Banner Co. (NASDAQ:BANR) Shares Sold by Petiole USA ltd

Petiole USA ltd reduced its position in Banner Co. (NASDAQ:BANR) by 31.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,882 shares of the financial services provider’s stock after selling 19,500 shares during the period. Banner makes up about 1.7% of Petiole USA ltd’s holdings, making the stock its 29th biggest holding. Petiole USA ltd owned approximately 0.12% of Banner worth $2,554,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Foundry Partners LLC boosted its holdings in Banner by 2.3% in the third quarter. Foundry Partners LLC now owns 6,194 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 137 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in shares of Banner by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the financial services provider’s stock valued at $859,000 after buying an additional 300 shares during the last quarter. CWM LLC grew its position in shares of Banner by 19.5% during the third quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock worth $136,000 after buying an additional 371 shares in the last quarter. Diversified Trust Co increased its stake 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 worth $515,000 after buying an additional 476 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. raised its holdings in Banner by 2.2% in 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 acquiring an additional 700 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Banner Trading Up 1.0 %

NASDAQ BANR opened at $76.26 on Tuesday. Banner Co. has a one year low of $42.00 and a one year high of $78.05. The firm has a market capitalization of $2.63 billion, a PE ratio of 15.95 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. The company has a 50-day simple moving average of $65.44 and a 200-day simple moving average of $56.86.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.12. Banner had a return on equity of 10.22% and a net margin of 20.28%. The firm had revenue of $213.90 million for the quarter, compared to analyst estimates of $152.95 million. During the same period last year, the company earned $1.43 earnings per share. On average, equities analysts forecast 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. Shareholders 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 2.52%. The ex-dividend date was Tuesday, November 5th. Banner’s payout ratio is 40.17%.

Insiders Place Their Bets

In other Banner news, VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total transaction of $113,445.00. Following the sale, the vice president now owns 21,868 shares of the company’s stock, valued at $1,653,876.84. The trade was a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.60% of the stock is owned by insiders.

Banner 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.