The Manufacturers Life Insurance Company decreased its stake in shares of Banner Co. (NASDAQ:BANR - Free Report) by 4.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 757,734 shares of the financial services provider's stock after selling 32,247 shares during the quarter. The Manufacturers Life Insurance Company owned about 2.20% of Banner worth $50,594,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently modified their holdings of the company. Barclays PLC lifted its position in Banner by 97.4% in the 3rd quarter. Barclays PLC now owns 75,768 shares of the financial services provider's stock valued at $4,512,000 after acquiring an additional 37,390 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Banner by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 409,885 shares of the financial services provider's stock valued at $24,413,000 after purchasing an additional 29,174 shares in the last quarter. Diversified Trust Co grew its holdings in Banner by 9.6% during the fourth quarter. Diversified Trust Co now owns 11,211 shares of the financial services provider's stock worth $749,000 after buying an additional 978 shares in the last quarter. USA Financial Formulas purchased a new stake in Banner in the 4th quarter valued at $32,000. Finally, KBC Group NV lifted its stake in Banner by 46.0% during the 4th quarter. KBC Group NV now owns 1,656 shares of the financial services provider's stock valued at $111,000 after acquiring an additional 522 shares in the last quarter. Institutional investors own 87.33% of the company's stock.
Wall Street Analyst Weigh In
BANR has been the topic of several research analyst reports. Raymond James reissued an "outperform" rating and issued a $65.00 price objective (down previously from $77.00) on shares of Banner in a research report on Monday, April 21st. Stephens restated an "overweight" rating and set a $73.00 price objective on shares of Banner in a report on Monday, April 21st. Keefe, Bruyette & Woods dropped their target price on shares of Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. StockNews.com upgraded shares of Banner from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Finally, Janney Montgomery Scott upgraded Banner from a "neutral" rating to a "buy" rating and set a $71.00 price objective on the stock in a research note on Monday, April 21st. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $70.83.
Read Our Latest Stock Analysis on Banner
Banner Price Performance
NASDAQ:BANR traded down $0.07 during mid-day trading on Tuesday, reaching $61.99. The stock had a trading volume of 27,205 shares, compared to its average volume of 213,160. Banner Co. has a one year low of $44.59 and a one year high of $78.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a 50 day moving average price of $62.28 and a two-hundred day moving average price of $67.07. The stock has a market capitalization of $2.14 billion, a P/E ratio of 12.72 and a beta of 0.90.
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. The business had revenue of $159.88 million for the quarter, compared to analyst estimates 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 EPS. As a group, analysts expect that Banner Co. will post 5.23 earnings per share for the current year.
Banner Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Shareholders of record on Tuesday, April 29th will be issued a dividend of $0.48 per share. 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 3.10%. Banner's dividend payout ratio (DPR) is 37.72%.
Banner Company Profile
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Free Report)
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.
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