TRUE Private Wealth Advisors Invests $215,000 in Banner Co. (NASDAQ:BANR)

TRUE Private Wealth Advisors purchased a new position in Banner Co. (NASDAQ:BANR) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 4,008 shares of the financial services provider’s stock, valued at approximately $215,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Numerai GP LLC boosted its position in shares of Banner by 131.1% in the 3rd quarter. Numerai GP LLC now owns 98,819 shares of the financial services provider’s stock worth $4,188,000 after purchasing an additional 56,067 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in Banner during the third quarter worth about $836,000. Vanguard Group Inc. lifted its holdings in Banner by 0.9% during the third quarter. Vanguard Group Inc. now owns 4,146,849 shares of the financial services provider’s stock worth $175,743,000 after acquiring an additional 36,850 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in Banner by 950.6% during the third quarter. Victory Capital Management Inc. now owns 184,833 shares of the financial services provider’s stock worth $7,833,000 after acquiring an additional 167,240 shares in the last quarter. Finally, Federated Hermes Inc. bought a new position in Banner during the third quarter worth about $45,000. 87.33% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Keefe, Bruyette & Woods cut their price target on Banner from $58.00 to $54.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Raymond James boosted their price target on Banner from $47.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Banner currently has a consensus rating of “Moderate Buy” and an average price target of $53.75.

Banner Stock Performance

BANR opened at $43.73 on Friday. Banner Co. has a 52-week low of $39.31 and a 52-week high of $55.66. The firm has a market capitalization of $1.50 billion, a PE ratio of 9.09 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.83 and a current ratio of 0.83. The business’s 50-day simple moving average is $45.35 and its 200 day simple moving average is $46.43.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $152.46 million for the quarter, compared to the consensus estimate of $155.54 million. Banner had a return on equity of 11.64% and a net margin of 21.62%. As a group, sell-side analysts expect that Banner Co. will post 4.64 earnings per share for the current fiscal year.

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 16th. Shareholders of record on Wednesday, February 7th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.39%. The ex-dividend date of this dividend was Tuesday, February 6th. Banner’s dividend payout ratio (DPR) is presently 39.92%.

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.