Banner Co. (NASDAQ:BANR) Shares Purchased by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury raised its position in Banner Co. (NASDAQ:BANR) by 10.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 21,819 shares of the financial services provider’s stock after acquiring an additional 1,980 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Banner were worth $1,457,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of BANR. Victory Capital Management Inc. boosted its holdings in shares of Banner by 28.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,701,653 shares of the financial services provider’s stock valued at $113,619,000 after acquiring an additional 373,037 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Banner by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,379,521 shares of the financial services provider’s stock valued at $92,111,000 after purchasing an additional 49,457 shares in the last quarter. American Century Companies Inc. increased its position in Banner by 5.5% during the 4th quarter. American Century Companies Inc. now owns 738,356 shares of the financial services provider’s stock worth $49,300,000 after purchasing an additional 38,454 shares during the period. William Blair Investment Management LLC raised its stake in shares of Banner by 10,213.3% during the 4th quarter. William Blair Investment Management LLC now owns 634,579 shares of the financial services provider’s stock worth $42,371,000 after buying an additional 628,426 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Banner by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 409,885 shares of the financial services provider’s stock valued at $24,413,000 after buying an additional 29,174 shares during the period. 87.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods cut their price objective on Banner from $75.00 to $73.00 and set a “market perform” rating for the company in a research report on Monday, April 21st. DA Davidson increased their price target on shares of Banner from $73.00 to $76.00 and gave the company a “neutral” rating in a report on Friday, January 24th. Janney Montgomery Scott raised shares of Banner from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Monday, April 21st. StockNews.com raised shares of Banner from a “sell” rating to a “hold” rating in a report on Monday. Finally, Stephens reissued an “overweight” rating and set a $73.00 price target on shares of Banner in a research note on Monday, April 21st. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $70.83.

Banner Stock Performance

Shares of BANR opened at $61.56 on Wednesday. Banner Co. has a 12-month low of $43.63 and a 12-month high of $78.05. The stock has a market cap of $2.12 billion, a P/E ratio of 12.61 and a beta of 0.94. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. The company has a 50-day moving average of $62.70 and a two-hundred day moving average of $67.17.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.06. Banner had a return on equity of 10.03% and a net margin of 20.28%. The firm had revenue of $159.88 million during the quarter, compared to the consensus estimate of $159.72 million. During the same period in the previous year, the firm posted $1.22 EPS. As a group, research analysts predict that Banner Co. will post 5.23 EPS for the current fiscal year.

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Tuesday, April 29th will be given a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $1.92 annualized dividend and a dividend yield of 3.12%. Banner’s dividend payout ratio is currently 37.72%.

Banner 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.