Wellington Management Group LLP Has $106.33 Million Stock Holdings in Banner Co. (NASDAQ:BANR)

Wellington Management Group LLP increased its position in shares of Banner Co. (NASDAQ:BANR) by 12.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,785,319 shares of the financial services provider’s stock after acquiring an additional 193,434 shares during the quarter. Wellington Management Group LLP owned about 0.05% of Banner worth $106,334,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new stake in Banner during the 2nd quarter worth approximately $53,000. US Bancorp DE increased its position in shares of Banner by 287.1% during the third quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 1,065 shares in the last quarter. CWM LLC raised its holdings in shares of Banner by 60.1% during the second quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 715 shares during the period. Quest Partners LLC bought a new stake in Banner in the 2nd quarter valued at $152,000. Finally, Clear Creek Financial Management LLC acquired a new position in Banner in the 3rd quarter worth $209,000. Institutional investors own 87.33% of the company’s stock.

Banner Price Performance

Shares of BANR opened at $73.78 on Tuesday. 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 company’s fifty day simple moving average is $68.11 and its 200 day simple moving average is $58.65. Banner Co. has a 1-year low of $42.00 and a 1-year high of $78.05. The company has a market cap of $2.54 billion, a price-to-earnings ratio of 15.44 and a beta of 1.07.

Banner (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.12. Banner had a net margin of 20.28% and a return on equity of 10.22%. The company had revenue of $213.90 million for the quarter, compared to analyst estimates of $152.95 million. During the same period in the previous year, the business earned $1.43 EPS. On average, research analysts forecast that Banner Co. will post 4.88 earnings per share for the current fiscal year.

Banner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.60%. Banner’s payout ratio is 40.17%.

Insider Activity

In related news, VP James P.G. Mclean sold 1,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total value of $113,445.00. Following the sale, the vice president now owns 21,868 shares in the company, valued at approximately $1,653,876.84. This represents a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. DA Davidson boosted their price target on Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Raymond James raised 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. Piper Sandler set a $67.00 price objective on shares of Banner in a research report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $67.00.

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.