ProShare Advisors LLC Decreases Stock Position in Banner Co. (NASDAQ:BANR)

ProShare Advisors LLC lowered its position in shares of Banner Co. (NASDAQ:BANR) by 23.6% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,277 shares of the financial services provider’s stock after selling 1,629 shares during the period. ProShare Advisors LLC’s holdings in Banner were worth $262,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. TFO Wealth Partners LLC boosted its holdings in Banner by 35,800.0% in the fourth quarter. TFO Wealth Partners LLC now owns 718 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 716 shares during the last quarter. EntryPoint Capital LLC grew its position in shares of Banner by 100.9% during the first quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock worth $53,000 after buying an additional 558 shares in the last quarter. Innealta Capital LLC bought a new stake in shares of Banner in the second quarter worth $53,000. CWM LLC raised its holdings in Banner by 60.1% in the second quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock valued at $94,000 after acquiring an additional 715 shares in the last quarter. Finally, Quest Partners LLC bought a new position in Banner during the 2nd quarter valued at $152,000. 87.33% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BANR. Piper Sandler upped their target price on shares of Banner from $51.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Raymond James increased their target price on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday. Janney Montgomery Scott downgraded Banner from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Stephens restated an “overweight” rating and set a $53.00 price objective on shares of Banner in a research note on Thursday, July 18th. Finally, StockNews.com lowered shares of Banner from a “hold” rating to a “sell” rating in a research note on Saturday, June 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $56.80.

Banner Price Performance

Shares of BANR opened at $59.50 on Friday. The stock has a fifty day moving average price of $57.52 and a 200 day moving average price of $51.16. The company has a market cap of $2.05 billion, a P/E ratio of 12.37 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.85 and a quick ratio of 0.85. Banner Co. has a 12 month low of $39.31 and a 12 month high of $61.77.

Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, July 17th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.03. Banner had a net margin of 20.93% and a return on equity of 10.89%. The firm had revenue of $149.75 million during the quarter, compared to analyst estimates of $149.66 million. On average, research analysts forecast that Banner Co. will post 4.71 earnings per share for the current year.

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 16th. Stockholders of record on Tuesday, August 6th were paid a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $1.92 annualized dividend and a dividend yield of 3.23%. Banner’s payout ratio is 39.92%.

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.