Cascade Investment Advisors Inc. Purchases 4,150 Shares of Banner Co. (NASDAQ:BANR)

Cascade Investment Advisors Inc. grew its position in Banner Co. (NASDAQ:BANR) by 24.1% in the first quarter, Holdings Channel.com reports. The fund owned 21,385 shares of the financial services provider’s stock after buying an additional 4,150 shares during the period. Cascade Investment Advisors Inc.’s holdings in Banner were worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the company. Victory Capital Management Inc. raised its holdings in shares of Banner by 247.2% in the 4th quarter. Victory Capital Management Inc. now owns 641,701 shares of the financial services provider’s stock worth $34,370,000 after buying an additional 456,868 shares in the last quarter. Norges Bank acquired a new position in shares of Banner in the 4th quarter worth approximately $12,097,000. Hsbc Holdings PLC increased its holdings in Banner by 2,700.2% during the 4th quarter. Hsbc Holdings PLC now owns 221,243 shares of the financial services provider’s stock valued at $11,861,000 after purchasing an additional 213,342 shares in the last quarter. Channing Capital Management LLC acquired a new stake in Banner during the 4th quarter valued at $8,293,000. Finally, The Manufacturers Life Insurance Company raised its position in Banner by 9.3% in the 4th quarter. The Manufacturers Life Insurance Company now owns 820,511 shares of the financial services provider’s stock valued at $43,947,000 after purchasing an additional 70,143 shares during the last quarter. Institutional investors own 87.33% of the company’s stock.

Banner Trading Down 1.0 %

Shares of BANR stock traded down $0.48 on Thursday, reaching $45.46. 210,606 shares of the stock were exchanged, compared to its average volume of 186,769. The stock has a market cap of $1.57 billion, a PE ratio of 9.45 and a beta of 1.04. Banner Co. has a one year low of $39.31 and a one year high of $55.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.82. The stock has a 50 day moving average price of $45.75 and a 200 day moving average price of $47.00.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, April 17th. The financial services provider reported $1.22 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. The company had revenue of $144.55 million during the quarter, compared to the consensus estimate of $150.67 million. Banner had a return on equity of 11.47% and a net margin of 21.62%. Equities research analysts forecast that Banner Co. will post 4.72 EPS for the current fiscal year.

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Tuesday, April 30th were paid a dividend of $0.48 per share. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.22%. Banner’s dividend payout ratio (DPR) is presently 39.92%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Piper Sandler cut their price objective on Banner from $54.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Stephens cut their price objective on Banner from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. DA Davidson cut their price objective on Banner from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. Finally, StockNews.com upgraded Banner from a “sell” rating to a “hold” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $51.20.

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.