Eagle Asset Management Inc. Acquires Shares of 108,751 Banner Co. (NASDAQ:BANR)

Eagle Asset Management Inc. bought a new stake in shares of Banner Co. (NASDAQ:BANR - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 108,751 shares of the financial services provider's stock, valued at approximately $6,477,000. Eagle Asset Management Inc. owned 0.32% of Banner as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in shares of Banner by 3.4% in the third 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. Foundry Partners LLC increased its stake in Banner by 2.3% during the 3rd quarter. Foundry Partners LLC now owns 6,194 shares of the financial services provider's stock worth $369,000 after buying an additional 137 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Banner by 36.2% during 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 during the last quarter. Princeton Capital Management LLC purchased a new position in shares of Banner in the third quarter valued at approximately $255,000. Finally, Natixis Advisors LLC purchased a new stake in shares of Banner during the third quarter worth approximately $623,000. Institutional investors and hedge funds own 87.33% of the company's stock.

Banner Stock Up 1.0 %

Shares of Banner stock traded up $0.79 during trading hours on Monday, reaching $76.26. 282,843 shares of the company were exchanged, compared to its average volume of 198,750. The firm has a market cap of $2.63 billion, a PE ratio of 15.79 and a beta of 1.04. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85. Banner Co. has a 1 year low of $42.00 and a 1 year high of $78.05. The stock's fifty day moving average is $65.08 and its 200 day moving average is $56.66.

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

Banner Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.52%. Banner's payout ratio is 40.17%.

Insider Transactions at Banner

In other news, VP James P.G. Mclean sold 1,500 shares of the business's stock in a transaction that occurred 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 completion of the sale, the vice president now owns 21,868 shares in the company, valued at approximately $1,653,876.84. The trade was a 6.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 1.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. DA Davidson upped their target price on shares of Banner from $60.00 to $69.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Raymond James upped their price objective on shares of Banner from $62.00 to $65.00 and gave the company an "outperform" rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler set a $67.00 target price on shares of Banner in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $61.60.

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.