Cibc World Markets Corp Invests $214,000 in Banner Co. (NASDAQ:BANR)

Cibc World Markets Corp purchased a new stake in shares of Banner Co. (NASDAQ:BANR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 3,212 shares of the financial services provider’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Natixis Advisors LLC purchased a new position in shares of Banner during the third quarter valued at approximately $623,000. Intech Investment Management LLC boosted its holdings in Banner by 36.2% in the third quarter. Intech Investment Management LLC now owns 10,812 shares of the financial services provider’s stock valued at $644,000 after acquiring an additional 2,872 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Banner by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,330,064 shares of the financial services provider’s stock valued at $79,219,000 after purchasing an additional 43,398 shares during the period. Citigroup Inc. raised its holdings in Banner by 11.6% in the 3rd quarter. Citigroup Inc. now owns 65,472 shares of the financial services provider’s stock worth $3,900,000 after purchasing an additional 6,790 shares in the last quarter. Finally, FMR LLC lifted its position in shares of Banner by 395.4% in the 3rd quarter. FMR LLC now owns 166,120 shares of the financial services provider’s stock worth $9,894,000 after purchasing an additional 132,586 shares during the period. Institutional investors own 87.33% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on BANR. DA Davidson boosted their price target on shares of Banner from $73.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods increased their target price on Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Stephens restated an “overweight” rating and set a $82.00 price target on shares of Banner in a research report on Thursday, January 23rd. One 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. According to MarketBeat.com, Banner has a consensus rating of “Hold” and a consensus target price of $74.20.

Banner Stock Performance

Banner stock opened at $64.65 on Thursday. Banner Co. has a twelve month low of $42.00 and a twelve 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 company has a market capitalization of $2.23 billion, a P/E ratio of 13.25 and a beta of 1.07. The stock’s 50 day moving average is $67.70 and its 200 day moving average is $66.99.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 EPS for the quarter, topping 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%. On average, equities research analysts predict that Banner Co. will post 5.23 earnings per share for the current fiscal year.

Banner Dividend Announcement

The company 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. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $1.92 annualized dividend and a yield of 2.97%. Banner’s dividend payout ratio (DPR) is presently 39.34%.

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.