Banner Corporation (NASDAQ:BANR) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in Banner Corporation (NASDAQ:BANR - Free Report) by 5.8% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 163,155 shares of the financial services provider's stock after selling 10,071 shares during the period. Allspring Global Investments Holdings LLC owned 0.47% of Banner worth $10,360,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Summit Investment Advisors Inc. boosted its holdings in shares of Banner by 5.5% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,591 shares of the financial services provider's stock valued at $240,000 after purchasing an additional 187 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Banner by 53.9% in the first quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 264 shares during the period. US Bancorp DE boosted its holdings in shares of Banner by 21.8% in the fourth 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. USA Financial Formulas lifted its holdings in Banner by 69.1% during the first quarter. USA Financial Formulas now owns 805 shares of the financial services provider's stock worth $51,000 after buying an additional 329 shares during the period. Finally, Bank of Montreal Can lifted its holdings in Banner by 9.5% during the fourth quarter. Bank of Montreal Can now owns 3,792 shares of the financial services provider's stock worth $253,000 after buying an additional 330 shares during the period. Hedge funds and other institutional investors own 87.33% of the company's stock.

Analyst Ratings Changes

BANR has been the subject of a number of analyst reports. Keefe, Bruyette & Woods lowered their target price on Banner from $75.00 to $73.00 and set a "market perform" rating for the company in a report on Monday, April 21st. Wall Street Zen lowered Banner from a "hold" rating to a "sell" rating in a report on Thursday, May 29th. Janney Montgomery Scott upgraded Banner from a "neutral" rating to a "buy" rating and set a $71.00 target price for the company in a report on Monday, April 21st. Raymond James Financial restated an "outperform" rating and set a $65.00 target price (down previously from $77.00) on shares of Banner in a report on Monday, April 21st. Finally, Stephens restated an "overweight" rating and set a $73.00 target price on shares of Banner in a report on Monday, April 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Banner currently has an average rating of "Hold" and a consensus target price of $70.83.

Banner Stock Down 1.0%

Shares of BANR traded down $0.71 during midday trading on Monday, hitting $67.96. 206,952 shares of the company's stock traded hands, compared to its average volume of 217,578. Banner Corporation has a 1 year low of $47.43 and a 1 year high of $78.05. The firm's fifty day moving average is $63.23 and its 200-day moving average is $64.75. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 13.35 and a beta of 0.89.

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 (EPS) for the quarter, beating the consensus estimate of $1.23 by $0.06. Banner had a return on equity of 9.95% and a net margin of 20.77%. The firm had revenue of $159.88 million for the quarter, compared to the consensus estimate of $159.72 million. During the same period in the prior year, the firm earned $1.22 EPS. As a group, sell-side analysts anticipate that Banner Corporation will post 5.23 earnings per share for the current year.

Banner Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Tuesday, April 29th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Tuesday, April 29th. Banner's payout ratio is 37.72%.

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.