108,751 Shares in Banner Co. (NASDAQ:BANR) Acquired by Eagle Asset Management Inc.

Eagle Asset Management Inc. bought a new position in shares of Banner Co. (NASDAQ:BANR) in the third quarter, Holdings Channel reports. The firm bought 108,751 shares of the financial services provider’s stock, valued at approximately $6,477,000.

Other institutional investors have also recently bought and sold shares of the company. EntryPoint Capital LLC grew its holdings in Banner by 100.9% during the 1st quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 558 shares during the period. Innealta Capital LLC acquired a new position in shares of Banner in the 2nd quarter valued at $53,000. US Bancorp DE grew its holdings in shares of Banner by 287.1% in the 3rd quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock valued at $86,000 after buying an additional 1,065 shares during the period. CWM LLC grew its holdings 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 buying an additional 715 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of Banner in the 2nd quarter valued at $152,000. Institutional investors and hedge funds own 87.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Raymond James boosted their price target on shares of Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. DA Davidson boosted their price target on shares of Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Piper Sandler set a $67.00 target price on shares of Banner in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $61.60.

Banner Stock Performance

Shares of NASDAQ:BANR opened at $75.47 on Monday. The company’s 50 day moving average price is $65.08 and its two-hundred day moving average price is $56.66. Banner Co. has a 12-month low of $42.00 and a 12-month high of $77.01. The firm has a market cap of $2.60 billion, a PE ratio of 15.79 and a beta of 1.04. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30.

Banner (NASDAQ:BANR) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.12. The business 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 quarter last year, the business posted $1.43 EPS. Equities research analysts predict that Banner Co. will post 4.88 earnings per share for the current year.

Banner Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.92 annualized dividend and a dividend yield of 2.54%. Banner’s dividend payout ratio is 40.17%.

Insider Activity at Banner

In related 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 transaction, the vice president now owns 21,868 shares of the company’s stock, valued at $1,653,876.84. This represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.60% of the stock is 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.