Charles Schwab Investment Management Inc. Boosts Holdings in Banner Co. (NASDAQ:BANR)

Charles Schwab Investment Management Inc. boosted its stake in shares of Banner Co. (NASDAQ:BANR - Free Report) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 988,426 shares of the financial services provider's stock after buying an additional 21,447 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.88% of Banner worth $52,940,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Federated Hermes Inc. bought a new stake in shares of Banner in the 3rd quarter worth $45,000. CWM LLC increased its holdings in shares of Banner by 49.9% in the 4th quarter. CWM LLC now owns 1,135 shares of the financial services provider's stock worth $61,000 after purchasing an additional 378 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Banner by 19.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,535 shares of the financial services provider's stock worth $82,000 after purchasing an additional 245 shares in the last quarter. TRUE Private Wealth Advisors bought a new stake in shares of Banner in the 4th quarter worth $215,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Banner by 47.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,795 shares of the financial services provider's stock worth $288,000 after purchasing an additional 2,184 shares in the last quarter. Institutional investors own 87.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on BANR shares. Piper Sandler reduced their target price on Banner from $54.00 to $51.00 and set an "overweight" rating for the company in a report on Friday, April 19th. Raymond James lifted their price objective on Banner from $47.00 to $51.00 and gave the stock an "outperform" rating in a report on Monday, January 22nd. DA Davidson cut their price objective on Banner from $50.00 to $47.00 and set a "neutral" rating for the company in a report on Friday, April 19th. StockNews.com raised Banner from a "sell" rating to a "hold" rating in a report on Monday, May 13th. Finally, Stephens cut their price objective on Banner from $54.00 to $53.00 and set an "overweight" rating for the company in a report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Banner currently has an average rating of "Moderate Buy" and an average target price of $51.20.

Banner Stock Performance

NASDAQ BANR traded up $0.49 on Friday, hitting $47.06. 112,788 shares of the company traded hands, compared to its average volume of 157,034. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 9.78 and a beta of 1.04. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. The business's 50 day moving average price is $45.75 and its 200-day moving average price is $46.96. Banner Co. has a 52-week low of $39.31 and a 52-week high of $55.66.

Banner (NASDAQ:BANR - Get Free Report) last released its earnings results on Wednesday, April 17th. The financial services provider reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.05. The company had revenue of $144.55 million for the quarter, compared to the consensus estimate of $150.67 million. Banner had a return on equity of 11.47% and a net margin of 21.62%. Equities analysts expect that Banner Co. will post 4.72 earnings per share for the current year.

Banner Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Tuesday, April 30th were given a dividend of $0.48 per share. The ex-dividend date was Monday, April 29th. This represents a $1.92 annualized dividend and a yield of 4.08%. Banner's dividend payout ratio (DPR) is presently 39.92%.

About Banner

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.