State Street Discloses 6.9% Passive Stake in Banner Corp
Ticker: BANR · Form: SC 13G · Filed: Jan 24, 2024 · CIK: 946673
| Field | Detail |
|---|---|
| Company | Banner Corp (BANR) |
| Form Type | SC 13G |
| Filed Date | Jan 24, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, passive-investment, SC-13G
TL;DR
**State Street just revealed a 6.9% passive stake in Banner Corp, a bullish sign for the stock.**
AI Summary
State Street Corporation, a major financial institution, filed an initial SC 13G on January 24, 2024, disclosing its ownership of 2,360,784 shares of Banner Corp's common stock as of December 31, 2023. This represents a 6.9% stake in Banner Corp, making State Street a significant passive investor. This matters to shareholders because it signals a large institutional investor's confidence in Banner Corp, potentially providing a floor for the stock price and indicating a stable ownership base.
Why It Matters
A large institutional investor like State Street holding a significant passive stake can lend credibility to Banner Corp and potentially reduce stock volatility.
Risk Assessment
Risk Level: low — This filing indicates a passive investment by a large institution, which generally reduces risk by providing stability.
Analyst Insight
A smart investor would view this as a positive signal, suggesting institutional confidence in Banner Corp, and might consider further research into Banner Corp's fundamentals.
Key Numbers
- 2,360,784 — Shares Owned (The total number of Banner Corp common shares beneficially owned by State Street Corporation.)
- 6.9% — Ownership Percentage (The percentage of Banner Corp's common stock outstanding that State Street Corporation beneficially owns.)
- 12/31/2023 — Event Date (The date as of which State Street Corporation's ownership triggered the filing requirement.)
Key Players & Entities
- State Street Corporation (company) — the reporting person and institutional investor
- Banner Corp (company) — the subject company whose shares are being reported
- 2,360,784 (dollar_amount) — number of shares of common stock beneficially owned
- 6.9% (dollar_amount) — percentage of class outstanding beneficially owned
- December 31, 2023 (date) — date of event requiring the filing
Forward-Looking Statements
- State Street Corporation will maintain its passive stake in Banner Corp for the foreseeable future. (State Street Corporation) — high confidence, target: 12/31/2024
FAQ
What is the purpose of State Street Corporation's investment in Banner Corp?
The filing indicates that State Street Corporation's investment is for passive purposes, as it checked Rule 13D-1(B), which is used by institutional investors who do not intend to influence or control the issuer.
When was this SC 13G filing submitted to the SEC?
This SC 13G filing was submitted on January 24, 2024, as indicated by the 'FILED AS OF DATE: 20240124' in the filing header.
What is the CUSIP number for Banner Corp's common stock mentioned in the filing?
The CUSIP number for Banner Corp's common stock is 06652V208, as stated on the cover page of the SC 13G filing.
Where is Banner Corp's business address located according to the filing?
Banner Corp's business address is 10 S First Avenue, Walla Walla, WA 99362, as listed under the 'SUBJECT COMPANY' data in the filing.
What type of company is Banner Corp classified as by the SEC?
Banner Corp is classified under 'STANDARD INDUSTRIAL CLASSIFICATION: STATE COMMERCIAL BANKS [6022]', according to the 'SUBJECT COMPANY' data in the filing.
Filing Details
This Form SC 13G (Form SC 13G) was filed with the SEC on January 24, 2024 regarding BANNER CORP (BANR).