Hennessy Advisors Inc. Reduces Position in Banner Corporation (NASDAQ:BANR)

Hennessy Advisors Inc. lowered its holdings in shares of Banner Corporation (NASDAQ:BANR - Free Report) by 47.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,000 shares of the financial services provider's stock after selling 18,000 shares during the period. Hennessy Advisors Inc. owned approximately 0.06% of Banner worth $1,275,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its stake in Banner by 167.0% during the 4th 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. GAMMA Investing LLC raised its holdings in shares of Banner by 53.9% in the 1st quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock worth $48,000 after acquiring an additional 264 shares during the last quarter. USA Financial Formulas boosted its stake in Banner by 69.1% during the 1st quarter. USA Financial Formulas now owns 805 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 329 shares during the last quarter. Sterling Capital Management LLC increased its holdings in Banner by 816.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock worth $72,000 after purchasing an additional 964 shares in the last quarter. Finally, US Bancorp DE raised its position in 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 buying an additional 313 shares during the last quarter. Institutional investors and hedge funds own 87.33% of the company's stock.

Banner Trading Up 1.7%

NASDAQ:BANR traded up $1.01 during midday trading on Thursday, reaching $62.20. 311,336 shares of the stock traded hands, compared to its average volume of 214,797. The stock has a market capitalization of $2.15 billion, a P/E ratio of 12.22 and a beta of 0.90. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.85 and a current ratio of 0.86. The company has a fifty day moving average of $61.90 and a 200 day moving average of $65.42. Banner Corporation has a 12 month low of $46.03 and a 12 month high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts' consensus estimates of $1.23 by $0.06. Banner had a net margin of 20.77% and a return on equity of 9.95%. The business had revenue of $159.88 million for the quarter, compared to analysts' expectations of $159.72 million. During the same quarter in the prior year, the company earned $1.22 earnings per share. On average, research analysts predict that Banner Corporation will post 5.23 EPS for the current year.

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Tuesday, April 29th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.09%. The ex-dividend date of this dividend was Tuesday, April 29th. Banner's dividend payout ratio is currently 37.72%.

Wall Street Analyst Weigh In

Several research firms have commented on BANR. Wall Street Zen lowered shares of Banner from a "hold" rating to a "sell" rating in a research note on Thursday, May 29th. 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 research note on Monday, April 21st. Janney Montgomery Scott upgraded Banner from a "neutral" rating to a "buy" rating and set a $71.00 target price on the stock in a research note on Monday, April 21st. Raymond James Financial reiterated an "outperform" rating and set a $65.00 price target (down previously from $77.00) on shares of Banner in a research note on Monday, April 21st. Finally, Stephens reaffirmed an "overweight" rating and set a $73.00 price objective on shares of Banner in a report on Monday, April 21st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Banner presently has an average rating of "Hold" and a consensus price target of $70.83.

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.