Mount Yale Investment Advisors LLC Increases Position in Banner Co. (NASDAQ:BANR)

Mount Yale Investment Advisors LLC grew its holdings in Banner Co. (NASDAQ:BANR) by 18.4% during the third quarter, HoldingsChannel reports. The firm owned 5,641 shares of the financial services provider’s stock after acquiring an additional 875 shares during the period. Mount Yale Investment Advisors LLC’s holdings in Banner were worth $336,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BANR. Vanguard Group Inc. raised its position in Banner by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,187,837 shares of the financial services provider’s stock valued at $224,301,000 after purchasing an additional 40,988 shares during the period. Diversified Trust Co raised its holdings in Banner by 3.9% in the 1st quarter. Diversified Trust Co now owns 9,906 shares of the financial services provider’s stock valued at $475,000 after buying an additional 371 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its position in Banner by 33.7% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,109 shares of the financial services provider’s stock valued at $1,403,000 after buying an additional 6,838 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Banner by 35.0% during the first quarter. BNP Paribas Financial Markets now owns 28,817 shares of the financial services provider’s stock valued at $1,383,000 after acquiring an additional 7,467 shares during the last quarter. Finally, Mutual of America Capital Management LLC increased its position in shares of Banner by 8.7% during the first quarter. Mutual of America Capital Management LLC now owns 153,326 shares of the financial services provider’s stock valued at $7,360,000 after acquiring an additional 12,246 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Banner Trading Down 2.1 %

Shares of BANR stock opened at $63.21 on Monday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $60.04 and its two-hundred day moving average is $53.06. Banner Co. has a twelve month low of $40.36 and a twelve month high of $68.11. The company has a market capitalization of $2.18 billion, a P/E ratio of 13.22 and a beta of 1.05.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.12. Banner had a return on equity of 10.22% and a net margin of 20.28%. The business had revenue of $213.90 million for the quarter, compared to the consensus estimate of $152.95 million. During the same period in the prior year, the business earned $1.43 earnings per share. Equities analysts forecast that Banner Co. will post 4.82 EPS for the current year.

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, November 5th. This represents a $1.92 annualized dividend and a yield of 3.04%. Banner’s dividend payout ratio (DPR) is presently 40.17%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. DA Davidson increased their price objective on shares of Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Stephens reiterated an “overweight” rating and issued a $53.00 price objective on shares of Banner in a report on Thursday, July 18th. Janney Montgomery Scott cut Banner from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Raymond James boosted their price target 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. Finally, Piper Sandler set a $67.00 price objective on shares of Banner in a research note on Thursday, October 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Banner presently has an average rating of “Hold” and an average target price of $61.60.

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.