State of New Jersey Common Pension Fund D purchased a new stake in shares of Banner Co. (NASDAQ:BANR – Get Rating) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 40,741 shares of the financial services provider’s stock, valued at approximately $2,385,000. State of New Jersey Common Pension Fund D owned approximately 0.12% of Banner as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. ProShare Advisors LLC raised its holdings in shares of Banner by 59.8% during the 4th quarter. ProShare Advisors LLC now owns 8,526 shares of the financial services provider’s stock valued at $518,000 after buying an additional 3,192 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its position in Banner by 4.5% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 76,890 shares of the financial services provider’s stock worth $4,665,000 after purchasing an additional 3,292 shares during the period. Yousif Capital Management LLC bought a new stake in Banner in the fourth quarter worth $1,925,000. Weiss Multi Strategy Advisers LLC boosted its position in Banner by 10.1% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 125,611 shares of the financial services provider’s stock valued at $7,621,000 after buying an additional 11,540 shares during the period. Finally, Saba Capital Management L.P. bought a new position in shares of Banner during the fourth quarter valued at about $7,438,000. Institutional investors own 85.00% of the company’s stock.
Banner Stock Performance
Shares of BANR stock opened at $60.58 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.27. The stock has a fifty day moving average of $58.43 and a 200 day moving average of $56.63. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 10.94 and a beta of 1.00. Banner Co. has a 52 week low of $50.02 and a 52 week high of $66.79.
Banner Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Stockholders of record on Tuesday, August 2nd will be given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Monday, August 1st. Banner’s dividend payout ratio is currently 31.77%.
Analyst Ratings Changes
BANR has been the subject of several analyst reports. Raymond James dropped their target price on Banner from $70.00 to $65.00 and set a “strong-buy” rating for the company in a report on Thursday, July 7th. Janney Montgomery Scott raised shares of Banner from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a research note on Tuesday, June 28th. Stephens raised shares of Banner from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $66.00 to $67.00 in a report on Friday, June 17th. Finally, Piper Sandler boosted their price objective on shares of Banner to $65.00 in a research report on Friday, July 22nd. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.00.
Banner Corporation operates as the bank holding company for Banner Bank that provide 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.
- Get a free copy of the StockNews.com research report on Banner (BANR)
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