Denali Advisors LLC Reduces Holdings in Banner Co. (NASDAQ:BANR)

Denali Advisors LLC lowered its position in Banner Co. (NASDAQ:BANR) by 80.5% during the 4th quarter, HoldingsChannel reports. The fund owned 8,300 shares of the financial services provider’s stock after selling 34,300 shares during the period. Denali Advisors LLC’s holdings in Banner were worth $554,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BANR. Mirae Asset Global Investments Co. Ltd. raised its position in Banner by 12.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 21,006 shares of the financial services provider’s stock worth $1,236,000 after purchasing an additional 2,310 shares during the period. abrdn plc raised its holdings in shares of Banner by 5.0% in the third quarter. abrdn plc now owns 443,072 shares of the financial services provider’s stock worth $26,389,000 after buying an additional 20,978 shares during the period. US Bancorp DE lifted its stake in shares of Banner by 287.1% during the 3rd quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 1,065 shares during the last quarter. Rosenthal Henry Capital Advisors Inc. boosted its holdings in Banner by 2.2% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 33,133 shares of the financial services provider’s stock valued at $1,973,000 after acquiring an additional 700 shares during the period. Finally, Clear Creek Financial Management LLC bought a new position in Banner in the 3rd quarter valued at $209,000. Institutional investors own 87.33% of the company’s stock.

Banner Trading Down 0.4 %

BANR opened at $67.92 on Thursday. Banner Co. has a 12 month low of $42.00 and a 12 month high of $78.05. The stock has a fifty day moving average price of $68.52 and a 200-day moving average price of $65.93. The firm has a market cap of $2.34 billion, a price-to-earnings ratio of 13.92 and a beta of 1.09. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32.

Banner (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.11. Banner had a net margin of 20.28% and a return on equity of 10.03%. As a group, equities research analysts anticipate that Banner Co. will post 5.23 earnings per share for the current fiscal year.

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Tuesday, February 4th. Banner’s payout ratio is 39.34%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. DA Davidson lifted 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 set a $82.00 price objective on shares of Banner in a report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods upped their target price on shares of Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently 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.