Systematic Financial Management LP bought a new position in shares of Banner Co. (NASDAQ:BANR - Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 9,307 shares of the financial services provider's stock, valued at approximately $554,000.
Several other institutional investors and hedge funds also recently bought and sold shares of BANR. Innealta Capital LLC purchased a new stake in shares of Banner during the 2nd quarter valued at approximately $53,000. US Bancorp DE raised its position in Banner by 287.1% in the third quarter. US Bancorp DE now owns 1,436 shares of the financial services provider's stock valued at $86,000 after purchasing an additional 1,065 shares during the period. CWM LLC lifted its stake in shares of Banner by 60.1% in the 2nd quarter. CWM LLC now owns 1,904 shares of the financial services provider's stock valued at $94,000 after purchasing an additional 715 shares during the last quarter. Quest Partners LLC purchased a new position in shares of Banner during the 2nd quarter worth $152,000. Finally, Clear Creek Financial Management LLC purchased a new position in shares of Banner during the 3rd quarter worth $209,000. 87.33% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
BANR has been the topic of a number of recent analyst reports. Piper Sandler set a $67.00 target price on shares of Banner in a research report on Thursday, October 17th. DA Davidson upped their price objective on shares of Banner from $60.00 to $69.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Keefe, Bruyette & Woods increased their price objective on shares of Banner from $69.00 to $81.00 and gave the stock a "market perform" rating in a research report on Wednesday. Finally, Raymond James boosted their target price on Banner from $62.00 to $65.00 and gave the company an "outperform" rating in a research report on Wednesday, October 2nd. One equities 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, the stock presently has a consensus rating of "Hold" and a consensus target price of $67.00.
Get Our Latest Research Report on BANR
Insiders Place Their Bets
In other Banner 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 transaction, the vice president now owns 21,868 shares in the company, valued at $1,653,876.84. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.60% of the stock is owned by company insiders.
Banner Stock Up 2.4 %
Shares of NASDAQ BANR traded up $1.73 during midday trading on Friday, hitting $75.26. The company's stock had a trading volume of 180,734 shares, compared to its average volume of 179,063. 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 firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of 15.74 and a beta of 1.07. The business's fifty day simple moving average is $68.11 and its two-hundred day simple moving average is $58.47. Banner Co. has a 1 year low of $42.00 and a 1 year high of $78.05.
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, topping analysts' consensus estimates of $1.18 by $0.12. The company had revenue of $213.90 million for the quarter, compared to analyst estimates of $152.95 million. Banner had a net margin of 20.28% and a return on equity of 10.22%. During the same period in the prior year, the business earned $1.43 EPS. On average, equities 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 was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a dividend of $0.48 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.92 annualized dividend and a yield of 2.55%. Banner's payout ratio is 40.17%.
About Banner
(
Free Report)
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.
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