Banner Co. (NASDAQ:BANR) Short Interest Update

Banner Co. (NASDAQ:BANR) was the recipient of a significant drop in short interest during the month of 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. Based on an average trading volume of 199,400 shares, the short-interest ratio is presently 3.5 days. Currently, 2.1% of the shares of the company are short sold.

Banner Price Performance

NASDAQ:BANR traded down $0.02 during trading hours on Friday, reaching $45.36. 109,740 shares of the company were exchanged, compared to its average volume of 171,197. The business has a 50 day moving average of $45.45 and a 200 day moving average of $46.55. Banner has a 1-year low of $39.31 and a 1-year high of $55.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.82. The company has a market capitalization of $1.56 billion, a P/E ratio of 9.43 and a beta of 1.03.

Banner Dividend Announcement

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

Analyst Ratings Changes

BANR has been the topic of several research reports. Stephens decreased their target price on Banner from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Raymond James upped their price objective on Banner from $47.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. DA Davidson lowered their price objective on Banner from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Piper Sandler reduced their target price on shares of Banner from $54.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Banner from $58.00 to $54.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nisa Investment Advisors LLC grew its stake in Banner by 19.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,535 shares of the financial services provider’s stock worth $82,000 after buying an additional 245 shares in the last quarter. Diversified Trust Co boosted its position in shares of Banner by 4.2% during the 3rd quarter. Diversified Trust Co now owns 8,649 shares of the financial services provider’s stock worth $367,000 after acquiring an additional 352 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Banner by 4.7% in the third quarter. Sequoia Financial Advisors LLC now owns 8,322 shares of the financial services provider’s stock valued at $353,000 after acquiring an additional 373 shares during the last quarter. CWM LLC increased its stake in Banner by 49.9% in the fourth quarter. CWM LLC now owns 1,135 shares of the financial services provider’s stock valued at $61,000 after acquiring an additional 378 shares during the last quarter. Finally, Comerica Bank raised its position in Banner by 2.2% during the fourth quarter. Comerica Bank now owns 18,004 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 380 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.

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.