Stifel Financial Corp Sells 6,382 Shares of Banner Co. (NASDAQ:BANR)

Stifel Financial Corp lessened its holdings in shares of Banner Co. (NASDAQ:BANR) by 9.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 59,961 shares of the financial services provider’s stock after selling 6,382 shares during the period. Stifel Financial Corp’s holdings in Banner were worth $3,571,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in Banner during the 2nd quarter worth about $53,000. US Bancorp DE grew its stake in shares of Banner by 287.1% during the third quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 1,065 shares during the last quarter. CWM LLC increased its holdings in shares of Banner by 60.1% in the second quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 715 shares in the last quarter. Quest Partners LLC bought a new position in Banner in the 2nd quarter worth approximately $152,000. Finally, Clear Creek Financial Management LLC bought a new position in Banner in the 3rd quarter worth approximately $209,000. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 transaction, the vice president now 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Banner Price Performance

Banner stock opened at $71.89 on Tuesday. The firm has a market capitalization of $2.48 billion, a P/E ratio of 15.04 and a beta of 1.07. The business has a 50-day moving average of $69.78 and a 200-day moving average of $59.78. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. Banner Co. has a 1 year low of $42.00 and a 1 year high of $78.05.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.18 by $0.12. The firm had revenue of $213.90 million during the quarter, compared to the consensus estimate of $152.95 million. Banner had a net margin of 20.28% and a return on equity of 10.22%. During the same quarter in the prior year, the firm earned $1.43 earnings per share. On average, equities analysts anticipate 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. Investors of record on Tuesday, November 5th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Tuesday, November 5th. Banner’s payout ratio is presently 40.17%.

Wall Street Analysts Forecast Growth

BANR has been the topic of a number of recent research reports. Piper Sandler set a $67.00 price objective on Banner in a research report on Thursday, October 17th. DA Davidson lifted their price objective 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 raised their target price on shares of Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $67.00.

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.