Victory Capital Management Inc. Sells 297,208 Shares of Banner Corporation $BANR

Victory Capital Management Inc. reduced its stake in Banner Corporation (NASDAQ:BANR) by 15.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,664,424 shares of the financial services provider’s stock after selling 297,208 shares during the quarter. Victory Capital Management Inc.’s holdings in Banner were worth $109,020,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. EverSource Wealth Advisors LLC acquired a new stake in Banner in the 2nd quarter valued at $45,000. GAMMA Investing LLC lifted its holdings in shares of Banner by 19.4% during the third quarter. GAMMA Investing LLC now owns 1,137 shares of the financial services provider’s stock valued at $74,000 after acquiring an additional 185 shares during the period. AlphaQuest LLC acquired a new stake in shares of Banner in the 2nd quarter valued at $99,000. CWM LLC boosted its stake in shares of Banner by 21.9% in the 3rd quarter. CWM LLC now owns 1,619 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 291 shares in the last quarter. Finally, US Bancorp DE grew its holdings in shares of Banner by 8.9% in the 3rd quarter. US Bancorp DE now owns 2,154 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 176 shares during the last quarter. Institutional investors own 87.33% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on BANR shares. Wall Street Zen raised shares of Banner from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Piper Sandler restated a “neutral” rating and set a $70.00 price target on shares of Banner in a research report on Monday, December 1st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Banner in a research report on Wednesday, January 21st. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $71.17.

Banner Stock Performance

Shares of NASDAQ:BANR opened at $61.26 on Thursday. The stock has a market capitalization of $2.09 billion, a P/E ratio of 10.86 and a beta of 0.88. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. Banner Corporation has a 1-year low of $54.01 and a 1-year high of $69.83. The business has a 50-day moving average price of $63.31 and a two-hundred day moving average price of $63.89.

Banner (NASDAQ:BANR) last posted its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.09. Banner had a net margin of 22.26% and a return on equity of 10.46%. The business had revenue of $169.90 million during the quarter, compared to the consensus estimate of $173.23 million. Equities analysts predict that Banner Corporation will post 5.23 earnings per share for the current year.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Tuesday, February 3rd were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, February 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.3%. Banner’s payout ratio is 35.46%.

About Banner

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.