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

Intech Investment Management LLC boosted its holdings in shares of Banner Co. (NASDAQ:BANR) by 36.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,812 shares of the financial services provider’s stock after acquiring an additional 2,872 shares during the quarter. 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 institutional investors have also recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its holdings in shares of Banner by 1.6% during 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. raised its holdings in Banner by 79.5% during the third quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock valued at $79,132,000 after buying an additional 588,591 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in shares of Banner by 18.4% in the second quarter. The Manufacturers Life Insurance Company now owns 795,929 shares of the financial services provider’s stock worth $39,510,000 after buying an additional 123,903 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of Banner by 22.0% during the 2nd quarter. American Century Companies Inc. now owns 607,769 shares of the financial services provider’s stock worth $30,170,000 after acquiring an additional 109,457 shares in the last quarter. Finally, abrdn plc boosted its stake in shares of Banner by 5.0% during the 3rd quarter. abrdn plc now owns 443,072 shares of the financial services provider’s stock worth $26,389,000 after acquiring an additional 20,978 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Activity at Banner

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

Banner Stock Down 0.9 %

Shares of BANR stock opened at $74.59 on Friday. The stock has a 50 day moving average of $66.64 and a 200-day moving average of $57.59. The firm has a market cap of $2.57 billion, a PE ratio of 15.60 and a beta of 1.04. 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 12 month low of $42.00 and a 12 month high of $78.05.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.18 by $0.12. The firm had revenue of $213.90 million during the quarter, compared to analysts’ expectations of $152.95 million. Banner had a net margin of 20.28% and a return on equity of 10.22%. During the same period in the prior year, the company earned $1.43 EPS. On average, equities analysts predict that Banner Co. will post 4.88 EPS for the current year.

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.57%. The ex-dividend date of this dividend was Tuesday, November 5th. 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.