Banner (NASDAQ:BANR) Shares Down 0.7%

Banner Co. (NASDAQ:BANRGet Rating)’s share price fell 0.7% on Wednesday . The company traded as low as $61.92 and last traded at $62.02. 182,387 shares traded hands during mid-day trading, an increase of 29% from the average session volume of 141,590 shares. The stock had previously closed at $62.44.

Analyst Ratings Changes

A number of brokerages recently weighed in on BANR. Raymond James reduced their target price on Banner from $70.00 to $65.00 and set a “strong-buy” rating on the stock in a report on Thursday, July 7th. Janney Montgomery Scott raised Banner from a “neutral” rating to a “buy” rating and set a $68.00 price objective on the stock in a research report on Tuesday, June 28th. Stephens raised Banner from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $66.00 to $67.00 in a research report on Friday, June 17th. Finally, Piper Sandler raised their price objective on Banner to $65.00 in a research report on Friday, July 22nd.

Banner Stock Down 0.7 %

The firm has a 50-day simple moving average of $61.15 and a 200 day simple moving average of $59.41. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $2.12 billion, a PE ratio of 11.19 and a beta of 0.99.

Banner (NASDAQ:BANRGet Rating) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.17. Banner had a return on equity of 12.12% and a net margin of 31.19%. During the same quarter last year, the business earned $1.56 EPS. On average, research analysts predict that Banner Co. will post 5.5 EPS for the current fiscal year.

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Tuesday, August 2nd were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date of this dividend was Monday, August 1st. Banner’s payout ratio is 31.77%.

Insider Transactions at Banner

In other news, VP James P.G. Mclean sold 1,250 shares of Banner stock in a transaction dated Thursday, August 25th. The stock was sold at an average price of $62.50, for a total transaction of $78,125.00. Following the sale, the vice president now directly owns 17,698 shares of the company’s stock, valued at $1,106,125. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.46% of the company’s stock.

Institutional Trading of Banner

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Private Ocean LLC acquired a new position in Banner in the first quarter worth about $27,000. Eagle Bay Advisors LLC grew its stake in Banner by 126.7% in the second quarter. Eagle Bay Advisors LLC now owns 501 shares of the financial services provider’s stock worth $28,000 after purchasing an additional 280 shares in the last quarter. CWM LLC grew its stake in Banner by 116.7% in the first quarter. CWM LLC now owns 505 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 272 shares in the last quarter. Acadian Asset Management LLC acquired a new position in Banner in the fourth quarter worth about $35,000. Finally, Quantbot Technologies LP grew its stake in Banner by 831.3% in the second quarter. Quantbot Technologies LP now owns 1,639 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 1,463 shares in the last quarter. 85.64% of the stock is owned by hedge funds and other institutional investors.

Banner Company Profile

(Get Rating)

Banner Corporation operates as the bank holding company for Banner Bank that provide 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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