Banner Co. (NASDAQ:BANR) Short Interest Update

Banner Co. (NASDAQ:BANR) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 701,100 shares, a decrease of 16.8% from the October 15th total of 842,300 shares. Currently, 2.1% of the shares of the company are sold short. Based on an average daily volume of 220,400 shares, the days-to-cover ratio is currently 3.2 days.

Banner Price Performance

Shares of BANR stock traded up $0.11 during trading on Friday, hitting $73.52. The company had a trading volume of 142,449 shares, compared to its average volume of 199,248. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. Banner has a 52 week low of $42.00 and a 52 week high of $77.01. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 15.36 and a beta of 1.04. The stock’s 50-day moving average is $63.10 and its two-hundred day moving average is $55.34.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.12. Banner had a return on equity of 10.22% and a net margin of 20.28%. The business had revenue of $213.90 million for the quarter, compared to analysts’ expectations of $152.95 million. During the same quarter in the prior year, the firm earned $1.43 earnings per share. As a group, analysts predict that Banner will post 4.88 EPS for the current fiscal year.

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.61%. The ex-dividend date is Tuesday, November 5th. Banner’s dividend payout ratio is currently 40.17%.

Insider Buying and Selling at Banner

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 value of $113,445.00. Following the transaction, the vice president now owns 21,868 shares in the company, valued at approximately $1,653,876.84. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Victory Capital Management Inc. grew its holdings in shares of Banner by 79.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock valued at $79,132,000 after purchasing an additional 588,591 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Banner by 12.2% in the third quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock worth $106,334,000 after buying an additional 193,434 shares during the period. FMR LLC lifted its stake in shares of Banner by 395.4% in the 3rd quarter. FMR LLC now owns 166,120 shares of the financial services provider’s stock valued at $9,894,000 after acquiring an additional 132,586 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in Banner by 18.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 795,929 shares of the financial services provider’s stock valued at $39,510,000 after acquiring an additional 123,903 shares during the period. Finally, American Century Companies Inc. grew its position in Banner by 22.0% during the 2nd quarter. American Century Companies Inc. now owns 607,769 shares of the financial services provider’s stock worth $30,170,000 after acquiring an additional 109,457 shares during the last quarter. 87.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on BANR. DA Davidson upped their price objective on shares of Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Stephens reiterated an “overweight” rating and issued a $53.00 price objective on shares of Banner in a research note on Thursday, July 18th. Raymond James increased their target price on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Piper Sandler set a $67.00 price objective on Banner in a research note on Thursday, October 17th. Finally, Janney Montgomery Scott cut Banner from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $61.60.

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.