Wellington Management Group LLP Trims Stake in Banner Corporation $BANR

Key Points

• Wellington Management Group LLP reduced its stake in Banner Corporation by 0.6%, now owning 1.76 million shares valued at approximately $112 million.
• Several institutional investors increased their holdings in Banner Corporation, with Aberdeen Group plc growing its position by 16.1% during the same period.
• Banner Corporation recently announced a quarterly dividend of $0.48 per share, representing a 3.0% yield and a dividend payout ratio of 36.57%.

Wellington Management Group LLP lessened its holdings in Banner Corporation (NASDAQ:BANR - Free Report) by 0.6% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,761,767 shares of the financial services provider's stock after selling 10,347 shares during the period. Wellington Management Group LLP owned 5.09% of Banner worth $112,348,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in BANR. Aberdeen Group plc grew its position in Banner by 16.1% during the first quarter. Aberdeen Group plc now owns 370,443 shares of the financial services provider's stock worth $23,623,000 after buying an additional 51,508 shares in the last quarter. Neuberger Berman Group LLC bought a new stake in shares of Banner during the 1st quarter valued at about $340,000. HighTower Advisors LLC grew its holdings in shares of Banner by 5.0% during the first quarter. HighTower Advisors LLC now owns 4,808 shares of the financial services provider's stock worth $307,000 after purchasing an additional 230 shares in the last quarter. Public Sector Pension Investment Board increased its position in shares of Banner by 27.3% in the first quarter. Public Sector Pension Investment Board now owns 109,292 shares of the financial services provider's stock worth $6,970,000 after purchasing an additional 23,417 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in Banner in the first quarter valued at approximately $40,078,000. Institutional investors own 87.33% of the company's stock.

Wall Street Analyst Weigh In

BANR has been the subject of a number of research reports. Wall Street Zen cut shares of Banner from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. DA Davidson upped their target price 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 research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $70.17.

Banner Stock Down 0.5%

Shares of NASDAQ BANR opened at $63.83 on Friday. The stock has a market capitalization of $2.21 billion, a P/E ratio of 12.16 and a beta of 0.93. Banner Corporation has a one year low of $53.78 and a one year high of $78.05. The firm's 50 day simple moving average is $64.71 and its two-hundred day simple moving average is $64.01. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.88 and a quick ratio of 0.88.

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

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 15th. Stockholders of record on Tuesday, August 5th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, August 5th. Banner's dividend payout ratio (DPR) is 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.

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