Vanguard Group Inc. Boosts Position in Banner Corporation (NASDAQ:BANR)
Vanguard Group Inc. boosted its position in shares of Banner Corporation (NASDAQ:BANR) by 8.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,733,227 shares of the financial services provider’s stock after buying an additional 201,612 shares during the period. Vanguard Group Inc. owned approximately 8.24% of Banner Corporation worth $152,077,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. Creative Planning raised its stake in Banner Corporation by 0.3% in the first quarter. Creative Planning now owns 1,828 shares of the financial services provider’s stock worth $102,000 after buying an additional 6 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Banner Corporation during the first quarter worth approximately $107,000. Ameritas Investment Partners Inc. purchased a new stake in Banner Corporation during the first quarter worth approximately $144,000. US Bancorp DE raised its stake in Banner Corporation by 28.5% in the first quarter. US Bancorp DE now owns 3,886 shares of the financial services provider’s stock worth $216,000 after buying an additional 863 shares in the last quarter. Finally, MUFG Americas Holdings Corp raised its stake in Banner Corporation by 1.2% in the first quarter. MUFG Americas Holdings Corp now owns 4,043 shares of the financial services provider’s stock worth $225,000 after buying an additional 48 shares in the last quarter. 88.24% of the stock is currently owned by institutional investors.
Banner Corporation (BANR) opened at 57.06 on Wednesday. Banner Corporation has a 52 week low of $40.65 and a 52 week high of $60.97. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 19.87 and a beta of 1.05. The company’s 50-day moving average is $56.41 and its 200 day moving average is $56.16.
Banner Corporation (NASDAQ:BANR) last posted its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.72 by $0.06. The firm had revenue of $122.18 million during the quarter, compared to analyst estimates of $119.46 million. Banner Corporation had a return on equity of 7.50% and a net margin of 19.63%. On average, analysts forecast that Banner Corporation will post $3.09 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th were given a $1.25 dividend. This represents a $5.00 dividend on an annualized basis and a yield of 8.76%. The ex-dividend date was Thursday, July 6th. Banner Corporation’s dividend payout ratio (DPR) is 34.72%.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Banner Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. BidaskClub lowered shares of Banner Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th. Finally, Piper Jaffray Companies cut their target price on shares of Banner Corporation from $64.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, April 17th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $55.75.
In other Banner Corporation news, Director Gary Sirmon sold 3,333 shares of the business’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $55.46, for a total value of $184,848.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 7,005 shares of company stock valued at $392,450. 1.71% of the stock is owned by insiders.
Banner Corporation Company Profile
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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