Voya Investment Management LLC Decreases Stake in Banner Co. (NASDAQ:BANR)

Voya Investment Management LLC decreased its position in shares of Banner Co. (NASDAQ:BANR - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,388 shares of the financial services provider's stock after selling 5,529 shares during the quarter. Voya Investment Management LLC owned 0.08% of Banner worth $1,895,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BANR. USA Financial Formulas bought a new position in shares of Banner during the fourth quarter worth $32,000. Financial Life Planners acquired a new stake in Banner in the fourth quarter worth about $32,000. Smartleaf Asset Management LLC lifted its stake in shares of Banner by 167.0% during the fourth quarter. Smartleaf Asset Management LLC now owns 705 shares of the financial services provider's stock worth $47,000 after buying an additional 441 shares during the period. Sterling Capital Management LLC grew its stake in Banner by 816.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 964 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Banner by 46.0% during the fourth quarter. KBC Group NV now owns 1,656 shares of the financial services provider's stock worth $111,000 after purchasing an additional 522 shares during the last quarter. Institutional investors own 87.33% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. 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 note on Monday, April 21st. StockNews.com raised shares of Banner from a "sell" rating to a "hold" rating in a research note on Monday, April 28th. Keefe, Bruyette & Woods reduced their price target 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. Janney Montgomery Scott upgraded Banner from a "neutral" rating to a "buy" rating and set a $71.00 price objective on the stock in a report on Monday, April 21st. Finally, Stephens reaffirmed an "overweight" rating and set a $73.00 price objective on shares of Banner in a report on Monday, April 21st. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Banner presently has an average rating of "Moderate Buy" and a consensus target price of $70.83.

Banner Stock Performance

Shares of NASDAQ BANR traded down $0.45 during trading hours on Tuesday, hitting $61.61. 190,591 shares of the company's stock were exchanged, compared to its average volume of 214,285. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 12.63 and a beta of 0.90. The company's 50-day moving average price is $62.14 and its 200-day moving average price is $67.03. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.86 and a quick ratio of 0.85. Banner Co. has a 1-year low of $44.59 and a 1-year high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) last announced its quarterly earnings data on Wednesday, April 16th. The financial services provider reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.06. Banner had a return on equity of 10.03% and a net margin of 20.28%. The firm had revenue of $159.88 million for the quarter, compared to analyst estimates of $159.72 million. During the same period last year, the company earned $1.22 EPS. On average, sell-side analysts expect that Banner Co. will post 5.23 earnings per share for the current fiscal year.

Banner Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Tuesday, April 29th will be issued a dividend of $0.48 per share. The ex-dividend date is Tuesday, April 29th. This represents a $1.92 annualized dividend and a dividend yield of 3.12%. Banner's dividend payout ratio is presently 37.72%.

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.