James P.G. Mclean Sells 1,500 Shares of Banner Co. (NASDAQ:BANR) Stock

Banner Co. (NASDAQ:BANR - Get Free Report) VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total value of $113,445.00. Following the completion of the transaction, the vice president now owns 21,868 shares in the company, valued at $1,653,876.84. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Banner Stock Down 4.4 %

NASDAQ:BANR traded down $3.26 on Thursday, reaching $71.52. The stock had a trading volume of 372,165 shares, compared to its average volume of 199,215. The company has a 50-day moving average of $61.35 and a 200 day moving average of $54.23. 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 $2.46 billion, a P/E ratio of 15.14 and a beta of 1.04. Banner Co. has a 12-month low of $41.92 and a 12-month high of $75.88.

Banner (NASDAQ:BANR - Get Free Report) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 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 firm had revenue of $213.90 million during the quarter, compared to the consensus estimate of $152.95 million. During the same quarter in the prior year, the business posted $1.43 earnings per share. On average, research analysts predict that Banner Co. will post 4.82 earnings per share for the current year.

Banner Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Tuesday, November 5th. Banner's payout ratio is currently 40.17%.

Institutional Trading of Banner

Several institutional investors have recently added to or reduced their stakes in BANR. Natixis Advisors LLC acquired a new position in Banner during the 3rd quarter worth $623,000. Empowered Funds LLC lifted its position in shares of Banner by 5.3% during the third quarter. Empowered Funds LLC now owns 92,695 shares of the financial services provider's stock worth $5,521,000 after purchasing an additional 4,690 shares during the last quarter. Victory Capital Management Inc. grew its stake in Banner by 79.5% in the third quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider's stock worth $79,132,000 after purchasing an additional 588,591 shares in the last quarter. Versor Investments LP acquired a new position in Banner in the third quarter worth about $439,000. Finally, Harbor Capital Advisors Inc. increased its holdings in Banner by 7.4% in the third quarter. Harbor Capital Advisors Inc. now owns 10,477 shares of the financial services provider's stock valued at $624,000 after buying an additional 718 shares during the last quarter. 87.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

About Banner

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.