Banner Co. (NASDAQ:BANR) Shares Sold by Principal Financial Group Inc.

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. US Bancorp DE lifted its position in Banner by 287.1% in the third quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 1,065 shares during the period. CWM LLC lifted 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 buying an additional 371 shares during the period. Quest Partners LLC purchased a new stake in shares of Banner in the second quarter valued at approximately $152,000. Clear Creek Financial Management LLC acquired a new position in Banner during the third quarter worth $209,000. Finally, Princeton Capital Management LLC purchased a new position in Banner in the third quarter worth $255,000. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Banner Stock Down 0.2 %

BANR stock opened at $66.72 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84. The company’s 50 day simple moving average is $70.38 and its 200-day simple moving average is $61.10. Banner Co. has a 12 month low of $42.00 and a 12 month high of $78.05. The firm has a market capitalization of $2.30 billion, a PE ratio of 13.96 and a beta of 1.07.

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

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a $0.48 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a yield of 2.88%. Banner’s dividend payout ratio (DPR) is 40.17%.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, VP James P.G. Mclean sold 1,500 shares of the company’s stock in a transaction that occurred 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 transaction, the vice president now owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 1.60% of the stock is owned by corporate 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.