State Street Corp Decreases Holdings in Banner Co. (NASDAQ:BANR)

State Street Corp cut its stake in Banner Co. (NASDAQ:BANR) by 0.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,787,741 shares of the financial services provider’s stock after selling 11,971 shares during the quarter. State Street Corp owned about 5.19% of Banner worth $106,478,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of BANR. Innealta Capital LLC purchased a new stake in shares of Banner during the 2nd quarter valued at about $53,000. US Bancorp DE raised its stake in shares of Banner by 287.1% during the third quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock valued at $86,000 after purchasing an additional 1,065 shares during the period. CWM LLC lifted its position in shares of Banner by 60.1% during the second quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock worth $94,000 after purchasing an additional 715 shares in the last quarter. Quest Partners LLC purchased a new position in shares of Banner in the second quarter valued at $152,000. Finally, Clear Creek Financial Management LLC acquired a new stake in Banner during the 3rd quarter valued at $209,000. Institutional investors and hedge funds own 87.33% of the company’s stock.

Insider Transactions at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total transaction of $113,445.00. Following the completion of the transaction, the vice president now directly owns 21,868 shares in the company, valued at $1,653,876.84. This represents a 6.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on BANR shares. Piper Sandler set a $67.00 price objective on shares of Banner in a research report on Thursday, October 17th. DA Davidson increased their price target on Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Raymond James raised their price objective on Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Keefe, Bruyette & Woods upped their target price on Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Banner currently has an average rating of “Hold” and an average target price of $67.00.

Banner Stock Down 0.9 %

NASDAQ:BANR opened at $71.37 on Monday. The stock has a 50-day simple moving average of $69.52 and a 200 day simple moving average of $59.60. Banner Co. has a one year low of $42.00 and a one year high of $78.05. The company has a market capitalization of $2.46 billion, a price-to-earnings ratio of 14.93 and a beta of 1.07. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.18 by $0.12. The company had revenue of $213.90 million during the quarter, compared to analyst estimates of $152.95 million. Banner had a return on equity of 10.22% and a net margin of 20.28%. During the same quarter last year, the firm earned $1.43 EPS. Sell-side analysts predict that Banner Co. will post 4.88 EPS for the current fiscal year.

Banner Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.69%. Banner’s dividend payout ratio (DPR) is 40.17%.

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.