Truist Financial Corp Buys 426 Shares of Banner Co. (NASDAQ:BANR)

Truist Financial Corp lifted its stake in Banner Co. (NASDAQ:BANR – Get Rating) by 4.2% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,627 shares of the financial services provider’s stock after acquiring an additional 426 shares during the period. Truist Financial Corp’s holdings in Banner were worth $627,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. Wipfli Financial Advisors LLC bought a new stake in shares of Banner in the third quarter valued at about $45,000. Fort Washington Investment Advisors Inc. OH bought a new stake in shares of Banner in the third quarter valued at about $13,364,000. Raymond James & Associates lifted its stake in Banner by 3.4% during the third quarter. Raymond James & Associates now owns 28,549 shares of the financial services provider’s stock worth $1,687,000 after purchasing an additional 939 shares during the period. AE Wealth Management LLC bought a new position in Banner during the third quarter worth about $622,000. Finally, John W. Rosenthal Capital Management Inc. bought a new position in Banner during the third quarter worth about $2,347,000. Institutional investors own 85.27% of the company’s stock.

Banner Stock Performance

NASDAQ BANR opened at $64.43 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.29. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 11.36 and a beta of 1.02. The company has a 50 day moving average of $63.00 and a 200-day moving average of $66.89. Banner Co. has a 1-year low of $52.35 and a 1-year high of $75.72.

Banner Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 13th. Shareholders of record on Thursday, February 2nd will be paid a $0.48 dividend. This is a positive change from Banner’s previous quarterly dividend of $0.44. The ex-dividend date is Wednesday, February 1st. This represents a $1.92 annualized dividend and a yield of 2.98%. Banner’s dividend payout ratio is presently 31.04%.

Analyst Ratings Changes

A number of research analysts have commented on BANR shares. Raymond James cut shares of Banner from a “strong-buy” rating to an “outperform” rating and raised their price target for the stock from $68.00 to $72.00 in a research note on Friday, October 21st. StockNews.com cut shares of Banner from a “hold” rating to a “sell” rating in a research note on Wednesday, January 18th. Finally, DA Davidson raised their price target on shares of Banner to $70.00 in a research note on Thursday, October 27th.

Banner Company Profile

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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.