Aristotle Capital Boston LLC Has $21.59 Million Stock Position in Banner Co. (NASDAQ:BANR)

Aristotle Capital Boston LLC lessened its stake in shares of Banner Co. (NASDAQ:BANR - Free Report) by 9.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 323,316 shares of the financial services provider's stock after selling 33,737 shares during the period. Aristotle Capital Boston LLC owned about 0.94% of Banner worth $21,588,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Summit Investment Advisors Inc. raised its position in Banner by 5.5% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,591 shares of the financial services provider's stock valued at $240,000 after buying an additional 187 shares during the period. US Bancorp DE increased its holdings in shares of Banner by 21.8% in the 4th quarter. US Bancorp DE now owns 1,749 shares of the financial services provider's stock valued at $117,000 after purchasing an additional 313 shares during the period. Bank of Montreal Can lifted its position in shares of Banner by 9.5% in the fourth quarter. Bank of Montreal Can now owns 3,792 shares of the financial services provider's stock worth $253,000 after purchasing an additional 330 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Banner by 167.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 705 shares of the financial services provider's stock worth $47,000 after purchasing an additional 441 shares in the last quarter. Finally, USA Financial Formulas acquired a new stake in shares of Banner during the fourth quarter worth approximately $32,000. 87.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on BANR shares. DA Davidson increased their target price on shares of Banner from $73.00 to $76.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Raymond James reissued an "outperform" rating and set a $65.00 price objective (down previously from $77.00) on shares of Banner in a research report on Monday, April 21st. StockNews.com raised Banner from a "sell" rating to a "hold" rating in a research report on Monday, April 28th. Janney Montgomery Scott upgraded Banner from a "neutral" rating to a "buy" rating and set a $71.00 price target for the company in a report on Monday, April 21st. Finally, Keefe, Bruyette & Woods dropped their price objective on Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $70.83.

Banner Stock Performance

BANR traded up $1.73 during trading on Thursday, hitting $63.68. The stock had a trading volume of 30,038 shares, compared to its average volume of 213,957. The firm has a market cap of $2.20 billion, a PE ratio of 13.05 and a beta of 0.90. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. Banner Co. has a 12 month low of $44.59 and a 12 month high of $78.05. The company has a 50 day simple moving average of $62.00 and a 200-day simple moving average of $67.00.

Banner (NASDAQ:BANR - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.23 by $0.06. Banner had a net margin of 20.28% and a return on equity of 10.03%. The company had revenue of $159.88 million for the quarter, compared to analyst estimates of $159.72 million. During the same period last year, the business posted $1.22 EPS. Analysts expect that Banner Co. will post 5.23 EPS for the current year.

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Tuesday, April 29th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, April 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.02%. Banner's payout ratio is 37.72%.

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.