Raymond James & Associates Buys 939 Shares of Banner Co. (NASDAQ:BANR)

Raymond James & Associates lifted its stake in shares of Banner Co. (NASDAQ:BANRGet Rating) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,549 shares of the financial services provider’s stock after purchasing an additional 939 shares during the period. Raymond James & Associates owned 0.08% of Banner worth $1,687,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in BANR. BNP Paribas Arbitrage SA grew its holdings in Banner by 1.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 14,703 shares of the financial services provider’s stock valued at $826,000 after buying an additional 191 shares in the last quarter. Bank of Montreal Can grew its holdings in Banner by 2.3% in the 1st quarter. Bank of Montreal Can now owns 11,310 shares of the financial services provider’s stock valued at $697,000 after buying an additional 254 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in Banner by 2.0% in the 2nd quarter. Maryland State Retirement & Pension System now owns 14,009 shares of the financial services provider’s stock valued at $787,000 after buying an additional 274 shares in the last quarter. Eagle Bay Advisors LLC grew its holdings in Banner by 126.7% in the 2nd quarter. Eagle Bay Advisors LLC now owns 501 shares of the financial services provider’s stock valued at $28,000 after buying an additional 280 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in Banner by 1.2% in the 2nd quarter. Lazard Asset Management LLC now owns 31,082 shares of the financial services provider’s stock valued at $1,747,000 after buying an additional 357 shares in the last quarter. Institutional investors own 85.27% of the company’s stock.

Banner Stock Performance

BANR opened at $63.35 on Wednesday. The firm has a market cap of $2.17 billion, a P/E ratio of 11.17 and a beta of 1.02. Banner Co. has a 52-week low of $52.35 and a 52-week high of $75.72. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.77 and a current ratio of 0.77. The business’s fifty day moving average is $63.04 and its 200-day moving average is $66.89.

Banner Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 13th. Stockholders of record on Thursday, February 2nd will be issued a dividend of $0.48 per share. This is a positive change from Banner’s previous quarterly dividend of $0.44. This represents a $1.92 annualized dividend and a dividend yield of 3.03%. The ex-dividend date is Wednesday, February 1st. Banner’s dividend payout ratio is 31.04%.

Analyst Ratings Changes

A number of research analysts have commented on the company. StockNews.com lowered Banner from a “hold” rating to a “sell” rating in a report on Wednesday, January 18th. Raymond James decreased their price objective on Banner from $72.00 to $68.00 and set an “outperform” rating on the stock in a report on Monday. Finally, DA Davidson increased their target price on Banner to $70.00 in a report on Thursday, October 27th.

Banner 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.

See Also

Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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