Stieven Capital Advisors L.P. Sells 12,200 Shares of Banner Co. (NASDAQ:BANR)

Stieven Capital Advisors L.P. trimmed its stake in Banner Co. (NASDAQ:BANR - Free Report) by 5.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 218,056 shares of the financial services provider's stock after selling 12,200 shares during the quarter. Banner accounts for 2.5% of Stieven Capital Advisors L.P.'s portfolio, making the stock its 16th largest position. Stieven Capital Advisors L.P. owned about 0.63% of Banner worth $12,987,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in BANR. Louisiana State Employees Retirement System increased its position in Banner by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the financial services provider's stock worth $859,000 after purchasing an additional 300 shares during the last quarter. CWM LLC increased its holdings in Banner by 19.5% in the third quarter. CWM LLC now owns 2,275 shares of the financial services provider's stock worth $136,000 after buying an additional 371 shares during the last quarter. ProShare Advisors LLC increased its holdings in Banner by 7.4% in the first quarter. ProShare Advisors LLC now owns 6,906 shares of the financial services provider's stock worth $331,000 after buying an additional 475 shares during the last quarter. Diversified Trust Co raised its position in Banner by 4.8% during the second quarter. Diversified Trust Co now owns 10,382 shares of the financial services provider's stock valued at $515,000 after acquiring an additional 476 shares in the last quarter. Finally, EntryPoint Capital LLC lifted its stake in Banner by 100.9% in the first quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 558 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Banner Stock Performance

Shares of NASDAQ:BANR traded up $0.11 during midday trading on Friday, hitting $73.52. The company's stock had a trading volume of 142,449 shares, compared to its average volume of 225,637. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85. The stock's 50 day simple moving average is $63.43 and its 200 day simple moving average is $55.70. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 15.38 and a beta of 1.04. Banner Co. has a fifty-two week low of $42.00 and a fifty-two week high of $77.01.

Banner (NASDAQ:BANR - Get Free Report) last released its 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 firm had revenue of $213.90 million for the quarter, compared to analyst estimates of $152.95 million. During the same quarter last year, the firm posted $1.43 EPS. As a group, research analysts anticipate that Banner Co. will post 4.88 earnings per share for the current year.

Banner Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.61%. The ex-dividend date was Tuesday, November 5th. Banner's payout ratio is currently 40.17%.

Insider Buying and Selling at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction dated Wednesday, November 6th. The stock was 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 $1,653,876.84. This trade represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently commented on BANR. Raymond James increased 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. Piper Sandler set a $67.00 target price on shares of Banner in a research report on Thursday, October 17th. Finally, DA Davidson raised their target price on Banner from $60.00 to $69.00 and gave the company a "neutral" rating in a report on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently 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.