SG Americas Securities LLC Sells 10,095 Shares of Banner Co. (NASDAQ:BANR)

SG Americas Securities LLC lessened its holdings in Banner Co. (NASDAQ:BANR) by 85.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,685 shares of the financial services provider’s stock after selling 10,095 shares during the quarter. SG Americas Securities LLC’s holdings in Banner were worth $100,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its holdings in Banner by 18.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 795,929 shares of the financial services provider’s stock worth $39,510,000 after buying an additional 123,903 shares in the last quarter. AQR Capital Management LLC boosted its stake in Banner by 113.8% during the 2nd quarter. AQR Capital Management LLC now owns 71,915 shares of the financial services provider’s stock worth $3,570,000 after acquiring an additional 38,273 shares during the last quarter. Public Sector Pension Investment Board raised its stake in Banner by 7.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 75,787 shares of the financial services provider’s stock worth $3,762,000 after buying an additional 5,378 shares during the period. Intech Investment Management LLC bought a new position in Banner during the second quarter worth about $394,000. Finally, Denali Advisors LLC acquired a new position in Banner in the second quarter valued at about $323,000. 87.33% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BANR has been the topic of a number of research reports. Piper Sandler set a $67.00 price target on Banner in a report on Thursday, October 17th. Stephens reaffirmed an “overweight” rating and issued a $53.00 price objective on shares of Banner in a report on Thursday, July 18th. DA Davidson lifted their target price on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Janney Montgomery Scott downgraded shares of Banner from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Finally, Raymond James boosted their target price on shares of Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.60.

Banner Stock Down 2.1 %

NASDAQ BANR opened at $63.21 on Monday. Banner Co. has a 1 year low of $40.36 and a 1 year high of $68.11. The stock has a market capitalization of $2.18 billion, a PE ratio of 13.22 and a beta of 1.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84. The business’s 50-day moving average is $60.04 and its 200 day moving average is $53.06.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates 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 posted $1.43 earnings per share. Sell-side analysts forecast that Banner Co. will post 4.82 earnings per share for the current year.

Banner Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Tuesday, November 5th. Banner’s dividend payout ratio (DPR) is 40.17%.

Banner 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.