abrdn plc Purchases 46,938 Shares of Banner Co. (NASDAQ:BANR)

abrdn plc raised its stake in Banner Co. (NASDAQ:BANR) by 12.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 428,293 shares of the financial services provider’s stock after buying an additional 46,938 shares during the period. abrdn plc owned about 1.25% of Banner worth $22,939,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BANR. Victory Capital Management Inc. grew its position in shares of Banner by 950.6% in the 3rd quarter. Victory Capital Management Inc. now owns 184,833 shares of the financial services provider’s stock valued at $7,833,000 after buying an additional 167,240 shares during the last quarter. Numerai GP LLC grew its position in shares of Banner by 131.1% in the 3rd quarter. Numerai GP LLC now owns 98,819 shares of the financial services provider’s stock valued at $4,188,000 after buying an additional 56,067 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Banner by 4.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 966,979 shares of the financial services provider’s stock valued at $40,981,000 after buying an additional 42,871 shares during the last quarter. American Century Companies Inc. grew its position in shares of Banner by 13.5% in the 3rd quarter. American Century Companies Inc. now owns 315,039 shares of the financial services provider’s stock valued at $13,351,000 after buying an additional 37,543 shares during the last quarter. Finally, Vanguard Group Inc. grew its position in shares of Banner by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,146,849 shares of the financial services provider’s stock valued at $175,743,000 after buying an additional 36,850 shares during the last quarter. Institutional investors own 87.33% of the company’s stock.

Banner Stock Up 1.8 %

BANR stock opened at $46.05 on Wednesday. The stock’s 50 day simple moving average is $45.41 and its 200 day simple moving average is $46.56. Banner Co. has a fifty-two week low of $39.31 and a fifty-two week high of $55.66. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $1.58 billion, a P/E ratio of 9.57 and a beta of 1.03.

Banner Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Tuesday, April 30th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.17%. The ex-dividend date of this dividend is Monday, April 29th. Banner’s dividend payout ratio (DPR) is currently 39.92%.

Analyst Ratings Changes

BANR has been the topic of several research analyst reports. Raymond James upped their target price on Banner from $47.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods cut their target price on Banner from $58.00 to $54.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. Piper Sandler cut their target price on Banner from $54.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. 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. Finally, DA Davidson cut their target price on Banner from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Banner currently has an average rating of “Moderate Buy” and an average price target of $51.20.

About Banner

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.