Allspring Global Investments Holdings LLC increased its stake in shares of Banner Co. (NASDAQ:BANR – Free Report) by 16.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 154,544 shares of the financial services provider’s stock after purchasing an additional 21,310 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.45% of Banner worth $6,749,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of BANR. Cascade Investment Advisors Inc. raised its position in Banner by 4.6% in the second quarter. Cascade Investment Advisors Inc. now owns 18,545 shares of the financial services provider’s stock worth $810,000 after acquiring an additional 815 shares in the last quarter. Caldwell Sutter Capital Inc. raised its position in Banner by 2,882.7% in the second quarter. Caldwell Sutter Capital Inc. now owns 36,687 shares of the financial services provider’s stock worth $1,602,000 after acquiring an additional 35,457 shares in the last quarter. Denali Advisors LLC purchased a new position in Banner in the second quarter worth $651,000. Louisiana State Employees Retirement System increased its position in shares of Banner by 13.2% in the second quarter. Louisiana State Employees Retirement System now owns 18,000 shares of the financial services provider’s stock valued at $786,000 after buying an additional 2,100 shares in the last quarter. Finally, Foundry Partners LLC increased its position in shares of Banner by 10.8% in the second quarter. Foundry Partners LLC now owns 10,038 shares of the financial services provider’s stock valued at $438,000 after buying an additional 980 shares in the last quarter. 84.88% of the stock is owned by institutional investors and hedge funds.
Banner Stock Up 4.6 %
BANR opened at $43.52 on Friday. The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.49 billion, a P/E ratio of 7.68 and a beta of 1.01. Banner Co. has a 52 week low of $39.31 and a 52 week high of $73.87. The business’s fifty day simple moving average is $42.82 and its 200 day simple moving average is $45.03.
Banner Announces Dividend
Analyst Ratings Changes
A number of research analysts have recently weighed in on the company. StockNews.com assumed coverage on Banner in a research report on Thursday, October 5th. They issued a “sell” rating for the company. Stephens dropped their price target on Banner from $54.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, October 20th. Finally, Raymond James dropped their price target on Banner from $50.00 to $47.00 and set an “outperform” rating for the company in a research report on Friday, October 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $56.75.
Read Our Latest Analysis on BANR
About Banner
Banner Corporation operates as the bank holding company for Banner Bank that provide 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.
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