Victory Capital Management Inc. Acquires 456,868 Shares of Banner Co. (NASDAQ:BANR)

Victory Capital Management Inc. increased its holdings in Banner Co. (NASDAQ:BANR) by 247.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 641,701 shares of the financial services provider’s stock after buying an additional 456,868 shares during the period. Victory Capital Management Inc.’s holdings in Banner were worth $34,370,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of BANR. Carmel Capital Partners LLC bought a new position in Banner in the third quarter worth approximately $25,000. Federated Hermes Inc. purchased a new position in Banner in the third quarter worth $45,000. CWM LLC grew its holdings in Banner by 49.9% in the fourth quarter. CWM LLC now owns 1,135 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 378 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in Banner by 19.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,535 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 245 shares during the last quarter. Finally, TRUE Private Wealth Advisors purchased a new position in Banner in the fourth quarter worth $215,000. Institutional investors own 87.33% of the company’s stock.

Banner Price Performance

NASDAQ:BANR opened at $46.31 on Tuesday. Banner Co. has a one year low of $39.31 and a one year high of $55.66. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.82 and a current ratio of 0.82. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 9.63 and a beta of 1.04. The firm’s fifty day moving average is $45.52 and its two-hundred day moving average is $46.66.

Banner Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Tuesday, April 30th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.15%. The ex-dividend date is Monday, April 29th. Banner’s payout ratio is 39.92%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on BANR shares. Piper Sandler cut their price target on shares of Banner from $54.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Keefe, Bruyette & Woods cut their price target on shares of Banner from $58.00 to $54.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. DA Davidson cut their price target on shares of Banner from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday, April 19th. Stephens cut their price target on shares of Banner from $54.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Finally, Raymond James boosted their price objective on shares of Banner from $47.00 to $51.00 and gave the company an “outperform” rating in a report on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $51.20.

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.