Banner Co. (NASDAQ:BANR) VP James P.G. Mclean Sells 1,500 Shares of Stock

Banner Co. (NASDAQ:BANR) 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 transaction, the vice president now directly owns 21,868 shares in the company, valued at $1,653,876.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Banner Trading Down 4.4 %

Shares of Banner stock opened at $71.52 on Friday. Banner Co. has a 52-week low of $41.92 and a 52-week high of $75.88. The stock’s 50-day simple moving average is $61.35 and its 200 day simple moving average is $54.23. The stock has a market capitalization of $2.46 billion, a P/E ratio of 14.96 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 quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.12. Banner had a return on equity of 10.22% and a net margin of 20.28%. The business had revenue of $213.90 million for the quarter, compared to analysts’ expectations of $152.95 million. During the same period in the previous year, the business posted $1.43 EPS. As a group, research analysts anticipate that Banner Co. will post 4.82 EPS for the current year.

Banner Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Investors of record on Tuesday, November 5th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Tuesday, November 5th. Banner’s dividend payout ratio is currently 40.17%.

Institutional Investors Weigh In On Banner

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Louisiana State Employees Retirement System grew its holdings in shares of Banner by 1.8% during the second quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the financial services provider’s stock worth $859,000 after purchasing an additional 300 shares in the last quarter. CWM LLC grew its holdings 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 purchasing an additional 371 shares in the last quarter. Texas Permanent School Fund Corp grew its holdings in shares of Banner by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 30,061 shares of the financial services provider’s stock worth $1,443,000 after purchasing an additional 389 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Banner by 7.4% during the first quarter. ProShare Advisors LLC now owns 6,906 shares of the financial services provider’s stock worth $331,000 after purchasing an additional 475 shares in the last quarter. Finally, Diversified Trust Co grew its holdings in shares of Banner by 4.8% during the second quarter. Diversified Trust Co now owns 10,382 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 476 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BANR shares. Piper Sandler set a $67.00 target price on Banner in a research note on Thursday, October 17th. Stephens reiterated an “overweight” rating and set a $53.00 target price on shares of Banner in a research note on Thursday, July 18th. Janney Montgomery Scott cut Banner from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Raymond James lifted their target price 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 lifted their target price on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.60.

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.