Trexquant Investment LP Sells 16,230 Shares of Banner Corporation $BANR

Key Points

• Trexquant Investment LP has reduced its stake in Banner Corporation by 40.5%, now holding approximately 0.07% of the company valued at $1.5 million.
• Wall Street analysts have mixed reviews on Banner Corporation, with a target price increase from $67.00 to $72.00 but a downgrade from "hold" to "sell" by some analysts.
• Banner recently announced a quarterly dividend of $0.48, representing a 2.8% dividend yield with a payout ratio of 36.57%.

Trexquant Investment LP trimmed its stake in shares of Banner Corporation (NASDAQ:BANR - Free Report) by 40.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 23,801 shares of the financial services provider's stock after selling 16,230 shares during the period. Trexquant Investment LP owned about 0.07% of Banner worth $1,518,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BANR. Victory Capital Management Inc. lifted its holdings in Banner by 20.3% in the 1st quarter. Victory Capital Management Inc. now owns 2,047,260 shares of the financial services provider's stock worth $130,554,000 after buying an additional 345,607 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Banner by 4.3% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,439,174 shares of the financial services provider's stock valued at $91,776,000 after acquiring an additional 59,653 shares in the last quarter. Westwood Holdings Group Inc. boosted its holdings in shares of Banner by 122.8% in the first quarter. Westwood Holdings Group Inc. now owns 1,142,987 shares of the financial services provider's stock valued at $72,888,000 after acquiring an additional 630,004 shares in the last quarter. Nuveen LLC acquired a new stake in Banner during the first quarter valued at approximately $40,078,000. Finally, Northern Trust Corp lifted its position in shares of 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 in the last quarter. 87.33% of the stock is owned by hedge funds and other institutional investors.

Banner Price Performance

Shares of BANR stock traded up $0.17 during trading hours on Thursday, hitting $66.78. 26,779 shares of the company's stock were exchanged, compared to its average volume of 213,269. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.40. The firm has a market cap of $2.31 billion, a P/E ratio of 12.73 and a beta of 0.95. The firm has a 50 day moving average of $65.80 and a two-hundred day moving average of $63.81. Banner Corporation has a fifty-two week low of $54.01 and a fifty-two week high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) last released its 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 during the quarter, compared to analysts' expectations of $167.96 million. Banner had a return on equity of 10.06% and a net margin of 21.15%. Sell-side analysts forecast that Banner Corporation will post 5.23 EPS for the current year.

Banner Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Investors of record on Tuesday, August 5th were issued 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 2.9%. Banner's dividend payout ratio is currently 36.57%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Wall Street Zen lowered shares of Banner from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. DA Davidson upped their price target on shares of Banner from $67.00 to $72.00 and gave the stock a "neutral" rating in a research report on Friday, July 18th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $70.17.

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.