Banner Corporation $BANR Shares Sold by Northern Trust Corp

Key Points

• Northern Trust Corp has reduced its stake in Banner Corporation by 1.1%, now owning approximately 1.39% of the company, worth about $30.76 million.
• Banner Corporation recently reported $1.35 earnings per share, surpassing the consensus estimate of $1.32, indicating strong financial performance.
• The company declared a quarterly dividend of $0.48 per share, reflecting an annual yield of 2.9%, with a payout ratio of 36.57%.

Northern Trust Corp cut its stake in shares of Banner Corporation (NASDAQ:BANR - Free Report) by 1.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 482,368 shares of the financial services provider's stock after selling 5,583 shares during the period. Northern Trust Corp owned about 1.39% of Banner worth $30,761,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Victory Capital Management Inc. raised its holdings in Banner by 20.3% in the first quarter. Victory Capital Management Inc. now owns 2,047,260 shares of the financial services provider's stock worth $130,554,000 after purchasing an additional 345,607 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Banner by 4.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,439,174 shares of the financial services provider's stock worth $91,776,000 after buying an additional 59,653 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Banner by 122.8% during the first quarter. Westwood Holdings Group Inc. now owns 1,142,987 shares of the financial services provider's stock worth $72,888,000 after purchasing an additional 630,004 shares during the period. Nuveen LLC acquired a new position in Banner during the first quarter worth $40,078,000. Finally, Aberdeen Group plc grew its holdings in Banner by 16.1% in the 1st quarter. Aberdeen Group plc now owns 370,443 shares of the financial services provider's stock valued at $23,623,000 after buying an additional 51,508 shares in the last quarter. Institutional investors own 87.33% of the company's stock.

Analysts Set New Price Targets

BANR has been the topic of a number of recent research reports. Wall Street Zen lowered Banner from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. DA Davidson increased their price objective on Banner from $67.00 to $72.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Banner has an average rating of "Moderate Buy" and an average price target of $70.17.

Banner Price Performance

NASDAQ:BANR remained flat at $67.79 during trading hours on Friday. The company had a trading volume of 46,372 shares, compared to its average volume of 215,527. The company has a market cap of $2.34 billion, a price-to-earnings ratio of 12.88 and a beta of 0.95. Banner Corporation has a 12 month low of $53.78 and a 12 month high of $78.05. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.40. The company has a 50 day moving average of $65.67 and a two-hundred day moving average of $63.84.

Banner (NASDAQ:BANR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping analysts' consensus estimates of $1.32 by $0.03. Banner had a return on equity of 10.06% and a net margin of 21.15%.The company had revenue of $162.98 million during the quarter, compared to analyst estimates of $167.96 million. On average, analysts expect that Banner Corporation will post 5.23 EPS for the current year.

Banner Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were given a $0.48 dividend. The ex-dividend date was Tuesday, August 5th. This represents a $1.92 dividend on an annualized basis and a yield of 2.8%. Banner's dividend payout ratio (DPR) 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.