Banner Co. (NASDAQ:BANR) Holdings Lowered by Petiole USA ltd

Petiole USA ltd cut its stake in Banner Co. (NASDAQ:BANR) by 31.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,882 shares of the financial services provider’s stock after selling 19,500 shares during the period. Banner makes up approximately 1.7% of Petiole USA ltd’s investment portfolio, making the stock its 29th biggest position. Petiole USA ltd’s holdings in Banner were worth $2,554,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Foundry Partners LLC lifted its position in Banner by 2.3% in the third quarter. Foundry Partners LLC now owns 6,194 shares of the financial services provider’s stock worth $369,000 after purchasing an additional 137 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of 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 buying an additional 300 shares in the last quarter. CWM LLC lifted its holdings in shares of Banner by 19.5% in the third quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock valued at $136,000 after buying an additional 371 shares during the period. Diversified Trust Co lifted its holdings in shares of Banner by 4.8% in the second quarter. Diversified Trust Co now owns 10,382 shares of the financial services provider’s stock valued at $515,000 after buying an additional 476 shares during the period. Finally, Rosenthal Henry Capital Advisors Inc. boosted its stake in Banner by 2.2% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 33,133 shares of the financial services provider’s stock valued at $1,973,000 after buying an additional 700 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.

Wall Street Analysts Forecast Growth

BANR has been the topic of several research reports. DA Davidson boosted their price target on shares of Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Piper Sandler set a $67.00 target price on shares of Banner in a report on Thursday, October 17th. Finally, Raymond James increased their target price 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Banner presently has an average rating of “Hold” and a consensus target price of $61.60.

Banner Price Performance

NASDAQ BANR opened at $76.26 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. Banner Co. has a 1 year low of $42.00 and a 1 year high of $78.05. The company has a market cap of $2.63 billion, a PE ratio of 15.95 and a beta of 1.04. The stock’s 50-day moving average price is $65.44 and its two-hundred day moving average price is $56.86.

Banner (NASDAQ:BANR) last released 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 net margin of 20.28% and a return on equity of 10.22%. The business had revenue of $213.90 million for the quarter, compared to analyst estimates of $152.95 million. During the same quarter in the previous year, the business earned $1.43 earnings per share. On average, analysts predict that Banner Co. will post 4.88 EPS for the current year.

Banner Announces Dividend

The firm also recently announced 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 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 currently 40.17%.

Insider Transactions at Banner

In other news, VP James P.G. Mclean sold 1,500 shares of the stock in a transaction that occurred 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.

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.