Arrowstreet Capital Limited Partnership Cuts Stake in Banner Co. (NASDAQ:BANR)

Arrowstreet Capital Limited Partnership decreased its position in shares of Banner Co. (NASDAQ:BANR - Free Report) by 38.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,693 shares of the financial services provider's stock after selling 9,638 shares during the period. Arrowstreet Capital Limited Partnership's holdings in Banner were worth $1,048,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Financial Life Planners bought a new stake in Banner in the 4th quarter worth approximately $32,000. USA Financial Formulas bought a new stake in Banner in the fourth quarter worth $32,000. Smartleaf Asset Management LLC raised its stake in Banner by 167.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 705 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 441 shares in the last quarter. KBC Group NV lifted its position in Banner by 46.0% during the fourth quarter. KBC Group NV now owns 1,656 shares of the financial services provider's stock valued at $111,000 after purchasing an additional 522 shares during the last quarter. Finally, US Bancorp DE grew its stake 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 worth $117,000 after buying an additional 313 shares in the last quarter. Hedge funds and other institutional investors own 87.33% of the company's stock.

Banner Trading Up 1.0 %

BANR traded up $0.57 during trading hours on Thursday, reaching $60.25. 68,871 shares of the company's stock traded hands, compared to its average volume of 211,588. The firm has a 50-day moving average price of $64.08 and a 200 day moving average price of $67.01. The firm has a market capitalization of $2.08 billion, a PE ratio of 12.42 and a beta of 0.94. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. Banner Co. has a 52-week low of $42.00 and a 52-week high of $78.05.

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

Banner Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Tuesday, April 29th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.19%. Banner's dividend payout ratio (DPR) is presently 37.72%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on BANR shares. DA Davidson boosted their price objective on Banner from $73.00 to $76.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Stephens restated an "overweight" rating and set a $82.00 price target on shares of Banner in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $74.20.

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.