4,281 Shares in Banner Co. (NASDAQ:BANR) Acquired by Princeton Capital Management LLC

Princeton Capital Management LLC purchased a new stake in shares of Banner Co. (NASDAQ:BANR) in the third quarter, HoldingsChannel reports. The institutional investor purchased 4,281 shares of the financial services provider’s stock, valued at approximately $255,000.

Several other large investors also recently added to or reduced their stakes in the business. Louisiana State Employees Retirement System raised its stake in shares of Banner by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the financial services provider’s stock valued at $859,000 after acquiring an additional 300 shares during the period. CWM LLC raised its holdings in shares of Banner by 19.5% in the 3rd quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 371 shares in the last quarter. ProShare Advisors LLC lifted its holdings in 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 buying an additional 475 shares during the period. Diversified Trust Co grew its stake in Banner by 4.8% in the second quarter. Diversified Trust Co now owns 10,382 shares of the financial services provider’s stock valued at $515,000 after purchasing an additional 476 shares during the last quarter. Finally, EntryPoint Capital LLC raised its stake in shares of Banner by 100.9% during the 1st quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 558 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors.

Banner Stock Performance

Shares of BANR opened at $72.87 on Tuesday. The firm has a 50-day moving average price of $63.75 and a 200 day moving average price of $55.90. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $2.51 billion, a PE ratio of 15.24 and a beta of 1.04. Banner Co. has a 52-week low of $42.00 and a 52-week high of $77.01.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) 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 company had revenue of $213.90 million during the quarter, compared to the consensus estimate of $152.95 million. During the same quarter in the prior year, the firm earned $1.43 EPS. On average, sell-side analysts anticipate that Banner Co. will post 4.88 earnings per share for the current fiscal year.

Banner Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.92 annualized dividend and a yield of 2.63%. Banner’s dividend payout ratio is 40.17%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction dated 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 owns 21,868 shares in the company, valued at $1,653,876.84. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.60% of the stock is currently owned by corporate insiders.

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.