Victory Capital Management Inc. Boosts Holdings in Banner Corporation (NASDAQ:BANR)

Victory Capital Management Inc. grew its stake in Banner Corporation (NASDAQ:BANR - Free Report) by 20.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,047,260 shares of the financial services provider's stock after purchasing an additional 345,607 shares during the period. Victory Capital Management Inc. owned approximately 5.94% of Banner worth $130,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in shares of Banner during the fourth quarter worth $10,023,000. Amundi lifted its holdings in Banner by 168.3% during the 4th quarter. Amundi now owns 17,925 shares of the financial services provider's stock worth $1,198,000 after buying an additional 11,243 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Banner during the 4th quarter worth about $274,000. Swiss National Bank lifted its holdings in Banner by 0.7% during the 4th quarter. Swiss National Bank now owns 67,700 shares of the financial services provider's stock worth $4,520,000 after buying an additional 500 shares during the last quarter. Finally, Natixis Advisors LLC lifted its holdings in Banner by 9.7% during the 4th quarter. Natixis Advisors LLC now owns 11,474 shares of the financial services provider's stock worth $766,000 after buying an additional 1,013 shares during the last quarter. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Banner Stock Down 1.7%

Shares of NASDAQ:BANR traded down $1.12 during trading on Friday, reaching $66.09. 222,898 shares of the company traded hands, compared to its average volume of 217,949. The firm has a fifty day simple moving average of $64.24 and a 200 day simple moving average of $64.82. The firm has a market cap of $2.29 billion, a P/E ratio of 12.59 and a beta of 0.89. Banner Corporation has a 1-year low of $51.14 and a 1-year high of $78.05. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.40.

Banner (NASDAQ:BANR - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating analysts' consensus estimates of $1.32 by $0.03. Banner had a net margin of 21.15% and a return on equity of 10.06%. The firm had revenue of $162.98 million for the quarter, compared to analyst estimates of $167.96 million. Analysts anticipate that Banner Corporation will post 5.23 earnings per share for the current fiscal year.

Banner Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th will be given a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.91%. Banner's dividend payout ratio (DPR) is currently 36.57%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on BANR shares. DA Davidson lifted their price objective on Banner from $67.00 to $72.00 and gave the company a "neutral" rating in a report on Friday. Raymond James Financial reissued an "outperform" rating and set a $65.00 price target (down previously from $77.00) on shares of Banner in a research note on Monday, April 21st. Wall Street Zen raised Banner from a "sell" rating to a "hold" rating in a research note on Friday. Janney Montgomery Scott raised Banner from a "neutral" rating to a "buy" rating and set a $71.00 price target on the stock in a research note on Monday, April 21st. Finally, Keefe, Bruyette & Woods decreased their price target on Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $70.17.

Banner Company 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.