Harbor Capital Advisors Inc. Sells 1,219 Shares of Banner Co. (NASDAQ:BANR)

Harbor Capital Advisors Inc. lessened its holdings in Banner Co. (NASDAQ:BANR) by 11.6% in the fourth quarter, HoldingsChannel reports. The fund owned 9,258 shares of the financial services provider’s stock after selling 1,219 shares during the period. Harbor Capital Advisors Inc.’s holdings in Banner were worth $618,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in shares of Banner by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,361,774 shares of the financial services provider’s stock valued at $117,236,000 after acquiring an additional 37,780 shares during the period. Wellington Management Group LLP lifted its position in Banner by 12.2% during the third quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock worth $106,334,000 after purchasing an additional 193,434 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Banner by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,330,064 shares of the financial services provider’s stock worth $79,219,000 after purchasing an additional 43,398 shares during the period. Victory Capital Management Inc. lifted its position in Banner by 79.5% during the third quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock worth $79,132,000 after purchasing an additional 588,591 shares during the period. Finally, Geode Capital Management LLC lifted its position in Banner by 1.5% during the third quarter. Geode Capital Management LLC now owns 823,763 shares of the financial services provider’s stock worth $49,073,000 after purchasing an additional 11,808 shares during the period. Institutional investors own 87.33% of the company’s stock.

Insider Activity

In other news, VP James P.G. Mclean sold 1,500 shares of the firm’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 sale, the vice president now directly owns 21,868 shares of the company’s stock, valued at $1,653,876.84. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 1.60% of the company’s stock.

Analyst Upgrades and Downgrades

BANR has been the subject of a number of research reports. Piper Sandler set a $67.00 target price on shares of Banner in a report on Thursday, October 17th. DA Davidson increased their target price on shares of Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods increased their target price on shares of Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, Raymond James raised their price objective on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. One investment 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 MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $67.00.

Banner Price Performance

Shares of NASDAQ:BANR opened at $65.80 on Tuesday. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. The stock’s fifty day simple moving average is $70.77 and its two-hundred day simple moving average is $62.61. Banner Co. has a 1-year low of $42.00 and a 1-year high of $78.05. The stock has a market cap of $2.27 billion, a PE ratio of 13.77 and a beta of 1.09.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.12. Banner had a return on equity of 10.22% and a net margin of 20.28%. The business had revenue of $213.90 million for the quarter, compared to analysts’ expectations of $152.95 million. During the same period last year, the business earned $1.43 EPS. As a group, analysts forecast 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. Stockholders of record on Tuesday, November 5th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.92%. The ex-dividend date was Tuesday, November 5th. Banner’s dividend payout ratio is presently 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.