Foundry Partners LLC Lowers Stake in Banner Corporation (BANR)
Foundry Partners LLC lowered its stake in shares of Banner Corporation (NASDAQ:BANR) by 23.8% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 10,249 shares of the financial services provider’s stock after selling 3,200 shares during the quarter. Foundry Partners LLC’s holdings in Banner Corporation were worth $628,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. New York State Teachers Retirement System raised its position in shares of Banner Corporation by 18.9% during the 3rd quarter. New York State Teachers Retirement System now owns 15,723 shares of the financial services provider’s stock valued at $964,000 after buying an additional 2,500 shares in the last quarter. Crossmark Global Holdings Inc. purchased a new position in Banner Corporation in the 3rd quarter worth $391,000. Aperio Group LLC raised its position in Banner Corporation by 26.6% in the 3rd quarter. Aperio Group LLC now owns 9,255 shares of the financial services provider’s stock worth $567,000 after purchasing an additional 1,947 shares during the period. Merriman Wealth Management LLC purchased a new position in Banner Corporation in the 3rd quarter worth $3,249,000. Finally, Meeder Asset Management Inc. raised its position in Banner Corporation by 283.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 3,739 shares of the financial services provider’s stock worth $229,000 after purchasing an additional 2,763 shares during the period. Hedge funds and other institutional investors own 88.34% of the company’s stock.
Banner Corporation (NASDAQ BANR) opened at $55.76 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.27. Banner Corporation has a 52 week low of $44.52 and a 52 week high of $62.75. The stock has a market cap of $1,876.86, a P/E ratio of 19.20, a PEG ratio of 2.03 and a beta of 1.07.
Banner Corporation (NASDAQ:BANR) last announced its earnings results on Wednesday, October 25th. The financial services provider reported $0.76 EPS for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.01). Banner Corporation had a net margin of 19.70% and a return on equity of 7.52%. The business had revenue of $120.55 million for the quarter, compared to analysts’ expectations of $123.58 million. research analysts forecast that Banner Corporation will post 3.13 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, October 18th. Shareholders of record on Tuesday, October 10th were given a $0.25 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.79%. Banner Corporation’s payout ratio is currently 34.01%.
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In related news, VP Cynthia D. Purcell sold 1,007 shares of the firm’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 filing with the SEC, which is accessible through this link. Also, Director Gary Sirmon sold 3,333 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $55.46, for a total transaction of $184,848.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,925 shares of company stock valued at $446,739. 1.71% of the stock is owned by company insiders.
A number of equities analysts recently commented on the stock. Zacks Investment Research cut shares of Banner Corporation from a “hold” rating to a “sell” rating in a research report on Monday, October 30th. Piper Jaffray Companies reiterated a “neutral” rating on shares of Banner Corporation in a research report on Friday, October 27th. DA Davidson cut shares of Banner Corporation from a “buy” rating to a “neutral” rating in a research report on Thursday, October 26th. ValuEngine cut shares of Banner Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Finally, Stephens assumed coverage on shares of Banner Corporation in a research report on Wednesday, September 13th. They issued an “equal weight” rating and a $60.00 price objective on the stock. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $60.67.
Banner Corporation 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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