Princeton Capital Management LLC Makes New Investment in Banner Co. (NASDAQ:BANR)

Princeton Capital Management LLC acquired a new position in shares of Banner Co. (NASDAQ:BANR) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 4,281 shares of the financial services provider’s stock, valued at approximately $255,000.

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. DA Davidson upped their price objective on Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Raymond James boosted their price objective on shares of Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler set a $67.00 price target on Banner in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $61.60.

Banner Stock Performance

NASDAQ BANR opened at $72.87 on Tuesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85. The company has a 50-day simple moving average of $63.75 and a 200 day simple moving average of $55.90. Banner Co. has a 52-week low of $42.00 and a 52-week high of $77.01. The company 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 (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.12. The business had revenue of $213.90 million for the quarter, compared to analysts’ expectations of $152.95 million. Banner had a return on equity of 10.22% and a net margin of 20.28%. During the same quarter in the prior year, the firm posted $1.43 EPS. On average, research analysts predict that Banner Co. will post 4.88 EPS for the current year.

Banner Announces Dividend

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

About Banner

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.