Wells Fargo & Company MN Has $1.69 Million Position in Banner Co. (NASDAQ:BANR)

Wells Fargo & Company MN boosted its holdings in shares of Banner Co. (NASDAQ:BANR - Free Report) by 31.7% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 25,338 shares of the financial services provider's stock after acquiring an additional 6,097 shares during the period. Wells Fargo & Company MN owned 0.07% of Banner worth $1,692,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. William Blair Investment Management LLC increased its holdings in Banner by 10,213.3% in the fourth quarter. William Blair Investment Management LLC now owns 634,579 shares of the financial services provider's stock valued at $42,371,000 after purchasing an additional 628,426 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Banner by 28.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,701,653 shares of the financial services provider's stock valued at $113,619,000 after acquiring an additional 373,037 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Banner in the 4th quarter valued at approximately $10,023,000. Fisher Asset Management LLC boosted its stake in Banner by 40.5% during the 4th quarter. Fisher Asset Management LLC now owns 398,166 shares of the financial services provider's stock worth $26,586,000 after acquiring an additional 114,731 shares during the last quarter. Finally, Norges Bank acquired a new position in Banner during the fourth quarter valued at approximately $6,075,000. Institutional investors own 87.33% of the company's stock.

Banner Stock Performance

Shares of BANR stock traded up $1.16 during midday trading on Thursday, hitting $62.30. 48,515 shares of the company were exchanged, compared to its average volume of 212,992. The firm has a market capitalization of $2.15 billion, a P/E ratio of 12.77 and a beta of 0.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.86. Banner Co. has a 52 week low of $43.93 and a 52 week high of $78.05. The firm's 50 day moving average price is $62.58 and its two-hundred day moving average price is $67.13.

Banner (NASDAQ:BANR - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.06. Banner had a return on equity of 10.03% and a net margin of 20.28%. The business had revenue of $159.88 million during the quarter, compared to analysts' expectations of $159.72 million. During the same period last year, the firm posted $1.22 EPS. As a group, equities research analysts anticipate that Banner Co. will post 5.23 earnings per share for the current year.

Banner Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Tuesday, April 29th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $1.92 annualized dividend and a dividend yield of 3.08%. Banner's dividend payout ratio is 37.72%.

Analyst Upgrades and Downgrades

BANR has been the subject of several research analyst reports. Raymond James reissued an "outperform" rating and issued a $65.00 price target (down previously from $77.00) on shares of Banner in a report on Monday, April 21st. Janney Montgomery Scott raised shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 price objective on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods dropped their target price on Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. StockNews.com raised Banner from a "sell" rating to a "hold" rating in a research report on Monday. Finally, DA Davidson increased their price objective on Banner from $73.00 to $76.00 and gave the company a "neutral" rating in a report on Friday, January 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $70.83.

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.