Two Sigma Advisers LP Sells 44,500 Shares of Banner Co. (NASDAQ:BANR)

Two Sigma Advisers LP decreased its stake in Banner Co. (NASDAQ:BANR - Free Report) by 62.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 27,100 shares of the financial services provider's stock after selling 44,500 shares during the quarter. Two Sigma Advisers LP owned approximately 0.08% of Banner worth $1,809,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BANR. Victory Capital Management Inc. raised its holdings in shares of Banner by 28.1% during the fourth quarter. Victory Capital Management Inc. now owns 1,701,653 shares of the financial services provider's stock valued at $113,619,000 after acquiring an additional 373,037 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Banner by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,379,521 shares of the financial services provider's stock worth $92,111,000 after acquiring an additional 49,457 shares during the period. American Century Companies Inc. boosted its position in shares of Banner by 5.5% during the fourth quarter. American Century Companies Inc. now owns 738,356 shares of the financial services provider's stock worth $49,300,000 after buying an additional 38,454 shares during the period. William Blair Investment Management LLC boosted its position in shares of Banner by 10,213.3% during the fourth quarter. William Blair Investment Management LLC now owns 634,579 shares of the financial services provider's stock worth $42,371,000 after buying an additional 628,426 shares during the period. Finally, Northern Trust Corp boosted its position 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 period. Hedge funds and other institutional investors own 87.33% of the company's stock.

Banner Stock Up 1.3%

Shares of Banner stock traded up $0.78 during trading hours on Tuesday, hitting $61.96. 194,202 shares of the company's stock traded hands, compared to its average volume of 215,482. The company has a market cap of $2.14 billion, a PE ratio of 12.70 and a beta of 0.90. Banner Co. has a twelve month low of $44.90 and a twelve month high of $78.05. The stock has a 50 day simple moving average of $61.51 and a 200-day simple moving average of $66.31. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32.

Banner (NASDAQ:BANR - Get Free Report) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.06. The firm had revenue of $159.88 million for the quarter, compared to analysts' expectations of $159.72 million. Banner had a net margin of 20.28% and a return on equity of 10.03%. During the same quarter last year, the company posted $1.22 earnings per share. Equities research analysts anticipate that Banner Co. will post 5.23 earnings per share for the current fiscal year.

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 9th. Shareholders of record on Tuesday, April 29th were given a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, April 29th. This represents a $1.92 annualized dividend and a yield of 3.10%. Banner's dividend payout ratio (DPR) is 37.72%.

Analyst Ratings Changes

BANR has been the subject of a number of recent analyst reports. Stephens reaffirmed an "overweight" rating and set a $73.00 price target on shares of Banner in a report on Monday, April 21st. Raymond James restated an "outperform" rating and issued a $65.00 price target (down previously from $77.00) on shares of Banner in a research report on Monday, April 21st. Wall Street Zen cut Banner from a "hold" rating to a "sell" rating in a research report on Thursday, May 29th. Janney Montgomery Scott upgraded Banner from a "neutral" rating to a "buy" rating and set a $71.00 target price on the stock in a research report on Monday, April 21st. Finally, Keefe, Bruyette & Woods dropped 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Banner presently has a consensus rating of "Hold" and a consensus target price of $70.83.

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.