Banner Co. (NASDAQ:BANR) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC reduced its stake in Banner Co. (NASDAQ:BANR) by 15.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 293,060 shares of the financial services provider’s stock after selling 53,459 shares during the period. Fisher Asset Management LLC owned approximately 0.85% of Banner worth $15,696,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. SG Americas Securities LLC acquired a new stake in Banner in the 3rd quarter valued at about $690,000. Exchange Traded Concepts LLC acquired a new position in Banner during the 3rd quarter worth approximately $34,000. Raymond James & Associates increased its position in shares of Banner by 7.3% in the 3rd quarter. Raymond James & Associates now owns 13,475 shares of the financial services provider’s stock valued at $571,000 after purchasing an additional 911 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Banner by 47.4% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,795 shares of the financial services provider’s stock valued at $288,000 after purchasing an additional 2,184 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Banner by 8.3% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,984 shares of the financial services provider’s stock worth $805,000 after purchasing an additional 1,451 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Raymond James raised their price target on Banner from $47.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Keefe, Bruyette & Woods lowered their price target on Banner from $58.00 to $54.00 and set a “market perform” rating for the company in a report on Monday, January 22nd. Piper Sandler cut their price objective on shares of Banner from $54.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Stephens lowered their target price on shares of Banner from $54.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Finally, DA Davidson cut their price target on shares of Banner from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.20.

Banner Stock Performance

Shares of BANR opened at $46.24 on Monday. The company’s 50 day simple moving average is $45.47 and its 200-day simple moving average is $46.63. Banner Co. has a 12-month low of $39.31 and a 12-month high of $55.66. The firm has a market cap of $1.59 billion, a PE ratio of 9.61 and a beta of 1.04. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24.

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Tuesday, April 30th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.15%. Banner’s payout ratio is 39.92%.

Banner Company Profile

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.