Victory Capital Management Inc. Acquires 1,560 Shares of Banner Co. (NASDAQ:BANR)

Victory Capital Management Inc. boosted its holdings in Banner Co. (NASDAQ:BANRGet Rating) by 0.2% in the 1st 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 purchasing an additional 1,560 shares during the quarter. Victory Capital Management Inc. owned approximately 2.06% of Banner worth $41,335,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in BANR. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in Banner in the 4th quarter worth approximately $14,494,000. Saba Capital Management L.P. bought a new position in Banner in the 4th quarter worth approximately $7,438,000. Taconic Capital Advisors LP bought a new position in Banner in the 4th quarter worth approximately $6,100,000. Cubist Systematic Strategies LLC bought a new position in Banner in the 4th quarter worth approximately $3,207,000. Finally, Radcliffe Capital Management L.P. bought a new position in shares of Banner during the 4th quarter valued at approximately $2,928,000. 85.00% of the stock is currently owned by institutional investors.

Banner Stock Down 0.9 %

Shares of BANR opened at $61.44 on Tuesday. The company has a market cap of $2.11 billion, a PE ratio of 11.09 and a beta of 1.00. The business has a fifty day moving average of $58.26 and a 200 day moving average of $56.58. Banner Co. has a 52-week low of $50.02 and a 52-week high of $66.79. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.27.

Banner (NASDAQ:BANRGet Rating) last issued its quarterly earnings results on Wednesday, July 20th. The financial services provider reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.17. Banner had a return on equity of 12.12% and a net margin of 31.19%. During the same period in the prior year, the firm earned $1.56 earnings per share. On average, sell-side analysts expect that Banner Co. will post 5.48 EPS for the current year.

Banner Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Tuesday, August 2nd will be paid a $0.44 dividend. The ex-dividend date is Monday, August 1st. This represents a $1.76 dividend on an annualized basis and a yield of 2.86%. Banner’s payout ratio is 31.77%.

Analyst Ratings Changes

A number of research analysts have recently commented on BANR shares. Piper Sandler increased their target price on Banner to $65.00 in a research report on Friday, July 22nd. Janney Montgomery Scott upgraded Banner from a “neutral” rating to a “buy” rating and set a $68.00 target price for the company in a research report on Tuesday, June 28th. Stephens upgraded Banner from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $66.00 to $67.00 in a research report on Friday, June 17th. Finally, Raymond James lowered their target price on Banner from $70.00 to $65.00 and set a “strong-buy” rating for the company in a research report on Thursday, July 7th. Two analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Banner presently has an average rating of “Moderate Buy” and an average target price of $65.00.

About Banner

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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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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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