Principal Financial Group Inc. Sells 7,493 Shares of Banner Co. (NASDAQ:BANR)

Principal Financial Group Inc. trimmed its stake in shares of Banner Co. (NASDAQ:BANR) by 4.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 162,428 shares of the financial services provider’s stock after selling 7,493 shares during the period. Principal Financial Group Inc. owned 0.47% of Banner worth $9,674,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. EntryPoint Capital LLC grew its position in shares of Banner by 100.9% during the first quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 558 shares in the last quarter. Innealta Capital LLC bought a new position in Banner during the second quarter valued at approximately $53,000. US Bancorp DE grew its holdings in Banner by 287.1% during the 3rd quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock valued at $86,000 after buying an additional 1,065 shares in the last quarter. CWM LLC increased its stake in Banner by 60.1% in the 2nd quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 715 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Banner during the 2nd quarter worth approximately $152,000. 87.33% of the stock is currently owned by institutional investors.

Insider Activity

In other news, VP James P.G. Mclean sold 1,500 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total transaction of $113,445.00. Following the completion of the sale, the vice president now directly owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. The trade was a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

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

Banner Stock Down 0.9 %

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

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 the consensus estimate of $1.18 by $0.12. The firm had revenue of $213.90 million during the quarter, compared to analyst estimates of $152.95 million. Banner had a net margin of 20.28% and a return on equity of 10.22%. During the same quarter last year, the business earned $1.43 EPS. On average, sell-side analysts expect that Banner Co. will post 4.88 EPS for the current year.

Banner Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given 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 dividend yield of 2.63%. Banner’s dividend payout ratio (DPR) 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.