000. Hennessy Advisors Inc. boosted its stake in Banner by 33.3% in the 3rd quarter. Hennessy Advisors Inc. now owns 20,000 shares of the financial services provider's stock worth $848,000 after purchasing an additional 5,000 shares during the period. Finally, Raymond James & Associates boosted its stake in Banner by 7.3% in the 3rd quarter. Raymond James & Associates now owns 13,475 shares of the financial services provider's stock worth $571,000 after purchasing an additional 911 shares during the period. Institutional investors own 87.33% of the company's stock.

Banner Price Performance

NASDAQ:BANR traded down $0.02 during mid-day trading on Friday, reaching $45.36. The stock had a trading volume of 109,740 shares, compared to its average volume of 197,862. The firm has a 50 day moving average price of $45.45 and a two-hundred day moving average price of $46.55. The stock has a market capitalization of $1.56 billion, a P/E ratio of 9.43 and a beta of 1.03. Banner Co. has a one year low of $39.31 and a one year high of $55.66. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.82 and a current ratio of 0.82.

Banner Dividend Announcement

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

Analysts Set New Price Targets

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

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.