Truist Financial Corp Has $627,000 Stake in Banner Co. (NASDAQ:BANR)

Truist Financial Corp raised its position in shares of Banner Co. (NASDAQ:BANR – Get Rating) by 4.2% in the 3rd quarter, HoldingsChannel.com 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 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Wipfli Financial Advisors LLC acquired a new stake in shares of Banner during the third quarter worth approximately $45,000. Fort Washington Investment Advisors Inc. OH acquired a new stake in shares of Banner during the third quarter worth approximately $13,364,000. Raymond James & Associates increased its holdings in shares of 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 buying an additional 939 shares in the last quarter. AE Wealth Management LLC acquired a new stake in shares of Banner in the third quarter valued at approximately $622,000. Finally, John W. Rosenthal Capital Management Inc. acquired a new stake in shares of Banner in the third quarter valued at approximately $2,347,000. Institutional investors and hedge funds own 85.27% of the company’s stock.

Banner Stock Up 5.1 %

Shares of Banner stock opened at $64.43 on Monday. Banner Co. has a 12 month low of $52.35 and a 12 month high of $75.72. The business has a fifty day simple moving average of $63.00 and a 200 day simple moving average of $66.89. The company has a quick ratio of 0.75, a current ratio of 0.76 and a debt-to-equity ratio of 0.29. The stock has a market cap of $2.20 billion, a PE ratio of 11.36 and a beta of 1.02.

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%.

Wall Street Analysts Forecast Growth

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

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.