JPMorgan Chase & Co. Boosts Stake in Banner Co. (NASDAQ:BANR)

JPMorgan Chase & Co. increased its position in Banner Co. (NASDAQ:BANR) by 7.7% in the third quarter, HoldingsChannel reports. The firm owned 409,885 shares of the financial services provider’s stock after purchasing an additional 29,174 shares during the quarter. JPMorgan Chase & Co.’s holdings in Banner were worth $24,413,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in BANR. Quest Partners LLC purchased a new position in Banner during the second quarter valued at $152,000. Texas Permanent School Fund Corp boosted its stake in Banner by 11.9% during the second quarter. Texas Permanent School Fund Corp now owns 33,648 shares of the financial services provider’s stock worth $1,670,000 after acquiring an additional 3,587 shares in the last quarter. American Century Companies Inc. grew its holdings in Banner by 22.0% in the second quarter. American Century Companies Inc. now owns 607,769 shares of the financial services provider’s stock worth $30,170,000 after purchasing an additional 109,457 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Banner by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,361,774 shares of the financial services provider’s stock valued at $117,236,000 after purchasing an additional 37,780 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Banner by 223.1% during the second quarter. Renaissance Technologies LLC now owns 54,599 shares of the financial services provider’s stock valued at $2,710,000 after purchasing an additional 37,700 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP James P.G. Mclean sold 1,500 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total value of $113,445.00. Following the transaction, the vice president now directly owns 21,868 shares in the company, valued at $1,653,876.84. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.60% of the stock is currently owned by insiders.

Banner Stock Up 0.2 %

BANR stock opened at $66.83 on Thursday. The stock has a market capitalization of $2.30 billion, a P/E ratio of 13.98 and a beta of 1.09. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84. Banner Co. has a 1-year low of $42.00 and a 1-year high of $78.05. The business has a fifty day moving average price of $70.68 and a 200-day moving average price of $62.11.

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, topping analysts’ consensus estimates of $1.18 by $0.12. Banner had a return on equity of 10.22% and a net margin of 20.28%. The business had revenue of $213.90 million during the quarter, compared to analyst estimates of $152.95 million. During the same quarter in the previous year, the firm earned $1.43 EPS. Equities analysts forecast that Banner Co. will post 4.88 earnings per share for the current fiscal year.

Banner Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.87%. The ex-dividend date was Tuesday, November 5th. Banner’s dividend payout ratio (DPR) is presently 40.17%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on BANR shares. Keefe, Bruyette & Woods upped their price target on Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler set a $67.00 price target on Banner in a report on Thursday, October 17th. DA Davidson upped their price target on shares of Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Raymond James raised their price objective on shares of Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $67.00.

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.