Banner Co. (NASDAQ:BANR) Stock Position Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in Banner Co. (NASDAQ:BANR - Free Report) by 79.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,328,616 shares of the financial services provider's stock after purchasing an additional 588,591 shares during the period. Victory Capital Management Inc. owned approximately 3.86% of Banner worth $79,132,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets grew its stake in Banner by 35.0% during the first quarter. BNP Paribas Financial Markets now owns 28,817 shares of the financial services provider's stock worth $1,383,000 after buying an additional 7,467 shares during the period. Texas Permanent School Fund Corp raised its position in Banner by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 30,061 shares of the financial services provider's stock valued at $1,443,000 after purchasing an additional 389 shares during the period. Quantbot Technologies LP acquired a new position in shares of Banner during the first quarter worth about $291,000. SG Americas Securities LLC purchased a new stake in shares of Banner in the first quarter worth about $202,000. Finally, Sei Investments Co. grew its stake in shares of Banner by 1.7% in the first quarter. Sei Investments Co. now owns 138,109 shares of the financial services provider's stock valued at $6,629,000 after buying an additional 2,348 shares in the last quarter. 87.33% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total value of $113,445.00. Following the sale, the vice president now owns 21,868 shares of the company's stock, valued at $1,653,876.84. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Raymond James boosted their price target on Banner from $62.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. Stephens reissued an "overweight" rating and issued a $53.00 price objective on shares of Banner in a research report on Thursday, July 18th. DA Davidson lifted their target price on Banner from $60.00 to $69.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Piper Sandler set a $67.00 price target on Banner in a report on Thursday, October 17th. Finally, Janney Montgomery Scott downgraded Banner from a "buy" rating to a "neutral" rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $61.60.

Banner Stock Down 0.2 %

Banner stock traded down $0.18 during midday trading on Thursday, hitting $73.41. The stock had a trading volume of 113,933 shares, compared to its average volume of 199,505. Banner Co. has a 12 month low of $42.00 and a 12 month high of $77.01. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. The stock has a market cap of $2.53 billion, a P/E ratio of 15.40 and a beta of 1.04. The business has a fifty day moving average price of $62.80 and a 200 day moving average price of $55.21.

Banner (NASDAQ:BANR - Get Free Report) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $152.95 million. During the same period in the prior year, the company earned $1.43 earnings per share. Research analysts predict that Banner Co. will post 4.88 EPS for the current year.

Banner Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be paid a $0.48 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a yield of 2.62%. Banner's payout ratio is currently 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.