Victory Capital Management Inc. Grows Position in Banner Corporation (NASDAQ:BANR)

Victory Capital Management Inc. grew its position in Banner Corporation (NASDAQ:BANR - Free Report) by 20.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,047,260 shares of the financial services provider's stock after acquiring an additional 345,607 shares during the quarter. Victory Capital Management Inc. owned about 5.94% of Banner worth $130,554,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new stake in shares of Banner in the first quarter valued at approximately $34,000. GAMMA Investing LLC boosted its holdings in shares of Banner by 53.9% in the first quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 264 shares during the period. USA Financial Formulas boosted its holdings in shares of Banner by 69.1% in the first quarter. USA Financial Formulas now owns 805 shares of the financial services provider's stock valued at $51,000 after acquiring an additional 329 shares during the period. Sterling Capital Management LLC boosted its holdings in shares of Banner by 816.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock valued at $72,000 after acquiring an additional 964 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Banner by 20.1% in the first quarter. KBC Group NV now owns 1,989 shares of the financial services provider's stock valued at $127,000 after acquiring an additional 333 shares during the period. 87.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BANR. Wall Street Zen downgraded Banner from a "hold" rating to a "sell" rating in a report on Thursday, May 29th. Stephens reaffirmed an "overweight" rating and set a $73.00 price target on shares of Banner in a report on Monday, April 21st. Raymond James Financial reaffirmed an "outperform" rating and set a $65.00 price target (down from $77.00) on shares of Banner in a report on Monday, April 21st. DA Davidson increased their price target on Banner from $67.00 to $72.00 and gave the stock a "neutral" rating in a report on Friday. Finally, Janney Montgomery Scott raised Banner from a "neutral" rating to a "buy" rating and set a $71.00 price target for the company in a report on Monday, April 21st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. According to MarketBeat.com, Banner has an average rating of "Hold" and an average price target of $70.17.

Banner Stock Performance

Shares of NASDAQ BANR traded down $1.12 during mid-day trading on Friday, hitting $66.09. 222,898 shares of the company were exchanged, compared to its average volume of 218,335. The stock has a 50 day simple moving average of $64.18 and a 200-day simple moving average of $64.84. The firm has a market cap of $2.29 billion, a price-to-earnings ratio of 12.59 and a beta of 0.89. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.24. Banner Corporation has a 1-year low of $51.14 and a 1-year high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.03. The firm had revenue of $162.98 million during the quarter, compared to analysts' expectations of $167.96 million. Banner had a return on equity of 10.15% and a net margin of 21.15%. On average, sell-side analysts forecast that Banner Corporation will post 5.23 EPS for the current fiscal year.

Banner Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.91%. The ex-dividend date is Tuesday, August 5th. Banner's payout ratio is 36.57%.

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.