Charles Schwab Investment Management Inc. Raises Holdings in Banner Co. (NASDAQ:BANR)

Charles Schwab Investment Management Inc. lifted its position in shares of Banner Co. (NASDAQ:BANR) by 3.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,330,064 shares of the financial services provider’s stock after purchasing an additional 43,398 shares during the period. Charles Schwab Investment Management Inc. owned about 3.86% of Banner worth $79,219,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Innealta Capital LLC acquired a new position in Banner during the second quarter worth approximately $53,000. US Bancorp DE raised its position 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 purchasing an additional 1,065 shares during the last quarter. CWM LLC boosted its stake in Banner by 60.1% during the 2nd quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 715 shares during the period. Quest Partners LLC purchased a new position in Banner during the 2nd quarter worth $152,000. Finally, Clear Creek Financial Management LLC acquired a new position in Banner in the third quarter valued at $209,000. 87.33% of the stock is owned by hedge funds and other institutional investors.

Banner Stock Down 0.3 %

BANR opened at $75.27 on Thursday. 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 12 month low of $42.00 and a 12 month high of $78.05. The stock has a market capitalization of $2.59 billion, a P/E ratio of 15.75 and a beta of 1.04. The business has a 50 day simple moving average of $66.10 and a 200-day simple moving average of $57.20.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, beating 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 company had revenue of $213.90 million during the quarter, compared to the consensus estimate of $152.95 million. During the same quarter last year, the company earned $1.43 earnings per share. On average, equities analysts anticipate that Banner Co. will post 4.88 earnings per share for the current fiscal year.

Banner Announces Dividend

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 dividend of $0.48 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.92 annualized dividend and a yield of 2.55%. Banner’s payout ratio is currently 40.17%.

Analysts Set New Price Targets

BANR has been the subject of several recent research reports. Raymond James increased their target price on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Piper Sandler set a $67.00 target price on Banner in a report on Thursday, October 17th. Finally, DA Davidson increased their price target on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $61.60.

Insider Buying and Selling at Banner

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 completion of the transaction, the vice president now owns 21,868 shares in the company, valued at $1,653,876.84. This trade represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Banner Company 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.