Envestnet Asset Management Inc. cut its position in shares of Banner Co. (NASDAQ:BANR) by 1.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,422 shares of the financial services provider’s stock after selling 212 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Banner were worth $922,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Oregon Public Employees Retirement Fund boosted its holdings in Banner by 1.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 12,404 shares of the financial services provider’s stock valued at $672,000 after purchasing an additional 200 shares in the last quarter. US Bancorp DE boosted its holdings in Banner by 6.4% during the second quarter. US Bancorp DE now owns 3,642 shares of the financial services provider’s stock valued at $197,000 after purchasing an additional 218 shares in the last quarter. Arizona State Retirement System boosted its holdings in Banner by 0.6% during the second quarter. Arizona State Retirement System now owns 48,489 shares of the financial services provider’s stock valued at $2,626,000 after purchasing an additional 290 shares in the last quarter. Context BH Capital Management LP boosted its holdings in Banner by 0.3% during the second quarter. Context BH Capital Management LP now owns 104,836 shares of the financial services provider’s stock valued at $5,677,000 after purchasing an additional 300 shares in the last quarter. Finally, Prudential Financial Inc. boosted its holdings in Banner by 0.8% during the second quarter. Prudential Financial Inc. now owns 81,341 shares of the financial services provider’s stock valued at $4,405,000 after purchasing an additional 680 shares in the last quarter. 83.63% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms have weighed in on BANR. Raymond James decreased their price objective on Banner from $64.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Zacks Investment Research raised Banner from a “sell” rating to a “hold” rating in a report on Wednesday. Stephens reaffirmed a “hold” rating on shares of Banner in a report on Thursday, July 25th. ValuEngine downgraded Banner from a “hold” rating to a “sell” rating in a report on Friday, October 25th. Finally, BidaskClub downgraded Banner from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $59.33.

Shares of BANR opened at $57.07 on Friday. The company has a market capitalization of $1.92 billion, a P/E ratio of 13.95 and a beta of 0.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.95 and a quick ratio of 0.92. Banner Co. has a one year low of $48.50 and a one year high of $64.20. The business’s 50 day simple moving average is $55.14 and its 200-day simple moving average is $54.38.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, October 23rd. The financial services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.05 by $0.10. The business had revenue of $137.49 million for the quarter, compared to the consensus estimate of $136.12 million. Banner had a return on equity of 10.08% and a net margin of 24.84%. On average, sell-side analysts anticipate that Banner Co. will post 4.31 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 18th. Stockholders of record on Wednesday, October 9th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.87%. The ex-dividend date was Tuesday, October 8th. Banner’s payout ratio is currently 40.10%.

In other news, VP Cynthia D. Purcell sold 2,039 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $54.19, for a total value of $110,493.41. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director John R. Layman sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $55.17, for a total value of $27,585.00. The disclosure for this sale can be found here. Insiders sold a total of 3,039 shares of company stock worth $168,078 over the last three months. 2.51% of the stock is owned by company insiders.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank that provides commercial banking and financial products and services to individuals, businesses, and public sector entities primarily in the United States. It offers deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans.

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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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