Captrust Financial Advisors Raises Position in Banner Co. (NASDAQ:BANR)

Captrust Financial Advisors boosted its stake in shares of Banner Co. (NASDAQ:BANR) by 3.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,443 shares of the financial services provider’s stock after buying an additional 160 shares during the period. Captrust Financial Advisors’ holdings in Banner were worth $324,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BANR. Foundry Partners LLC raised its position in Banner by 2.3% during the third quarter. Foundry Partners LLC now owns 6,194 shares of the financial services provider’s stock worth $369,000 after acquiring an additional 137 shares during the last quarter. Louisiana State Employees Retirement System lifted its position 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 boosted its stake in Banner by 19.5% in the third quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 371 shares during the period. Rosenthal Henry Capital Advisors Inc. grew its stake in Banner by 2.2% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 33,133 shares of the financial services provider’s stock worth $1,973,000 after buying an additional 700 shares during the last quarter. Finally, Harbor Capital Advisors Inc. increased its holdings in shares of Banner by 7.4% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,477 shares of the financial services provider’s stock worth $624,000 after acquiring an additional 718 shares during the period. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BANR. Keefe, Bruyette & Woods increased their price objective on shares of Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a report on Wednesday, December 4th. DA Davidson boosted their target price on shares of Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Piper Sandler set a $67.00 price target on shares of Banner in a report on Thursday, October 17th. Finally, Raymond James upped their target price on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $67.00.

Insider Transactions at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of the business’s 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 completion of the transaction, the vice president now directly owns 21,868 shares in the company, valued at $1,653,876.84. The trade was a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 1.60% of the company’s stock.

Banner Trading Down 0.9 %

Shares of Banner stock opened at $71.37 on Friday. Banner Co. has a 52-week low of $42.00 and a 52-week high of $78.05. The firm has a 50-day moving average of $69.52 and a 200-day moving average of $59.50. The stock has a market cap of $2.46 billion, a PE ratio of 14.93 and a beta of 1.07. 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 earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analyst estimates of $152.95 million. During the same period last year, the company earned $1.43 EPS. As a group, sell-side analysts forecast that Banner Co. will post 4.88 EPS for the current year.

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.69%. The ex-dividend date of this dividend was Tuesday, November 5th. Banner’s payout ratio is presently 40.17%.

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.