Intech Investment Management LLC Purchases 5,643 Shares of Banner Co. (NASDAQ:BANR)

Intech Investment Management LLC increased its position in Banner Co. (NASDAQ:BANR) by 52.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 16,455 shares of the financial services provider’s stock after purchasing an additional 5,643 shares during the quarter. Intech Investment Management LLC’s holdings in Banner were worth $1,099,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Foundry Partners LLC raised its holdings in shares of Banner by 2.3% in the 3rd quarter. Foundry Partners LLC now owns 6,194 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 137 shares during the period. Captrust Financial Advisors raised its holdings in shares of Banner by 3.0% in the 3rd quarter. Captrust Financial Advisors now owns 5,443 shares of the financial services provider’s stock valued at $324,000 after purchasing an additional 160 shares during the period. US Bancorp DE raised its holdings in Banner by 21.8% in the 4th quarter. US Bancorp DE now owns 1,749 shares of the financial services provider’s stock valued at $117,000 after acquiring an additional 313 shares during the period. Smartleaf Asset Management LLC raised its holdings in Banner by 167.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 705 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 441 shares during the period. Finally, USA Financial Formulas bought a new position in Banner in the 4th quarter valued at about $32,000. 87.33% of the stock is owned by institutional investors.

Banner Stock Performance

Shares of NASDAQ:BANR opened at $63.77 on Friday. The company’s 50 day moving average price is $67.89 and its two-hundred day moving average price is $66.83. Banner Co. has a 12-month low of $42.00 and a 12-month high of $78.05. The firm has a market cap of $2.20 billion, a PE ratio of 13.07 and a beta of 1.07. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.11. Banner had a net margin of 20.28% and a return on equity of 10.03%. Equities research analysts predict that Banner Co. will post 5.23 earnings per share for the current 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 given a dividend of $0.48 per share. The ex-dividend date was Tuesday, February 4th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.01%. Banner’s payout ratio is presently 39.34%.

Wall Street Analysts Forecast Growth

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