CIBC Asset Management Inc Acquires New Stake in Banner Corporation (BANR)
CIBC Asset Management Inc acquired a new position in shares of Banner Corporation (NASDAQ:BANR) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 3,549 shares of the financial services provider’s stock, valued at approximately $201,000.
Several other hedge funds also recently added to or reduced their stakes in BANR. 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 during the period. Quantbot Technologies LP bought a new stake in Banner Corporation during the first quarter worth $107,000. Ameritas Investment Partners Inc. bought a new stake in Banner Corporation during the first quarter worth $144,000. KCG Holdings Inc. bought a new stake in Banner Corporation during the first quarter worth $208,000. Finally, 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 during the period. 88.50% of the stock is owned by hedge funds and other institutional investors.
Banner Corporation (NASDAQ BANR) opened at 54.88 on Tuesday. Banner Corporation has a one year low of $42.66 and a one year high of $60.97. The company’s 50 day moving average price is $56.48 and its 200-day moving average price is $56.07. The company has a market cap of $1.83 billion, a P/E ratio of 19.12 and a beta of 1.05.
Banner Corporation (NASDAQ:BANR) last issued its earnings results on Wednesday, July 26th. The financial services provider reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Banner Corporation had a return on equity of 7.50% and a net margin of 19.63%. The business had revenue of $122.18 million during the quarter, compared to analysts’ expectations of $119.46 million. On average, analysts forecast that Banner Corporation will post $3.09 EPS for the current fiscal year.
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A number of equities analysts recently commented on the company. BidaskClub upgraded Banner Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Zacks Investment Research upgraded Banner Corporation from a “sell” rating to a “buy” rating and set a $63.00 target price for the company in a report on Monday, July 3rd. Four analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus 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 company’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $56.77, for a total value of $189,214.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 10,338 shares of company stock valued at $577,298 over the last quarter. Company insiders own 1.71% of the company’s stock.
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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