Phocas Financial Corp. cut its stake in shares of Banner Co. (NASDAQ:BANR – Free Report) by 0.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,694 shares of the financial services provider’s stock after selling 695 shares during the quarter. Phocas Financial Corp. owned 0.38% of Banner worth $5,664,000 at the end of the most recent reporting period.
Several other large investors have also modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Banner by 1.5% during the 1st quarter. BlackRock Inc. now owns 5,045,063 shares of the financial services provider’s stock worth $295,288,000 after acquiring an additional 72,304 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Banner by 1.9% in the first quarter. Vanguard Group Inc. now owns 3,854,556 shares of the financial services provider’s stock valued at $225,607,000 after purchasing an additional 71,559 shares in the last quarter. State Street Corp lifted its holdings in shares of Banner by 7.4% in the first quarter. State Street Corp now owns 1,821,229 shares of the financial services provider’s stock valued at $106,597,000 after purchasing an additional 124,919 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Banner by 9.1% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 919,836 shares of the financial services provider’s stock valued at $58,134,000 after purchasing an additional 76,890 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Banner by 3.4% in the first quarter. Geode Capital Management LLC now owns 681,127 shares of the financial services provider’s stock valued at $37,033,000 after purchasing an additional 22,544 shares in the last quarter. 84.88% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research firms have recently issued reports on BANR. Stephens restated an “overweight” rating and issued a $53.00 target price on shares of Banner in a report on Thursday, July 20th. Raymond James reduced their target price on Banner from $58.00 to $50.00 and set an “outperform” rating for the company in a report on Friday, July 21st. Finally, StockNews.com upgraded Banner from a “sell” rating to a “hold” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Banner presently has an average rating of “Moderate Buy” and an average price target of $60.40.
Banner Stock Down 0.7 %
Shares of NASDAQ:BANR traded down $0.29 on Tuesday, reaching $42.95. The company had a trading volume of 38,817 shares, compared to its average volume of 202,189. The stock has a market capitalization of $1.48 billion, a P/E ratio of 7.49 and a beta of 1.02. The stock has a 50-day moving average price of $45.36 and a 200 day moving average price of $47.78. Banner Co. has a twelve month low of $41.57 and a twelve month high of $75.72. The company has a quick ratio of 0.80, a current ratio of 0.81 and a debt-to-equity ratio of 0.40.
Banner (NASDAQ:BANR – Get Free Report) last posted its earnings results on Wednesday, July 19th. The financial services provider reported $1.32 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.24). The company had revenue of $150.94 million during the quarter, compared to analyst estimates of $167.26 million. Banner had a return on equity of 14.40% and a net margin of 28.30%. On average, equities analysts expect that Banner Co. will post 5.74 EPS for the current year.
Banner Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 11th. Investors of record on Tuesday, August 1st were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.47%. The ex-dividend date was Monday, July 31st. Banner’s dividend payout ratio is currently 33.28%.
Banner Corporation operates as the bank holding company for Banner Bank that provide 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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