FMR LLC cut its holdings in Banner Corporation (NASDAQ:BANR) by 7.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,027,271 shares of the financial services provider’s stock after selling 151,562 shares during the period. FMR LLC owned approximately 6.09% of Banner Corporation worth $114,561,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the business. Quantbot Technologies LP purchased a new position in Banner Corporation in the first quarter valued at approximately $107,000. Creative Planning lifted its stake in Banner Corporation by 4.6% in the second quarter. Creative Planning now owns 1,913 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 85 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Banner Corporation by 236.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,135 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 1,500 shares during the last quarter. Riverhead Capital Management LLC lifted its stake in Banner Corporation by 182.8% in the second quarter. Riverhead Capital Management LLC now owns 2,262 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 1,462 shares during the last quarter. Finally, Ameritas Investment Partners Inc. purchased a new position in Banner Corporation in the first quarter valued at approximately $144,000. Institutional investors and hedge funds own 88.46% of the company’s stock.
Several research firms recently commented on BANR. ValuEngine cut shares of Banner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. BidaskClub raised shares of Banner Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 30th. Zacks Investment Research cut shares of Banner Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Stephens began coverage on shares of Banner Corporation in a report on Wednesday, September 13th. They issued an “equal weight” rating and a $60.00 price target on the stock. Six analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $57.75.
Banner Corporation (BANR) opened at 60.75 on Wednesday. The company has a market cap of $2.02 billion, a P/E ratio of 21.16 and a beta of 1.04. The firm’s 50 day moving average is $58.26 and its 200-day moving average is $56.22. Banner Corporation has a 52 week low of $43.85 and a 52 week high of $62.24.
Banner Corporation (NASDAQ:BANR) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. Banner Corporation had a net margin of 19.63% and a return on equity of 7.50%. The company had revenue of $122.18 million for the quarter, compared to analyst estimates of $119.46 million. On average, analysts predict that Banner Corporation will post $3.13 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be given a $0.25 dividend. The ex-dividend date is Friday, October 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.65%. Banner Corporation’s dividend payout ratio is presently 34.72%.
In other Banner Corporation news, VP Cynthia D. Purcell sold 1,007 shares of the company’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $55.61, for a total value of $55,999.27. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gary Sirmon sold 3,335 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $57.49, for a total transaction of $191,729.15. The disclosure for this sale can be found here. Insiders sold a total of 7,925 shares of company stock worth $446,739 over the last quarter. Insiders own 1.71% of the company’s stock.
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About Banner Corporation
Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.
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