Vanguard Group Inc. Sells 47,218 Shares of Banner Corporation $BANR

Key Points

• Vanguard Group Inc. has reduced its stake in Banner Corporation by 1.2%, owning approximately 3.97 million shares valued at $253.15 million as of the latest quarter.
• Banner Corporation announced a quarterly dividend of $0.48, reflecting an annual yield of 3.0% and a payout ratio of 36.57%.
• Analysts have set a range of target prices for Banner Corporation, with the average target being $70.17 and mixed ratings including hold and sell recommendations.

Vanguard Group Inc. lessened its holdings in shares of Banner Corporation (NASDAQ:BANR - Free Report) by 1.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,969,736 shares of the financial services provider's stock after selling 47,218 shares during the quarter. Vanguard Group Inc. owned 11.51% of Banner worth $253,150,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. increased its holdings 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 acquiring an additional 4,503 shares during the last quarter. Sterling Capital Management LLC increased its stake 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 purchasing an additional 964 shares in the last quarter. Envestnet Asset Management Inc. raised its position 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 valued at $1,854,000 after purchasing an additional 17,030 shares during the period. Invesco Ltd. lifted its stake in shares of Banner by 2.0% during the 4th quarter. Invesco Ltd. now owns 134,060 shares of the financial services provider's stock valued at $8,951,000 after buying an additional 2,637 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Banner in the 1st quarter worth approximately $352,000. Institutional investors own 87.33% of the company's stock.

Banner Stock Up 5.4%

Shares of Banner stock traded up $3.4550 during midday trading on Friday, hitting $67.2850. The company had a trading volume of 86,318 shares, compared to its average volume of 220,350. The stock has a market capitalization of $2.33 billion, a P/E ratio of 12.83 and a beta of 0.93. The company has a 50 day moving average of $64.71 and a 200 day moving average of $64.01. Banner Corporation has a 52-week low of $53.78 and a 52-week 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.

Banner (NASDAQ:BANR - Get Free Report) last issued its earnings results on Wednesday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.32 by $0.03. Banner had a net margin of 21.15% and a return on equity of 10.06%. The business had revenue of $162.98 million during the quarter, compared to analysts' expectations of $167.96 million. On average, equities analysts predict 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. Investors of record on Tuesday, August 5th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.9%. The ex-dividend date was Tuesday, August 5th. Banner's payout ratio is currently 36.57%.

Analyst Ratings Changes

BANR has been the topic of a number of analyst reports. Wall Street Zen cut shares of 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 stock a "neutral" rating in a report on Friday, July 18th. Three 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, the company has an average rating of "Moderate Buy" and a consensus price target of $70.17.

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.