Deutsche Bank AG Decreases Stake in Banner Corporation $BANR

Key Points

• Deutsche Bank AG reduced its stake in Banner Corporation by 61.4%, owning approximately 0.13% of the company, valued at $2.89 million, after selling 72,206 shares in the 1st quarter.
• Banner Corporation announced a quarterly dividend of $0.48 per share, resulting in an annualized yield of 3.0%, with a payout ratio of 36.57%.
• Analysts have a consensus rating of "Moderate Buy" for Banner Corporation, with a price target averaging $70.17, reflecting recent adjustments in ratings and price forecasts.

Deutsche Bank AG lowered its stake in shares of Banner Corporation (NASDAQ:BANR - Free Report) by 61.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,298 shares of the financial services provider's stock after selling 72,206 shares during the period. Deutsche Bank AG owned 0.13% of Banner worth $2,889,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in BANR. Principal Financial Group Inc. boosted its stake in Banner by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 171,592 shares of the financial services provider's stock worth $10,942,000 after purchasing an additional 4,503 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of Banner by 816.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock worth $72,000 after buying an additional 964 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Banner by 141.4% in the first quarter. Envestnet Asset Management Inc. now owns 29,071 shares of the financial services provider's stock worth $1,854,000 after buying an additional 17,030 shares in the last quarter. Invesco Ltd. boosted its position in shares of Banner by 2.0% in the fourth quarter. Invesco Ltd. now owns 134,060 shares of the financial services provider's stock valued at $8,951,000 after acquiring an additional 2,637 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Banner during the first quarter valued at approximately $352,000. 87.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

BANR has been the topic of several recent analyst reports. DA Davidson increased their target price 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. Wall Street Zen cut shares of Banner from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Banner has an average rating of "Moderate Buy" and an average target price of $70.17.

Banner Price Performance

BANR traded up $3.88 during midday trading on Friday, hitting $67.71. The stock had a trading volume of 199,019 shares, compared to its average volume of 218,636. Banner Corporation has a 1 year low of $53.78 and a 1 year high of $78.05. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.88 and a current ratio of 0.88. The business has a fifty day moving average of $64.71 and a 200 day moving average of $64.01. The company has a market cap of $2.34 billion, a P/E ratio of 12.90 and a beta of 0.93.

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

Banner Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, August 5th. This represents a $1.92 annualized dividend and a yield of 2.8%. Banner's payout ratio is currently 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.