Picton Mahoney Asset Management Boosts Holdings in Banner Co. (NASDAQ:BANR)

Picton Mahoney Asset Management raised its position in Banner Co. (NASDAQ:BANR) by 56.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,820 shares of the financial services provider’s stock after purchasing an additional 1,736 shares during the period. Picton Mahoney Asset Management’s holdings in Banner were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BANR. Wellington Management Group LLP boosted its stake in Banner by 12.2% during the third quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock valued at $106,334,000 after buying an additional 193,434 shares during the period. Victory Capital Management Inc. boosted its position in shares of Banner by 28.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,701,653 shares of the financial services provider’s stock valued at $113,619,000 after acquiring an additional 373,037 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Banner by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,379,521 shares of the financial services provider’s stock worth $92,111,000 after purchasing an additional 49,457 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Banner by 1.5% during the third quarter. Geode Capital Management LLC now owns 823,763 shares of the financial services provider’s stock worth $49,073,000 after purchasing an additional 11,808 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Banner by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 409,885 shares of the financial services provider’s stock worth $24,413,000 after purchasing an additional 29,174 shares during the last quarter. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Banner Price Performance

BANR stock opened at $64.01 on Monday. The firm has a market cap of $2.21 billion, a P/E ratio of 13.12 and a beta of 1.07. The firm’s fifty day moving average is $68.08 and its 200 day moving average is $66.70. Banner Co. has a 52 week low of $42.00 and a 52 week high of $78.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.86.

Banner (NASDAQ:BANR) last announced its quarterly earnings data 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%. Research analysts predict that Banner Co. will post 5.23 earnings per share for the current year.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were given a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $1.92 annualized dividend and a yield of 3.00%. Banner’s payout ratio is currently 39.34%.

Analyst Ratings Changes

A number of equities analysts have commented on BANR shares. DA Davidson boosted their price target on shares of Banner from $73.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Stephens reiterated an “overweight” rating and issued a $82.00 target price on shares of Banner in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods raised their price target on Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Banner currently has an average rating of “Hold” and a consensus price target of $74.20.

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.