Short Interest in Banner Co. (NASDAQ:BANR) Drops By 20.7%

Banner Co. (NASDAQ:BANR) saw a significant drop in short interest in January. As of January 31st, there was short interest totalling 816,400 shares, a drop of 20.7% from the January 15th total of 1,030,000 shares. Based on an average trading volume of 224,200 shares, the short-interest ratio is currently 3.6 days. Approximately 2.4% of the company’s stock are short sold.

Banner Price Performance

BANR traded up $0.13 during trading on Friday, hitting $68.66. The company’s stock had a trading volume of 157,535 shares, compared to its average volume of 218,441. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 14.07 and a beta of 1.09. Banner has a 12 month low of $42.00 and a 12 month high of $78.05. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average price is $69.03 and its two-hundred day moving average price is $65.14.

Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.11. Banner had a return on equity of 10.03% and a net margin of 20.28%. Sell-side analysts forecast that Banner will post 5.22 earnings per share for the current fiscal year.

Banner Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date was Tuesday, February 4th. Banner’s dividend payout ratio is presently 39.34%.

Analyst Upgrades and Downgrades

BANR has been the topic of several research analyst reports. Stephens reaffirmed an “overweight” rating and set a $82.00 price target on shares of Banner in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, DA Davidson lifted their price target on shares of Banner from $73.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $74.20.

Institutional Investors Weigh In On Banner

Hedge funds have recently modified their holdings of the company. William Blair Investment Management LLC raised its position in shares of Banner by 10,213.3% in the 4th quarter. William Blair Investment Management LLC now owns 634,579 shares of the financial services provider’s stock worth $42,371,000 after acquiring an additional 628,426 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Banner by 79.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock worth $79,132,000 after purchasing an additional 588,591 shares during the period. Wellington Management Group LLP raised its holdings in shares of Banner by 12.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock worth $106,334,000 after purchasing an additional 193,434 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Banner in the 4th quarter worth approximately $10,023,000. Finally, FMR LLC raised its holdings in Banner by 395.4% during the 3rd quarter. FMR LLC now owns 166,120 shares of the financial services provider’s stock valued at $9,894,000 after acquiring an additional 132,586 shares during the period. Institutional investors and hedge funds own 87.33% of the company’s stock.

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.