Acadian Asset Management LLC trimmed its holdings in Banner Co. (NASDAQ:BANR) by 28.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 167,114 shares of the financial services provider’s stock after selling 65,545 shares during the quarter. Acadian Asset Management LLC owned 0.48% of Banner worth $5,390,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Advisor Group Holdings Inc. bought a new stake in shares of Banner in the first quarter valued at approximately $39,000. Macquarie Group Ltd. bought a new stake in shares of Banner in the second quarter valued at approximately $46,000. Freestone Capital Holdings LLC bought a new stake in shares of Banner in the third quarter valued at approximately $46,000. PNC Financial Services Group Inc. boosted its position in shares of Banner by 34.1% in the second quarter. PNC Financial Services Group Inc. now owns 1,902 shares of the financial services provider’s stock valued at $73,000 after acquiring an additional 484 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Banner by 87.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,862 shares of the financial services provider’s stock valued at $185,000 after acquiring an additional 2,263 shares during the period. 74.06% of the stock is owned by institutional investors.
Several equities research analysts have recently weighed in on the company. Piper Sandler reduced their price objective on Banner from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Thursday, October 1st. ValuEngine upgraded Banner from a “sell” rating to a “hold” rating in a research note on Tuesday, October 27th. Zacks Investment Research upgraded Banner from a “hold” rating to a “buy” rating and set a $44.00 price objective for the company in a research note on Monday, October 26th. BidaskClub upgraded Banner from a “hold” rating to a “buy” rating in a report on Thursday, November 5th. Finally, TheStreet upgraded Banner from a “c+” rating to a “b” rating in a report on Tuesday, November 3rd. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $40.33.
Shares of BANR opened at $43.16 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.32. Banner Co. has a 1 year low of $27.12 and a 1 year high of $59.64. The stock has a market cap of $1.52 billion, a P/E ratio of 13.83 and a beta of 1.12. The stock’s 50-day moving average price is $38.08 and its two-hundred day moving average price is $36.34.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 12th. Stockholders of record on Tuesday, November 3rd were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date of this dividend was Monday, November 2nd. Banner’s dividend payout ratio is currently 37.44%.
Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank that provide commercial banking and financial products and services to individuals, businesses, and public sector entities primarily in the United States. It offers deposit products, 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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