Putnam Investments LLC Sells 278 Shares of Banner Co. (NASDAQ:BANR)

Putnam Investments LLC trimmed its holdings in shares of Banner Co. (NASDAQ:BANR – Get Rating) by 1.8% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,397 shares of the financial services provider’s stock after selling 278 shares during the period. Putnam Investments LLC’s holdings in Banner were worth $910,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Millennium Management LLC raised its position in shares of Banner by 376.4% during the second quarter. Millennium Management LLC now owns 469,002 shares of the financial services provider’s stock worth $26,363,000 after purchasing an additional 370,545 shares during the period. Wellington Management Group LLP acquired a new position in shares of Banner during the first quarter worth approximately $20,165,000. Fort Washington Investment Advisors Inc. OH acquired a new position in shares of Banner during the third quarter worth approximately $13,364,000. State Street Corp raised its position in shares of Banner by 7.4% during the first quarter. State Street Corp now owns 1,821,229 shares of the financial services provider’s stock worth $106,597,000 after purchasing an additional 124,919 shares during the period. Finally, Thrivent Financial for Lutherans raised its position in shares of Banner by 58.1% during the second quarter. Thrivent Financial for Lutherans now owns 237,251 shares of the financial services provider’s stock worth $13,336,000 after purchasing an additional 87,181 shares during the period. 85.27% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BANR. StockNews.com raised Banner from a “sell” rating to a “hold” rating in a research report on Thursday, January 26th. Raymond James lowered their target price on Banner from $72.00 to $68.00 and set an “outperform” rating on the stock in a research report on Monday, January 23rd.

Banner Trading Down 8.2 %

NASDAQ BANR opened at $51.92 on Tuesday. The firm has a market capitalization of $1.78 billion, a P/E ratio of 9.16 and a beta of 1.04. The business has a fifty day simple moving average of $63.07 and a 200 day simple moving average of $65.24. Banner Co. has a 12 month low of $49.28 and a 12 month high of $75.72. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.31.

Banner Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, February 13th. Investors of record on Thursday, February 2nd were given a $0.48 dividend. This is a positive change from Banner’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date was Wednesday, February 1st. Banner’s dividend payout ratio is presently 33.86%.

Banner Profile

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Banner Corp. operates as a holding company for Banner Bank. It offers deposit services, business, commercial real estate, construction, residential, agricultural and consumer loans. It also provides commercial banking services and financial products to individuals, businesses and public sector entities.