Cwm LLC Purchases 371 Shares of Banner Co. (NASDAQ:BANR)

Cwm LLC raised its stake in shares of Banner Co. (NASDAQ:BANR) by 19.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,275 shares of the financial services provider’s stock after purchasing an additional 371 shares during the period. Cwm LLC’s holdings in Banner were worth $136,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BANR. Louisiana State Employees Retirement System increased its position in Banner by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the financial services provider’s stock worth $859,000 after purchasing an additional 300 shares during the last quarter. Diversified Trust Co boosted its stake in Banner by 3.9% in the 1st quarter. Diversified Trust Co now owns 9,906 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 371 shares in the last quarter. Texas Permanent School Fund Corp lifted its position in Banner by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 30,061 shares of the financial services provider’s stock worth $1,443,000 after acquiring an additional 389 shares during the period. ProShare Advisors LLC increased its holdings in Banner by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 6,906 shares of the financial services provider’s stock worth $331,000 after buying an additional 475 shares during the period. Finally, EntryPoint Capital LLC boosted its holdings in Banner by 100.9% in the first quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 558 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BANR has been the topic of several recent analyst reports. Stephens reissued an “overweight” rating and set a $53.00 target price on shares of Banner in a research note on Thursday, July 18th. Piper Sandler set a $67.00 price target on shares of Banner in a research report on Thursday, October 17th. Janney Montgomery Scott downgraded Banner from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Raymond James lifted their target price on Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, DA Davidson boosted their price objective on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $61.60.

Banner Stock Down 1.0 %

Shares of NASDAQ BANR opened at $64.54 on Friday. Banner Co. has a 52-week low of $39.31 and a 52-week high of $68.11. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.43. The stock has a market cap of $2.22 billion, a PE ratio of 13.42 and a beta of 1.05. The business has a 50-day moving average price of $59.71 and a 200 day moving average price of $52.75.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.12. Banner had a net margin of 20.93% and a return on equity of 10.89%. The business had revenue of $213.90 million for the quarter, compared to the consensus estimate of $152.95 million. During the same quarter in the previous year, the firm earned $1.43 earnings per share. Equities research analysts forecast that Banner Co. will post 4.71 earnings per share for the current year.

Banner Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be issued a dividend of $0.48 per share. The ex-dividend date is Tuesday, November 5th. This represents a $1.92 annualized dividend and a yield of 2.97%. Banner’s dividend payout ratio is presently 39.92%.

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.