Stieven Capital Advisors L.P. Sells 12,200 Shares of Banner Co. (NASDAQ:BANR)

Stieven Capital Advisors L.P. trimmed its position in Banner Co. (NASDAQ:BANR) by 5.3% during the third quarter, HoldingsChannel.com reports. The fund owned 218,056 shares of the financial services provider’s stock after selling 12,200 shares during the quarter. Banner makes up 2.5% of Stieven Capital Advisors L.P.’s portfolio, making the stock its 16th biggest position. Stieven Capital Advisors L.P.’s holdings in Banner were worth $12,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in BANR. SG Americas Securities LLC acquired a new stake in Banner in the first quarter valued at approximately $202,000. Sei Investments Co. boosted its position in Banner by 1.7% in the first quarter. Sei Investments Co. now owns 138,109 shares of the financial services provider’s stock valued at $6,629,000 after buying an additional 2,348 shares in the last quarter. Russell Investments Group Ltd. boosted its position in Banner by 19.1% in the first quarter. Russell Investments Group Ltd. now owns 40,407 shares of the financial services provider’s stock valued at $1,940,000 after buying an additional 6,470 shares in the last quarter. ProShare Advisors LLC boosted its position in Banner by 7.4% in the first quarter. ProShare Advisors LLC now owns 6,906 shares of the financial services provider’s stock valued at $331,000 after buying an additional 475 shares in the last quarter. Finally, Entropy Technologies LP acquired a new stake in Banner in the first quarter valued at approximately $247,000. Institutional investors and hedge funds own 87.33% of the company’s stock.

Insider Buying and Selling

In other Banner news, VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction 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 approximately $1,653,876.84. The trade was a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.60% of the stock is owned by insiders.

Banner Price Performance

Shares of NASDAQ:BANR opened at $73.52 on Friday. Banner Co. has a 52 week low of $42.00 and a 52 week high of $77.01. The firm’s fifty day moving average is $63.43 and its 200-day moving average is $55.62. The firm has a market cap of $2.53 billion, a PE ratio of 15.38 and a beta of 1.04. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $152.95 million. During the same quarter last year, the firm earned $1.43 earnings per share. Sell-side analysts predict that Banner Co. will post 4.88 earnings per share for the current year.

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date was Tuesday, November 5th. Banner’s dividend payout ratio is presently 40.17%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BANR. Piper Sandler set a $67.00 target price on shares of Banner in a research report on Thursday, October 17th. DA Davidson lifted their price target on shares of Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Raymond James lifted their price target on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Banner has a consensus rating of “Hold” and a consensus target price of $61.60.

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.