Intech Investment Management LLC Buys 2,872 Shares of Banner Co. (NASDAQ:BANR)

Intech Investment Management LLC boosted its stake in Banner Co. (NASDAQ:BANR) by 36.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 10,812 shares of the financial services provider’s stock after buying an additional 2,872 shares during the period. Intech Investment Management LLC’s holdings in Banner were worth $644,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Banner by 1.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,361,774 shares of the financial services provider’s stock valued at $117,236,000 after purchasing an additional 37,780 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Banner by 79.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock worth $79,132,000 after purchasing an additional 588,591 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Banner by 18.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 795,929 shares of the financial services provider’s stock valued at $39,510,000 after purchasing an additional 123,903 shares during the last quarter. American Century Companies Inc. boosted its position in Banner by 22.0% in the second quarter. American Century Companies Inc. now owns 607,769 shares of the financial services provider’s stock valued at $30,170,000 after buying an additional 109,457 shares in the last quarter. Finally, abrdn plc grew its stake in Banner by 5.0% during the third quarter. abrdn plc now owns 443,072 shares of the financial services provider’s stock worth $26,389,000 after buying an additional 20,978 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

BANR has been the subject of a number of research analyst reports. Raymond James lifted their target price on shares of Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research note 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 increased their target price on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $61.60.

Banner Stock Down 0.9 %

NASDAQ:BANR opened at $74.59 on Friday. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 15.60 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. The stock’s fifty day moving average price is $66.64 and its two-hundred day moving average price is $57.59. Banner Co. has a 52-week low of $42.00 and a 52-week high of $78.05.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.18 by $0.12. The business had revenue of $213.90 million for the quarter, compared to analyst estimates of $152.95 million. Banner had a return on equity of 10.22% and a net margin of 20.28%. During the same quarter in the prior year, the firm posted $1.43 earnings per share. On average, analysts anticipate that Banner Co. will post 4.88 EPS for the current year.

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend was Tuesday, November 5th. Banner’s dividend payout ratio (DPR) is 40.17%.

Insider Activity at Banner

In other news, VP James P.G. Mclean sold 1,500 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total value of $113,445.00. Following the transaction, the vice president now owns 21,868 shares of the company’s stock, valued at $1,653,876.84. This represents a 6.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Banner 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.