Fisher Asset Management LLC Lowers Holdings in Banner Co. (NASDAQ:BANR)

Fisher Asset Management LLC lessened its position in Banner Co. (NASDAQ:BANR) by 15.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 293,060 shares of the financial services provider’s stock after selling 53,459 shares during the period. Fisher Asset Management LLC’s holdings in Banner were worth $15,696,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in BANR. Goldman Sachs Group Inc. lifted its position in shares of Banner by 2.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 700,254 shares of the financial services provider’s stock worth $37,506,000 after purchasing an additional 20,041 shares during the period. Bridgeway Capital Management LLC lifted its position in shares of Banner by 10.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 262,413 shares of the financial services provider’s stock worth $14,055,000 after purchasing an additional 24,008 shares during the period. Black Maple Capital Management LP lifted its position in shares of Banner by 45.0% in the 4th quarter. Black Maple Capital Management LP now owns 7,250 shares of the financial services provider’s stock worth $388,000 after purchasing an additional 2,250 shares during the period. Comerica Bank lifted its position in shares of Banner by 2.2% in the 4th quarter. Comerica Bank now owns 18,004 shares of the financial services provider’s stock worth $964,000 after purchasing an additional 380 shares during the period. Finally, Petiole USA ltd lifted its position in shares of Banner by 1.6% in the 4th quarter. Petiole USA ltd now owns 62,382 shares of the financial services provider’s stock worth $3,341,000 after purchasing an additional 1,000 shares during the period. Institutional investors own 87.33% of the company’s stock.

Banner Trading Up 1.3 %

Shares of NASDAQ BANR opened at $47.42 on Wednesday. Banner Co. has a 1 year low of $39.31 and a 1 year high of $55.66. The stock has a market cap of $1.63 billion, a P/E ratio of 9.86 and a beta of 1.06. The firm has a 50-day moving average of $45.68 and a 200 day moving average of $47.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.82.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, April 17th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.05. The business had revenue of $144.55 million during the quarter, compared to analysts’ expectations of $150.67 million. Banner had a net margin of 21.62% and a return on equity of 11.47%. As a group, sell-side analysts expect that Banner Co. will post 4.72 EPS for the current fiscal year.

Banner Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, May 10th. Shareholders of record on Tuesday, April 30th were issued a $0.48 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.92 annualized dividend and a yield of 4.05%. Banner’s dividend payout ratio (DPR) is presently 39.92%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on BANR shares. StockNews.com cut shares of Banner from a “hold” rating to a “sell” rating in a research report on Saturday, June 8th. Piper Sandler dropped their target price on shares of Banner from $54.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Stephens lowered their price target on shares of Banner from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Finally, DA Davidson lowered their price target on shares of Banner from $50.00 to $47.00 and set a “neutral” rating for the company in a research report on Friday, April 19th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Banner currently has an average rating of “Hold” and an average target price of $51.20.

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.