Public Sector Pension investment Board trimmed its stake in shares of Banner Corporation (NASDAQ:BANR) by 28.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,519 shares of the financial services provider’s stock after selling 5,300 shares during the quarter. Public Sector Pension investment Board’s holdings in Banner Corporation were worth $764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. D.A. Davidson & CO. increased its holdings in Banner Corporation by 174.4% in the second quarter. D.A. Davidson & CO. now owns 8,339 shares of the financial services provider’s stock worth $471,000 after purchasing an additional 5,300 shares in the last quarter. Citigroup Inc. increased its holdings in Banner Corporation by 9.6% in the second quarter. Citigroup Inc. now owns 25,364 shares of the financial services provider’s stock worth $1,433,000 after purchasing an additional 2,213 shares in the last quarter. Pinebridge Investments L.P. increased its holdings in Banner Corporation by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 17,384 shares of the financial services provider’s stock worth $982,000 after purchasing an additional 237 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Banner Corporation in the second quarter worth approximately $266,000. Finally, UBS Asset Management Americas Inc. increased its holdings in Banner Corporation by 46.0% in the second quarter. UBS Asset Management Americas Inc. now owns 27,328 shares of the financial services provider’s stock worth $1,544,000 after purchasing an additional 8,612 shares in the last quarter. Institutional investors own 88.45% of the company’s stock.

BANR has been the subject of a number of research analyst reports. BidaskClub downgraded Banner Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. 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. Stephens initiated coverage on Banner Corporation in a report on Wednesday, September 13th. They issued an “equal weight” rating and a $60.00 target price for the company. Finally, ValuEngine upgraded Banner Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 15th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $57.75.

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Shares of Banner Corporation (BANR) opened at 61.65 on Friday. Banner Corporation has a one year low of $43.22 and a one year high of $61.96. The firm has a 50-day moving average price of $57.09 and a 200-day moving average price of $55.91. The company has a market capitalization of $2.05 billion, a P/E ratio of 21.47 and a beta of 1.04.

Banner Corporation (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.78 earnings per share for the quarter, topping the 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. Equities analysts forecast that Banner Corporation will post $3.13 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.62%. The ex-dividend date is Friday, October 6th. Banner Corporation’s dividend payout ratio (DPR) is currently 34.72%.

In other Banner Corporation news, Director Gary Sirmon sold 3,335 shares of the stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $57.49, for a total value of $191,729.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Cynthia D. Purcell sold 1,007 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $55.61, for a total value of $55,999.27. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,258 shares of company stock valued at $631,587. Company insiders own 1.71% of the company’s stock.

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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Institutional Ownership by Quarter for Banner Corporation (NASDAQ:BANR)

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