Edgestream Partners L.P. Makes New $4.93 Million Investment in Banner Co. (NASDAQ:BANR)

Edgestream Partners L.P. acquired a new stake in Banner Co. (NASDAQ:BANR) during the first quarter, HoldingsChannel reports. The firm acquired 102,734 shares of the financial services provider’s stock, valued at approximately $4,931,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its stake 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 acquiring an additional 40,988 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Banner by 2.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,257,865 shares of the financial services provider’s stock worth $120,934,000 after purchasing an additional 62,774 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Banner by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 988,426 shares of the financial services provider’s stock worth $52,940,000 after acquiring an additional 21,447 shares during the period. The Manufacturers Life Insurance Company lifted its position in Banner by 9.3% in the fourth 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 period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Banner by 2.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 700,254 shares of the financial services provider’s stock valued at $37,506,000 after buying an additional 20,041 shares during the period. Institutional investors and hedge funds own 87.33% of the company’s stock.

Wall Street Analyst Weigh In

BANR has been the topic of a number of recent analyst reports. Janney Montgomery Scott cut shares of Banner from a “buy” rating to a “neutral” rating in a research note on Friday. StockNews.com cut shares of Banner from a “hold” rating to a “sell” rating in a research note on Saturday, June 8th. Piper Sandler lifted their target price on shares of Banner from $51.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday. DA Davidson lowered their price target on shares of Banner from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Finally, Stephens restated an “overweight” rating and set a $53.00 price objective on shares of Banner in a research report on Thursday. 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 company. According to MarketBeat, Banner has a consensus rating of “Hold” and a consensus price target of $54.00.

Banner Trading Up 1.7 %

NASDAQ:BANR traded up $0.99 on Monday, reaching $59.15. The stock had a trading volume of 413,741 shares, compared to its average volume of 192,624. The company has a market cap of $2.04 billion, a price-to-earnings ratio of 12.09 and a beta of 1.06. Banner Co. has a 12-month low of $39.31 and a 12-month high of $61.34. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.85 and a quick ratio of 0.82. The firm’s fifty day moving average is $48.25 and its two-hundred day moving average is $46.97.

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Tuesday, August 6th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.92 dividend on an annualized basis and a yield of 3.25%. Banner’s dividend payout ratio (DPR) is currently 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.