Foundry Partners LLC Lowers Holdings in Banner Co. (NASDAQ:BANR)

Foundry Partners LLC trimmed its holdings in Banner Co. (NASDAQ:BANR) by 20.7% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,445 shares of the financial services provider’s stock after selling 1,685 shares during the period. Foundry Partners LLC’s holdings in Banner were worth $345,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BANR. Carmel Capital Partners LLC purchased a new position in Banner in the third quarter worth approximately $25,000. CWM LLC grew its position in Banner by 923.0% in the third quarter. CWM LLC now owns 757 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 683 shares during the period. Exchange Traded Concepts LLC purchased a new position in Banner in the third quarter worth approximately $34,000. Federated Hermes Inc. purchased a new position in Banner in the third quarter worth approximately $45,000. Finally, Nisa Investment Advisors LLC grew its position in Banner by 19.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,535 shares of the financial services provider’s stock worth $82,000 after acquiring an additional 245 shares during the period. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BANR. DA Davidson lowered their price target on Banner from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday. Stephens lowered their price target on Banner from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday. Raymond James raised their price target on Banner from $47.00 to $51.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods lowered their price target on Banner from $58.00 to $54.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Finally, Piper Sandler lowered 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. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $51.20.

Banner Trading Up 0.6 %

NASDAQ:BANR opened at $45.22 on Tuesday. The firm has a market cap of $1.55 billion, a PE ratio of 9.40 and a beta of 1.03. The stock has a fifty day moving average price of $45.36 and a 200 day moving average price of $46.54. Banner Co. has a 12-month low of $39.31 and a 12-month high of $55.66. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24.

Banner Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Tuesday, April 30th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a yield of 4.25%. Banner’s dividend payout ratio (DPR) is presently 39.92%.

Banner Profile

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.