Victory Capital Management Inc. Has $109.02 Million Position in Banner Corporation $BANR

Key Points

• Victory Capital Management trimmed its Banner (BANR) stake by 15.2% in Q3, selling 297,208 shares and finishing with 1,664,424 shares worth $109.02 million, or about 4.88% of the company.
• Banner reported quarterly EPS of $1.55 versus a $1.46 consensus while revenue of $169.9M missed estimates; the company has a P/E of 10.86 and a market cap of $2.09 billion.
• Banner pays a quarterly dividend of $0.50 (annualized $2.00, yield 3.3%, payout ratio 35.46%), and analysts’ consensus rating is a Hold with an average target price of $71.17 (3 Buys, 4 Holds).

Victory Capital Management Inc. decreased its position in shares of Banner Corporation (NASDAQ:BANR - Free Report) by 15.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,664,424 shares of the financial services provider's stock after selling 297,208 shares during the period. Victory Capital Management Inc. owned 4.88% of Banner worth $109,020,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in BANR. EverSource Wealth Advisors LLC acquired a new position in Banner in the second quarter worth approximately $45,000. GAMMA Investing LLC grew its position in Banner by 19.4% in the third quarter. GAMMA Investing LLC now owns 1,137 shares of the financial services provider's stock worth $74,000 after acquiring an additional 185 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of Banner in the 2nd quarter valued at $99,000. CWM LLC boosted its holdings in Banner by 21.9% in the third quarter. CWM LLC now owns 1,619 shares of the financial services provider's stock worth $106,000 after purchasing an additional 291 shares in the last quarter. Finally, US Bancorp DE lifted its position in shares of Banner by 8.9% in the third quarter. US Bancorp DE now owns 2,154 shares of the financial services provider's stock worth $141,000 after buying an additional 176 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BANR shares. Weiss Ratings restated a "hold (c+)" rating on shares of Banner in a report on Wednesday, January 21st. Piper Sandler reaffirmed a "neutral" rating and set a $70.00 price objective on shares of Banner in a report on Monday, December 1st. Finally, Wall Street Zen upgraded shares of Banner from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $71.17.

Banner Stock Performance

NASDAQ:BANR opened at $61.26 on Thursday. The firm's 50-day moving average is $63.31 and its 200-day moving average is $63.89. The company has a market cap of $2.09 billion, a price-to-earnings ratio of 10.86 and a beta of 0.88. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86. Banner Corporation has a 52-week low of $54.01 and a 52-week high of $69.83.

Banner (NASDAQ:BANR - Get Free Report) last released its 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. The business had revenue of $169.90 million for the quarter, compared to the consensus estimate of $173.23 million. Banner had a return on equity of 10.46% and a net margin of 22.26%. Equities research analysts anticipate that Banner Corporation will post 5.23 earnings per share for the current year.

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Tuesday, February 3rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Tuesday, February 3rd. 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.

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