J.W. Cole Advisors Inc. Takes Position in Banner Co. (NASDAQ:BANR)

J.W. Cole Advisors Inc. purchased a new stake in shares of Banner Co. (NASDAQ:BANR) in the fourth quarter, according to its most recent 13F filing with the SEC. The fund purchased 6,602 shares of the financial services provider’s stock, valued at approximately $354,000.

A number of other hedge funds have also recently made changes to their positions in the company. TRUE Private Wealth Advisors purchased a new position in shares of Banner during the 4th quarter valued at $215,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Banner by 17.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,976 shares of the financial services provider’s stock valued at $427,000 after purchasing an additional 1,181 shares in the last quarter. Phocas Financial Corp. grew its position in shares of Banner by 1.8% during the 4th quarter. Phocas Financial Corp. now owns 131,912 shares of the financial services provider’s stock valued at $7,065,000 after purchasing an additional 2,342 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in shares of Banner during the 4th quarter worth $921,000. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Banner by 9.1% during the 4th quarter. Sequoia Financial Advisors LLC now owns 9,081 shares of the financial services provider’s stock worth $486,000 after acquiring an additional 759 shares during the last quarter. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Banner Stock Performance

Banner stock opened at $46.15 on Thursday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.59 billion, a PE ratio of 9.59 and a beta of 1.03. The firm has a fifty day simple moving average of $45.46 and a two-hundred day simple moving average of $46.55. Banner Co. has a twelve month low of $39.31 and a twelve month high of $55.66.

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Tuesday, April 30th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.16%. The ex-dividend date is Monday, April 29th. Banner’s dividend payout ratio is presently 39.92%.

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.