Natixis Advisors LLC Makes New Investment in Banner Co. (NASDAQ:BANR)

Natixis Advisors LLC purchased a new position in Banner Co. (NASDAQ:BANR - Free Report) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 10,461 shares of the financial services provider's stock, valued at approximately $623,000.

Several other institutional investors have also made changes to their positions in BANR. Innealta Capital LLC bought a new position in shares of Banner in the second quarter worth about $53,000. US Bancorp DE raised its stake in shares of Banner by 287.1% in the third quarter. US Bancorp DE now owns 1,436 shares of the financial services provider's stock worth $86,000 after acquiring an additional 1,065 shares during the last quarter. CWM LLC raised its stake in shares of Banner by 60.1% in the second quarter. CWM LLC now owns 1,904 shares of the financial services provider's stock worth $94,000 after acquiring an additional 715 shares during the last quarter. Quest Partners LLC bought a new position in shares of Banner in the second quarter worth about $152,000. Finally, Clear Creek Financial Management LLC bought a new position in shares of Banner in the third quarter worth about $209,000. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. DA Davidson boosted their price target on shares of Banner from $60.00 to $69.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Piper Sandler set a $67.00 price target on shares of Banner in a research note on Thursday, October 17th. Finally, Raymond James boosted their price target on shares of Banner from $62.00 to $65.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 2nd. One investment 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's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $61.60.

Insider Buying and Selling

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the company's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total transaction of $113,445.00. Following the sale, the vice president now directly owns 21,868 shares of the company's stock, valued at approximately $1,653,876.84. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

Banner Stock Down 0.3 %

Shares of Banner stock traded down $0.25 on Thursday, hitting $75.27. The company had a trading volume of 165,558 shares, compared to its average volume of 198,511. The firm has a market capitalization of $2.59 billion, a P/E ratio of 15.75 and a beta of 1.04. Banner Co. has a twelve month low of $42.00 and a twelve month high of $78.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a 50-day moving average of $66.10 and a 200-day moving average of $57.20.

Banner (NASDAQ:BANR - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.12. Banner had a net margin of 20.28% and a return on equity of 10.22%. The company had revenue of $213.90 million during the quarter, compared to analysts' expectations of $152.95 million. During the same quarter in the prior year, the company earned $1.43 earnings per share. Research analysts predict that Banner Co. will post 4.88 earnings per share for the current year.

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend was Tuesday, November 5th. Banner's payout ratio is 40.17%.

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.