Banner Co. (NASDAQ:BANR) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership lowered its stake in Banner Co. (NASDAQ:BANR) by 38.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,693 shares of the financial services provider’s stock after selling 9,638 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Banner were worth $1,048,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in Banner during the fourth quarter worth approximately $32,000. USA Financial Formulas purchased a new stake in shares of Banner during the 4th quarter worth approximately $32,000. Smartleaf Asset Management LLC boosted its holdings in shares of Banner by 167.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 705 shares of the financial services provider’s stock valued at $47,000 after buying an additional 441 shares in the last quarter. KBC Group NV grew its position in shares of Banner by 46.0% in the 4th quarter. KBC Group NV now owns 1,656 shares of the financial services provider’s stock valued at $111,000 after buying an additional 522 shares during the last quarter. Finally, US Bancorp DE raised its stake in Banner by 21.8% during the 4th quarter. US Bancorp DE now owns 1,749 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 313 shares in the last quarter. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Banner Stock Performance

Shares of BANR stock opened at $56.51 on Friday. Banner Co. has a 52-week low of $42.00 and a 52-week high of $78.05. The stock’s 50-day moving average price is $64.78 and its 200 day moving average price is $67.07. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $1.95 billion, a PE ratio of 11.58 and a beta of 0.94.

Banner (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 EPS for the quarter, topping the consensus estimate of $1.22 by $0.11. Banner had a return on equity of 10.03% and a net margin of 20.28%. As a group, equities research analysts forecast that Banner Co. will post 5.23 EPS for the current year.

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Tuesday, February 4th. Banner’s payout ratio is 39.34%.

Wall Street Analyst Weigh In

Several research firms have issued reports on BANR. DA Davidson upped their price objective on shares of Banner from $73.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. Stephens reissued an “overweight” rating and issued a $82.00 target price on shares of Banner in a research report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $74.20.

About Banner

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.