Mirae Asset Global Investments Co. Ltd. Increases Holdings in Banner Co. (NASDAQ:BANR)

Mirae Asset Global Investments Co. Ltd. increased its stake in Banner Co. (NASDAQ:BANR) by 18.7% during the fourth quarter, according to its most recent filing with the SEC. The fund owned 24,939 shares of the financial services provider’s stock after buying an additional 3,933 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Banner were worth $1,667,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. CWM LLC raised its stake in shares of Banner by 19.5% in the third quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock valued at $136,000 after buying an additional 371 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in Banner by 21.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 176,137 shares of the financial services provider’s stock worth $10,491,000 after acquiring an additional 31,328 shares during the last quarter. Mount Yale Investment Advisors LLC raised its stake in Banner by 18.4% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 5,641 shares of the financial services provider’s stock valued at $336,000 after acquiring an additional 875 shares during the period. abrdn plc lifted its holdings in Banner by 5.0% during the third quarter. abrdn plc now owns 443,072 shares of the financial services provider’s stock valued at $26,389,000 after purchasing an additional 20,978 shares during the last quarter. Finally, US Bancorp DE boosted its position in Banner by 287.1% during the third quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 1,065 shares during the period. Institutional investors own 87.33% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BANR shares. Piper Sandler set a $67.00 price target on shares of Banner in a research note on Thursday, October 17th. DA Davidson increased their target price on Banner from $73.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Stephens reiterated an “overweight” rating and issued a $82.00 price target on shares of Banner in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Banner has an average rating of “Hold” and a consensus price target of $74.20.

Banner Price Performance

Banner stock opened at $69.00 on Tuesday. The stock has a market cap of $2.38 billion, a price-to-earnings ratio of 14.14 and a beta of 1.09. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. The business has a 50-day simple moving average of $69.57 and a 200 day simple moving average of $64.91. Banner Co. has a 52 week low of $42.00 and a 52 week high of $78.05.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.22 by $0.11. Banner had a return on equity of 10.03% and a net margin of 20.28%. On average, research analysts forecast that Banner Co. will post 5.22 earnings per share for the current fiscal year.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.78%. The ex-dividend date of this dividend is Tuesday, February 4th. Banner’s dividend payout ratio (DPR) is currently 39.34%.

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.