Channing Capital Management LLC Takes Position in Banner Co. (NASDAQ:BANR)

Channing Capital Management LLC acquired a new position in Banner Co. (NASDAQ:BANR) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 154,839 shares of the financial services provider’s stock, valued at approximately $8,293,000. Channing Capital Management LLC owned about 0.45% of Banner at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of BANR. Victory Capital Management Inc. raised its position in shares of Banner by 247.2% during the fourth quarter. Victory Capital Management Inc. now owns 641,701 shares of the financial services provider’s stock worth $34,370,000 after acquiring an additional 456,868 shares during the last quarter. Numerai GP LLC raised its stake in shares of Banner by 131.1% during the third quarter. Numerai GP LLC now owns 98,819 shares of the financial services provider’s stock worth $4,188,000 after buying an additional 56,067 shares during the last quarter. abrdn plc lifted its holdings in Banner by 12.3% in the fourth quarter. abrdn plc now owns 428,293 shares of the financial services provider’s stock valued at $22,939,000 after buying an additional 46,938 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Banner by 4.6% in 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 acquiring an additional 42,871 shares during the last quarter. Finally, American Century Companies Inc. grew its holdings in Banner by 13.5% during the 3rd quarter. American Century Companies Inc. now owns 315,039 shares of the financial services provider’s stock worth $13,351,000 after acquiring an additional 37,543 shares during the period. Institutional investors and hedge funds own 87.33% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Banner Stock Up 2.1 %

Shares of Banner stock traded up $0.97 on Friday, hitting $46.24. The company had a trading volume of 133,021 shares, compared to its average volume of 178,606. The stock has a 50-day moving average of $45.47 and a 200-day moving average of $46.63. 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 twelve month low of $39.31 and a twelve month high of $55.66. The firm has a market capitalization of $1.59 billion, a P/E ratio of 9.61 and a beta of 1.04.

Banner Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Tuesday, April 30th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.15%. The ex-dividend date of this dividend is Monday, April 29th. Banner’s payout ratio is presently 39.92%.

Banner Company 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.