Banner Corporation (NASDAQ:BANR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of Banner Corporation (NASDAQ:BANR - Free Report) by 3.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 341,611 shares of the financial services provider's stock after selling 12,496 shares during the period. Bank of New York Mellon Corp owned 0.99% of Banner worth $21,784,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Opal Wealth Advisors LLC purchased a new position in shares of Banner during the 1st quarter worth $34,000. GAMMA Investing LLC raised its holdings in Banner by 53.9% in the 1st quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock valued at $48,000 after buying an additional 264 shares during the period. USA Financial Formulas raised its holdings in Banner by 69.1% in the 1st quarter. USA Financial Formulas now owns 805 shares of the financial services provider's stock valued at $51,000 after buying an additional 329 shares during the period. Sterling Capital Management LLC raised its holdings in Banner by 816.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock valued at $72,000 after buying an additional 964 shares during the period. Finally, KBC Group NV raised its holdings in Banner by 20.1% in the 1st quarter. KBC Group NV now owns 1,989 shares of the financial services provider's stock valued at $127,000 after buying an additional 333 shares during the period. Hedge funds and other institutional investors own 87.33% of the company's stock.

Banner Stock Performance

Shares of BANR stock traded down $1.12 during trading hours on Friday, hitting $66.09. The stock had a trading volume of 222,898 shares, compared to its average volume of 217,949. The firm has a market capitalization of $2.29 billion, a PE ratio of 12.59 and a beta of 0.89. Banner Corporation has a twelve month low of $51.14 and a twelve month high of $78.05. The stock's 50 day moving average is $64.24 and its 200 day moving average is $64.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.88 and a quick ratio of 0.88.

Banner (NASDAQ:BANR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, beating the consensus estimate of $1.32 by $0.03. The business had revenue of $162.98 million during the quarter, compared to the consensus estimate of $167.96 million. Banner had a return on equity of 10.06% and a net margin of 21.15%. As a group, research analysts forecast that Banner Corporation will post 5.23 earnings per share for the current fiscal year.

Banner Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, August 15th. Investors of record on Tuesday, August 5th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.91%. The ex-dividend date is Tuesday, August 5th. Banner's dividend payout ratio is presently 36.57%.

Analysts Set New Price Targets

A number of brokerages have issued reports on BANR. Keefe, Bruyette & Woods cut their price target 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. Stephens reissued an "overweight" rating and set a $73.00 price objective on shares of Banner in a research report on Monday, April 21st. Wall Street Zen raised Banner from a "sell" rating to a "hold" rating in a report on Friday. Raymond James Financial reaffirmed an "outperform" rating and issued a $65.00 price target (down from $77.00) on shares of Banner in a report on Monday, April 21st. Finally, DA Davidson upped their price target on Banner from $67.00 to $72.00 and gave the company a "neutral" rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $70.17.

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.