Banner Corporation (BANR) Stake Lowered by Morgan Stanley
Morgan Stanley cut its stake in Banner Corporation (NASDAQ:BANR) by 52.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 43,784 shares of the financial services provider’s stock after selling 47,787 shares during the period. Morgan Stanley owned 0.13% of Banner Corporation worth $2,436,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of BANR. Creative Planning boosted its position in shares of Banner Corporation by 0.3% in the first quarter. Creative Planning now owns 1,828 shares of the financial services provider’s stock valued at $102,000 after buying an additional 6 shares in the last quarter. Quantbot Technologies LP purchased a new position in shares of Banner Corporation during the first quarter valued at about $107,000. Ameritas Investment Partners Inc. purchased a new position in shares of Banner Corporation during the first quarter valued at about $144,000. US Bancorp DE boosted its position in shares of Banner Corporation by 28.5% in the first quarter. US Bancorp DE now owns 3,886 shares of the financial services provider’s stock valued at $216,000 after buying an additional 863 shares in the last quarter. Finally, MUFG Americas Holdings Corp boosted its position in shares of 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 valued at $225,000 after buying an additional 48 shares in the last quarter. Hedge funds and other institutional investors own 88.50% of the company’s stock.
Banner Corporation (NASDAQ:BANR) traded up 0.225% during mid-day trading on Friday, reaching $55.755. 11,199 shares of the company traded hands. The firm has a market capitalization of $1.86 billion, a P/E ratio of 19.420 and a beta of 1.05. The company’s 50 day moving average price is $56.32 and its 200 day moving average price is $56.05. Banner Corporation has a 12-month low of $42.66 and a 12-month high of $60.97.
Banner Corporation (NASDAQ:BANR) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.78 EPS 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 firm had revenue of $122.18 million during the quarter, compared to analysts’ expectations of $119.46 million. Equities research analysts predict that Banner Corporation will post $3.09 EPS for the current year.
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Several brokerages have recently issued reports on BANR. BidaskClub upgraded shares of Banner Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Zacks Investment Research cut shares of Banner Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $57.00.
In related news, Director Gary Sirmon sold 3,333 shares of the business’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $56.77, for a total transaction of $189,214.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 9,999 shares of company stock valued at $558,911 over the last three months. 1.71% of the stock is currently 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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