Nordea Investment Management AB buys 3,433 shares of Banner Co. (NASDAQ: BANR)
Nordea Investment Management AB increased its stake in Banner Co. (NASDAQ: BANR – Get Rating) by 3.0% during the first quarter, according to the company in its most recent Form 13F filed with the Securities and Exchange Commission. The fund held 116,193 shares of the financial services provider after buying an additional 3,433 shares during the period. Nordea Investment Management AB’s holdings in Banner were worth $6,904,000 at the end of the last quarter.
Other hedge funds and other institutional investors have also been buying and selling shares of the company recently. Acadian Asset Management LLC bought a new position in Banner stock in the fourth quarter worth approximately $35,000. Orchard Capital Management LLC bought a new position in Banner stock in the fourth quarter worth approximately $204,000. Clear Creek Financial Management LLC purchased a new position in Banner stock in the fourth quarter at a value of approximately $213,000. National Bank Baker Boyer bought a new position in shares of Banner in the fourth quarter for a value of approximately $243,000. Finally, Advisor Group Holdings Inc. increased its holdings of Banner shares by 81.8% in the fourth quarter. Advisor Group Holdings Inc. now owns 4,028 shares of the financial services provider worth $244,000 after buying an additional 1,812 shares in the last quarter. Hedge funds and other institutional investors own 85.00% of the company’s shares.
BANR has been the subject of a number of research analyst reports. Stephens downgraded Banner shares from an “equal weight” rating to an “overweight” rating and raised his price target for the stock from $66.00 to $67.00 in a Friday report June 17. StockNews.com began covering Banner shares in a research note on Thursday, March 31. They issued a “holding” rating for the company. Finally, Raymond James lowered his price target on Banner shares from $72.00 to $70.00 and set a “Strong Buy” rating for the company in a Friday, April 22 research note.
Separately, director Roberto R. Herencia purchased 1,800 shares of the company in a transaction on Monday, May 2. The shares were acquired at an average cost of $54.73 per share, with a total value of $98,514.00. Following completion of the transaction, the administrator now owns 8,628 shares of the company, valued at approximately $472,210.44. The purchase was disclosed in a filing with the SEC, accessible via this hyperlink. Company insiders hold 1.46% of the company’s shares.
NASDAQ:BANR opened at $55.89 on Friday. Banner Co. has a 1-year low of $49.10 and a 1-year high of $66.79. The company has a 50-day moving average of $56.21 and a 200-day moving average of $51.54. The company has a market capitalization of $1.92 billion, a PE ratio of 9.79 and a beta of 1.03. The company has a debt ratio of 0.28, a current ratio of 0.78 and a quick ratio of 0.77.
Banner (NASDAQ:BANR – Get Rating) last released its quarterly earnings data on Wednesday, April 20. The financial services provider reported earnings per share of $1.33 for the quarter, beating analysts’ consensus estimate of $1.09 by $0.24. The company posted revenue of $138.08 million in the quarter, versus analyst estimates of $136.20 million. Banner had a net margin of 32.46% and a return on equity of 12.47%. In the same period a year earlier, the company earned earnings per share of $1.33. Sell-side analysts expect Banner Co. to post 5.21 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 13. Shareholders of record on Tuesday, May 3 received a dividend of $0.44 per share. This represents an annualized dividend of $1.76 and a dividend yield of 3.15%. The ex-dividend date was Monday, May 2. Banner’s payout ratio is 30.82%.
Banner Profile (Get an assessment)
Banner Corporation operates as a bank holding company for Banner Bank which provides 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 cash management services and savings plans. pension saving.
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