USA Financial Formulas Invests $32,000 in Banner Co. (NASDAQ:BANR)

USA Financial Formulas purchased a new stake in Banner Co. (NASDAQ:BANR) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 476 shares of the financial services provider’s stock, valued at approximately $32,000.

A number of other hedge funds have also added to or reduced their stakes in BANR. US Bancorp DE grew its stake 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 worth $86,000 after acquiring an additional 1,065 shares in the last quarter. CWM LLC grew its position in Banner by 19.5% in the 3rd quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock worth $136,000 after purchasing an additional 371 shares in the last quarter. Clear Creek Financial Management LLC purchased a new stake in Banner in the 3rd quarter valued at about $209,000. Princeton Capital Management LLC bought a new position in shares of Banner during the 3rd quarter worth approximately $255,000. Finally, Captrust Financial Advisors lifted its position in shares of Banner by 3.0% during the 3rd quarter. Captrust Financial Advisors now owns 5,443 shares of the financial services provider’s stock worth $324,000 after buying an additional 160 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.

Insider Activity at Banner

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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 in the company, valued at $1,653,876.84. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 1.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

BANR has been the subject of several recent analyst reports. Piper Sandler set a $67.00 target price on Banner in a report on Thursday, October 17th. Raymond James raised their target price on Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Keefe, Bruyette & Woods boosted their price target on shares of Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, DA Davidson raised their price objective on shares of Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Banner has an average rating of “Hold” and a consensus target price of $67.00.

Banner Stock Up 0.4 %

BANR stock opened at $70.11 on Friday. The stock has a fifty day moving average of $70.73 and a 200-day moving average of $62.85. Banner Co. has a fifty-two week low of $42.00 and a fifty-two week high of $78.05. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of 14.67 and a beta of 1.09. 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 issued 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 firm had revenue of $213.90 million during the quarter, compared to analyst estimates of $152.95 million. During the same quarter last year, the business earned $1.43 earnings per share. As a group, equities research analysts predict that Banner Co. will post 4.88 earnings per share for the current year.

Banner Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.74%. The ex-dividend date of this dividend was Tuesday, November 5th. Banner’s dividend payout ratio (DPR) is presently 40.17%.

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.