abrdn plc Raises Holdings in Banner Co. (NASDAQ:BANR)

abrdn plc boosted its holdings in shares of Banner Co. (NASDAQ:BANR) by 12.3% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 428,293 shares of the financial services provider’s stock after acquiring an additional 46,938 shares during the quarter. abrdn plc’s holdings in Banner were worth $22,939,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of BANR. Victory Capital Management Inc. increased 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 valued at $7,833,000 after buying an additional 167,240 shares during the period. Numerai GP LLC increased its holdings in Banner by 131.1% during the third quarter. Numerai GP LLC now owns 98,819 shares of the financial services provider’s stock valued at $4,188,000 after buying an additional 56,067 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Banner by 4.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 966,979 shares of the financial services provider’s stock valued at $40,981,000 after buying an additional 42,871 shares during the period. American Century Companies Inc. increased its holdings in Banner by 13.5% during the third quarter. American Century Companies Inc. now owns 315,039 shares of the financial services provider’s stock valued at $13,351,000 after buying an additional 37,543 shares during the period. Finally, Vanguard Group Inc. increased 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 valued at $175,743,000 after buying an additional 36,850 shares during the period. 87.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on BANR. Piper Sandler cut their price target on shares of Banner from $54.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Stephens cut their price target on shares of Banner from $54.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. DA Davidson cut their price target on shares of Banner from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Keefe, Bruyette & Woods cut their price target on shares of Banner from $58.00 to $54.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Finally, Raymond James lifted their price target on shares of Banner from $47.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.20.

Banner Price Performance

Shares of BANR opened at $46.05 on Wednesday. The firm has a market capitalization of $1.58 billion, a PE ratio of 9.57 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.82. Banner Co. has a 1-year low of $39.31 and a 1-year high of $55.66. The company’s fifty day moving average price is $45.41 and its 200-day moving average price is $46.56.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Tuesday, April 30th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.17%. The ex-dividend date is Monday, April 29th. 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.