Rhumbline Advisers Cuts Holdings in Banner Co. (BANR)

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Rhumbline Advisers lessened its holdings in shares of Banner Co. (NASDAQ:BANR) by 7.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,214 shares of the financial services provider’s stock after selling 6,704 shares during the quarter. Rhumbline Advisers’ holdings in Banner were worth $4,987,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. BlackRock Inc. boosted its position in Banner by 5.7% during the second quarter. BlackRock Inc. now owns 4,725,946 shares of the financial services provider’s stock worth $284,171,000 after purchasing an additional 253,397 shares during the period. Dimensional Fund Advisors LP boosted its position in Banner by 9.8% during the second quarter. Dimensional Fund Advisors LP now owns 2,589,380 shares of the financial services provider’s stock worth $155,701,000 after purchasing an additional 231,836 shares during the period. JPMorgan Chase & Co. boosted its position in Banner by 15.4% during the third quarter. JPMorgan Chase & Co. now owns 934,512 shares of the financial services provider’s stock worth $58,100,000 after purchasing an additional 124,830 shares during the period. Millennium Management LLC boosted its position in Banner by 7.5% during the second quarter. Millennium Management LLC now owns 475,819 shares of the financial services provider’s stock worth $28,611,000 after purchasing an additional 33,390 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in Banner by 20.3% during the third quarter. Russell Investments Group Ltd. now owns 348,752 shares of the financial services provider’s stock worth $21,681,000 after purchasing an additional 58,925 shares during the period. Hedge funds and other institutional investors own 90.93% of the company’s stock.

In other news, VP Peter Conner sold 580 shares of the stock in a transaction dated Friday, November 16th. The shares were sold at an average price of $60.32, for a total value of $34,985.60. Following the sale, the vice president now directly owns 24,222 shares of the company’s stock, valued at $1,461,071.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.71% of the company’s stock.

A number of brokerages have weighed in on BANR. BidaskClub upgraded shares of Banner from a “buy” rating to a “strong-buy” rating in a research report on Friday, August 10th. Stephens reiterated a “hold” rating and set a $68.00 target price on shares of Banner in a research report on Thursday, September 6th. FIG Partners upgraded shares of Banner from a “market perform” rating to an “outperform” rating in a research report on Friday, October 26th. ValuEngine lowered shares of Banner from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. Finally, Piper Jaffray Companies set a $62.00 target price on shares of Banner and gave the stock a “hold” rating in a research report on Wednesday, October 31st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $66.00.

Shares of Banner stock opened at $58.21 on Friday. Banner Co. has a 12-month low of $52.10 and a 12-month high of $67.11. The stock has a market capitalization of $1.85 billion, a PE ratio of 15.09, a PEG ratio of 2.04 and a beta of 0.89. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.34.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.25. Banner had a net margin of 16.08% and a return on equity of 9.74%. The firm had revenue of $129.49 million for the quarter, compared to the consensus estimate of $125.29 million. On average, analysts anticipate that Banner Co. will post 4 earnings per share for the current year.

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About Banner

Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank, which provides commercial banking and financial products and services to individuals, businesses, and public sector entities primarily in the United States. It offers deposit products, 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.

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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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