Raymond James Financial Inc. Has $9.29 Million Holdings in Banner Corporation $BANR

Key Points

• Raymond James Financial Inc. reduced its holdings in Banner Corporation by 3.0%, owning 145,670 shares worth $9.29 million at the end of the first quarter.
• Institutional investors and hedge funds now own 87.33% of Banner Corporation's stock, with several firms like Price T Rowe Associates and Northern Trust significantly increasing their stakes.
• Banner Corporation reported a quarterly earnings per share of $1.35, exceeding analysts' expectations, while also announcing a quarterly dividend of $0.48, yielding 2.9%.

Raymond James Financial Inc. cut its stake in Banner Corporation (NASDAQ:BANR - Free Report) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,670 shares of the financial services provider's stock after selling 4,447 shares during the period. Raymond James Financial Inc. owned 0.42% of Banner worth $9,289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of BANR. Price T Rowe Associates Inc. MD raised its stake in shares of Banner by 9.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 25,462 shares of the financial services provider's stock worth $1,701,000 after acquiring an additional 2,226 shares during the last quarter. Northern Trust Corp raised its stake in shares of Banner by 16.9% during the fourth quarter. Northern Trust Corp now owns 487,951 shares of the financial services provider's stock worth $32,580,000 after buying an additional 70,544 shares during the last quarter. Lido Advisors LLC raised its stake in shares of Banner by 29.8% during the fourth quarter. Lido Advisors LLC now owns 5,381 shares of the financial services provider's stock worth $359,000 after buying an additional 1,236 shares during the last quarter. Comerica Bank raised its stake in shares of Banner by 4.3% during the fourth quarter. Comerica Bank now owns 14,060 shares of the financial services provider's stock worth $939,000 after buying an additional 586 shares during the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in shares of Banner by 2.0% during the fourth quarter. Bridgeway Capital Management LLC now owns 237,238 shares of the financial services provider's stock worth $15,840,000 after buying an additional 4,716 shares during the last quarter. 87.33% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BANR. Wall Street Zen downgraded shares of Banner from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. DA Davidson boosted their price target on shares of Banner from $67.00 to $72.00 and gave the stock a "neutral" rating in a research note on Friday, July 18th. Three equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $70.17.

Banner Trading Up 0.7%

NASDAQ BANR traded up $0.45 during trading on Thursday, reaching $67.16. 34,790 shares of the stock traded hands, compared to its average volume of 216,115. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 12.83 and a beta of 0.95. The stock's 50-day moving average price is $65.61 and its 200 day moving average price is $63.85. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.40. Banner Corporation has a fifty-two week low of $53.78 and a fifty-two week high of $78.05.

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

Banner Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 2.9%. The ex-dividend date was Tuesday, August 5th. Banner's dividend payout ratio is 36.57%.

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.