Banner Co. (NASDAQ:BANR) Shares Sold by Phocas Financial Corp.

Phocas Financial Corp. cut its holdings in Banner Co. (NASDAQ:BANR) by 5.8% during the third quarter, HoldingsChannel reports. The firm owned 118,787 shares of the financial services provider’s stock after selling 7,353 shares during the period. Phocas Financial Corp.’s holdings in Banner were worth $7,075,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. EntryPoint Capital LLC raised its stake in Banner by 100.9% during the 1st quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock valued at $53,000 after acquiring an additional 558 shares during the last quarter. Innealta Capital LLC purchased a new position in Banner during the 2nd quarter worth $53,000. US Bancorp DE boosted its holdings in shares of 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 acquiring an additional 1,065 shares in the last quarter. CWM LLC increased its stake in shares of Banner by 60.1% during the second quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock worth $94,000 after acquiring an additional 715 shares during the period. Finally, Quest Partners LLC purchased a new position in Banner during the second quarter worth about $152,000. 87.33% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on BANR shares. DA Davidson boosted their target price on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Raymond James increased their price objective on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler set a $67.00 price target on shares of Banner in a research note on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $61.60.

Insider Buying and Selling

In other Banner news, VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total value of $113,445.00. Following the completion of the sale, the vice president now directly owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Banner Price Performance

Banner stock opened at $72.87 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The firm’s 50-day simple moving average is $63.75 and its 200 day simple moving average is $55.90. Banner Co. has a 52 week low of $42.00 and a 52 week high of $77.01. The firm has a market capitalization of $2.51 billion, a PE ratio of 15.24 and a beta of 1.04.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.12. Banner had a net margin of 20.28% and a return on equity of 10.22%. The business had revenue of $213.90 million during the quarter, compared to analysts’ expectations of $152.95 million. During the same period last year, the company posted $1.43 EPS. On average, equities research analysts predict that Banner Co. will post 4.88 EPS for the current fiscal year.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.63%. The ex-dividend date was Tuesday, November 5th. Banner’s payout ratio is currently 40.17%.

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.