Banner Co. (NASDAQ:BANR) Short Interest Down 19.7% in April

Banner Co. (NASDAQ:BANR) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totalling 705,100 shares, a decline of 19.7% from the March 31st total of 878,500 shares. Based on an average daily volume of 199,400 shares, the days-to-cover ratio is presently 3.5 days. Approximately 2.1% of the company’s shares are sold short.

Banner Stock Down 0.0 %

Shares of BANR stock traded down $0.02 on Friday, reaching $45.36. 109,740 shares of the stock were exchanged, compared to its average volume of 171,197. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. The business’s 50 day moving average price is $45.45 and its 200 day moving average price is $46.57. The company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 9.43 and a beta of 1.03. Banner has a twelve month low of $39.31 and a twelve month high of $55.66.

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Tuesday, April 30th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.92 annualized dividend and a yield of 4.23%. Banner’s dividend payout ratio is presently 39.92%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. DA Davidson cut their target price on Banner from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. Stephens cut their target price on Banner from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Raymond James boosted their target price on Banner from $47.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods cut their price objective on Banner from $58.00 to $54.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. Finally, Piper Sandler cut their price objective on Banner from $54.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Banner has an average rating of “Moderate Buy” and an average target price of $51.20.

Hedge Funds Weigh In On Banner

Large investors have recently bought and sold shares of the stock. Carmel Capital Partners LLC acquired a new stake in shares of Banner during the third quarter worth about $25,000. CWM LLC raised its holdings in Banner by 923.0% during the third quarter. CWM LLC now owns 757 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 683 shares in the last quarter. Exchange Traded Concepts LLC purchased a new position in Banner during the third quarter worth about $34,000. TFO Wealth Partners LLC increased its stake in shares of Banner by 35,800.0% during the 4th quarter. TFO Wealth Partners LLC now owns 718 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 716 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in shares of Banner during the 3rd quarter worth approximately $45,000. Institutional investors and hedge funds own 87.33% of the company’s stock.

Banner Company 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.