Victory Capital Management Inc. increased its holdings in Banner Co. (NASDAQ:BANR – Get Rating) by 0.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 707,389 shares of the financial services provider’s stock after acquiring an additional 1,560 shares during the quarter. Victory Capital Management Inc. owned approximately 2.06% of Banner worth $41,335,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Private Ocean LLC acquired a new position in shares of Banner in the 1st quarter valued at $27,000. CWM LLC increased its holdings in shares of Banner by 116.7% in the 1st quarter. CWM LLC now owns 505 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 272 shares during the period. Acadian Asset Management LLC acquired a new position in shares of Banner in the 4th quarter valued at $35,000. Orchard Capital Managment LLC acquired a new position in shares of Banner in the 4th quarter valued at $204,000. Finally, CSS LLC IL acquired a new position in shares of Banner in the 4th quarter valued at $221,000. 85.00% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities analysts have recently commented on BANR shares. Janney Montgomery Scott raised shares of Banner from a “neutral” rating to a “buy” rating and set a $68.00 target price on the stock in a report on Tuesday, June 28th. Piper Sandler boosted their price objective on shares of Banner to $65.00 in a research note on Friday, July 22nd. Stephens raised shares of Banner from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $66.00 to $67.00 in a research note on Friday, June 17th. Finally, Raymond James dropped their price objective on shares of Banner from $70.00 to $65.00 and set a “strong-buy” rating on the stock in a research note on Thursday, July 7th. Two investment analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $65.00.
Banner Price Performance
Banner (NASDAQ:BANR – Get Rating) last issued its earnings results on Wednesday, July 20th. The financial services provider reported $1.39 EPS for the quarter, topping the consensus estimate of $1.22 by $0.17. Banner had a net margin of 31.19% and a return on equity of 12.12%. During the same quarter last year, the company posted $1.56 EPS. Analysts forecast that Banner Co. will post 5.48 EPS for the current fiscal year.
Banner Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Tuesday, August 2nd will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Monday, August 1st. This represents a $1.76 annualized dividend and a dividend yield of 2.86%. Banner’s payout ratio is currently 31.77%.
Banner Company Profile
Banner Corporation operates as the bank holding company for Banner Bank that provide 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.
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