abrdn plc Has $21.30 Million Stock Holdings in Banner Co. (NASDAQ:BANR)

abrdn plc lowered its stake in Banner Co. (NASDAQ:BANR) by 28.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 318,935 shares of the financial services provider’s stock after selling 124,137 shares during the period. abrdn plc’s holdings in Banner were worth $21,295,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. USA Financial Formulas acquired a new position in shares of Banner in the fourth quarter valued at approximately $32,000. Financial Life Planners bought a new stake in Banner in the 4th quarter valued at $32,000. US Bancorp DE grew its holdings in Banner by 287.1% in the 3rd quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock valued at $86,000 after buying an additional 1,065 shares in the last quarter. KBC Group NV increased its position in Banner by 46.0% during the 4th quarter. KBC Group NV now owns 1,656 shares of the financial services provider’s stock worth $111,000 after buying an additional 522 shares during the period. Finally, CWM LLC lifted its holdings in shares of Banner by 19.5% during the third quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock worth $136,000 after buying an additional 371 shares in the last quarter. 87.33% of the stock is owned by institutional investors.

Banner Stock Performance

Shares of Banner stock opened at $71.35 on Friday. 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 market cap of $2.46 billion, a PE ratio of 14.62 and a beta of 1.09. The company has a 50 day moving average of $69.74 and a 200-day moving average of $64.71. Banner Co. has a 1-year low of $42.00 and a 1-year high of $78.05.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.22 by $0.11. Banner had a return on equity of 10.03% and a net margin of 20.28%. As a group, equities research analysts forecast that Banner Co. will post 5.17 earnings per share for the current fiscal year.

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.69%. The ex-dividend date is Tuesday, February 4th. Banner’s payout ratio is 39.34%.

Wall Street Analyst Weigh In

Several research firms recently commented on BANR. Stephens restated an “overweight” rating and issued a $82.00 price target on shares of Banner in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods raised their target price on shares of Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Piper Sandler set a $67.00 price target on shares of Banner in a research report on Thursday, October 17th. Finally, DA Davidson increased their price target on Banner from $73.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. One equities research 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. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $74.20.

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.