Kestrel Investment Management Corp Sells 15,000 Shares of Banner Co. (NASDAQ:BANR)

Kestrel Investment Management Corp decreased its position in Banner Co. (NASDAQ:BANR) by 18.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 66,150 shares of the financial services provider’s stock after selling 15,000 shares during the quarter. Banner accounts for approximately 2.4% of Kestrel Investment Management Corp’s holdings, making the stock its 20th biggest holding. Kestrel Investment Management Corp’s holdings in Banner were worth $3,543,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in BANR. Eagle Bay Advisors LLC grew its holdings in Banner by 126.7% during the 2nd quarter. Eagle Bay Advisors LLC now owns 501 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 280 shares during the last quarter. Carmel Capital Partners LLC bought a new stake in Banner during the 3rd quarter worth about $25,000. Lazard Asset Management LLC bought a new stake in Banner during the 2nd quarter worth about $27,000. Coppell Advisory Solutions Corp. bought a new stake in Banner during the 4th quarter worth about $44,000. Finally, CWM LLC grew its holdings in Banner by 923.0% during the 3rd quarter. CWM LLC now owns 757 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 683 shares during the last quarter. Institutional investors own 87.33% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on BANR shares. DA Davidson reduced their target price on shares of Banner from $50.00 to $47.00 and set a “neutral” rating on the stock in a research note on Friday. Stephens reduced their target price on shares of Banner from $54.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday. Keefe, Bruyette & Woods reduced their target price on shares of Banner from $58.00 to $54.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Piper Sandler reduced their target price on shares of Banner from $54.00 to $51.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Raymond James raised their target price on shares of Banner from $47.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $51.20.

Banner Trading Up 2.8 %

Shares of NASDAQ:BANR traded up $1.21 during mid-day trading on Friday, reaching $44.94. The stock had a trading volume of 353,294 shares, compared to its average volume of 199,710. The firm has a market cap of $1.54 billion, a PE ratio of 9.34 and a beta of 1.03. The firm has a 50 day simple moving average of $45.35 and a two-hundred day simple moving average of $46.43. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.40. Banner Co. has a twelve month low of $39.31 and a twelve month high of $55.66.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $152.46 million for the quarter, compared to the consensus estimate of $155.54 million. Banner had a net margin of 21.62% and a return on equity of 11.64%. On average, research analysts predict that Banner Co. will post 4.64 EPS for the current fiscal year.

Banner Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Tuesday, April 30th will be given a $0.48 dividend. The ex-dividend date is Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.27%. Banner’s dividend payout ratio is 39.92%.

Banner 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.