476 Shares in Banner Co. (NASDAQ:BANR) Acquired by USA Financial Formulas

USA Financial Formulas bought a new stake in shares of Banner Co. (NASDAQ:BANR) in the 4th quarter, HoldingsChannel reports. The firm bought 476 shares of the financial services provider’s stock, valued at approximately $32,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BANR. Victory Capital Management Inc. raised its holdings in shares of Banner by 79.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock valued at $79,132,000 after buying an additional 588,591 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Banner by 12.2% during the third quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock worth $106,334,000 after acquiring an additional 193,434 shares in the last quarter. FMR LLC lifted its holdings in shares of Banner by 395.4% in the 3rd quarter. FMR LLC now owns 166,120 shares of the financial services provider’s stock worth $9,894,000 after acquiring an additional 132,586 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Banner by 18.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 795,929 shares of the financial services provider’s stock valued at $39,510,000 after purchasing an additional 123,903 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of Banner during the 3rd quarter valued at $6,477,000. Hedge funds and other institutional investors own 87.33% of the company’s stock.

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 completion of the transaction, the vice president now directly owns 21,868 shares of the company’s stock, valued at $1,653,876.84. This 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 at this link. Corporate insiders own 1.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on BANR. Keefe, Bruyette & Woods boosted their price target on shares of Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson increased 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. Raymond James lifted their price target on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Piper Sandler set a $67.00 price objective on Banner in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $67.00.

Banner Trading Up 0.4 %

BANR opened at $70.11 on Friday. Banner Co. has a one year low of $42.00 and a one year high of $78.05. 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 business has a 50 day simple moving average of $70.73 and a two-hundred day simple moving average of $62.85. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 14.67 and a beta of 1.09.

Banner (NASDAQ:BANR) last announced its 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. The company had revenue of $213.90 million during the quarter, compared to the consensus estimate of $152.95 million. Banner had a return on equity of 10.22% and a net margin of 20.28%. During the same quarter in the prior year, the company earned $1.43 earnings per share. Analysts predict that Banner Co. will post 4.88 EPS for the current year.

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a $0.48 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.92 annualized dividend and a yield of 2.74%. Banner’s dividend payout ratio (DPR) is presently 40.17%.

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.