Channing Capital Management LLC Invests $8.29 Million in Banner Co. (NASDAQ:BANR)

Channing Capital Management LLC purchased a new stake in Banner Co. (NASDAQ:BANR) in the 4th quarter, HoldingsChannel reports. The fund purchased 154,839 shares of the financial services provider’s stock, valued at approximately $8,293,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Carmel Capital Partners LLC bought a new position in shares of Banner in the third quarter valued at $25,000. CWM LLC lifted its position in Banner by 923.0% in the 3rd quarter. CWM LLC now owns 757 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 683 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Banner during the 3rd quarter valued at about $34,000. Federated Hermes Inc. bought a new stake in Banner during the 3rd quarter worth approximately $45,000. Finally, Nisa Investment Advisors LLC raised its stake in shares of Banner by 19.0% in the fourth 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 during the last quarter. Institutional investors own 87.33% of the company’s stock.

Analyst Upgrades and Downgrades

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

Banner Stock Performance

NASDAQ:BANR traded up $0.97 during trading on Friday, reaching $46.24. The company’s stock had a trading volume of 133,021 shares, compared to its average volume of 178,606. Banner Co. has a 12 month low of $39.31 and a 12 month high of $55.66. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 9.61 and a beta of 1.04. The firm has a 50 day moving average of $45.47 and a 200-day moving average of $46.63. 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 Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Tuesday, April 30th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a yield of 4.15%. Banner’s dividend payout ratio (DPR) is presently 39.92%.

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.