Banner Co. (NASDAQ:BANR) Position Lowered by Millennium Management LLC

Millennium Management LLC lowered its stake in shares of Banner Co. (NASDAQ:BANR - Free Report) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 426,304 shares of the financial services provider's stock after selling 49,136 shares during the quarter. Millennium Management LLC owned approximately 1.24% of Banner worth $28,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in BANR. Victory Capital Management Inc. increased its position in Banner by 28.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,701,653 shares of the financial services provider's stock valued at $113,619,000 after buying an additional 373,037 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in Banner by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,379,521 shares of the financial services provider's stock valued at $92,111,000 after buying an additional 49,457 shares during the last quarter. American Century Companies Inc. raised its position in Banner by 5.5% during the fourth quarter. American Century Companies Inc. now owns 738,356 shares of the financial services provider's stock valued at $49,300,000 after purchasing an additional 38,454 shares during the period. William Blair Investment Management LLC increased its stake in shares of Banner by 10,213.3% in the 4th quarter. William Blair Investment Management LLC now owns 634,579 shares of the financial services provider's stock valued at $42,371,000 after purchasing an additional 628,426 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in Banner by 16.9% in the 4th quarter. Northern Trust Corp now owns 487,951 shares of the financial services provider's stock valued at $32,580,000 after acquiring an additional 70,544 shares during the last quarter. Institutional investors and hedge funds own 87.33% of the company's stock.

Banner Stock Down 0.5%

Shares of Banner stock traded down $0.29 on Friday, reaching $61.83. 185,443 shares of the company were exchanged, compared to its average volume of 216,946. The stock's 50 day moving average price is $61.93 and its 200-day moving average price is $66.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.86 and a quick ratio of 0.85. Banner Co. has a 1-year low of $44.59 and a 1-year high of $78.05. The company has a market cap of $2.14 billion, a P/E ratio of 12.67 and a beta of 0.90.

Banner (NASDAQ:BANR - Get Free Report) last issued its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.06. The company had revenue of $159.88 million during the quarter, compared to analyst estimates of $159.72 million. Banner had a return on equity of 10.03% and a net margin of 20.28%. During the same period in the prior year, the business posted $1.22 earnings per share. As a group, equities analysts forecast that Banner Co. will post 5.23 EPS for the current year.

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Tuesday, April 29th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, April 29th. This represents a $1.92 annualized dividend and a dividend yield of 3.11%. Banner's dividend payout ratio (DPR) is presently 37.72%.

Analyst Ratings Changes

Several analysts recently commented on BANR shares. Raymond James reissued an "outperform" rating and set a $65.00 price objective (down from $77.00) on shares of Banner in a research report on Monday, April 21st. Janney Montgomery Scott upgraded shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 price target on the stock in a research report on Monday, April 21st. Stephens reiterated an "overweight" rating and issued a $73.00 price target on shares of Banner in a research report on Monday, April 21st. Keefe, Bruyette & Woods decreased their target price on Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Finally, Wall Street Zen lowered Banner from a "hold" rating to a "sell" rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Banner has an average rating of "Hold" and an average target price of $70.83.

Banner 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.