Banner Co. (NASDAQ:BANR) Shares Sold by State Street Corp

State Street Corp reduced its holdings in Banner Co. (NASDAQ:BANR) by 0.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,787,741 shares of the financial services provider’s stock after selling 11,971 shares during the quarter. State Street Corp owned 0.05% of Banner worth $106,478,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BANR. Charles Schwab Investment Management Inc. increased its holdings in shares of Banner by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,330,064 shares of the financial services provider’s stock valued at $79,219,000 after purchasing an additional 43,398 shares during the period. Versor Investments LP acquired a new position in Banner during the 3rd quarter valued at about $439,000. Panagora Asset Management Inc. raised its position in shares of Banner by 2.7% during the 2nd quarter. Panagora Asset Management Inc. now owns 203,759 shares of the financial services provider’s stock worth $10,115,000 after buying an additional 5,380 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Banner by 79.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock worth $79,132,000 after acquiring an additional 588,591 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Banner by 2.7% in the second quarter. Bank of New York Mellon Corp now owns 432,402 shares of the financial services provider’s stock valued at $21,464,000 after acquiring an additional 11,278 shares in the last quarter. Institutional investors own 87.33% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. DA Davidson boosted their target price on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Keefe, Bruyette & Woods boosted their price objective on Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler set a $67.00 target price on Banner in a research note on Thursday, October 17th. Finally, Raymond James upped their price target on shares of Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $67.00.

Insiders Place Their Bets

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total transaction of $113,445.00. Following the completion of the sale, the vice president now directly owns 21,868 shares in the company, valued at approximately $1,653,876.84. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.60% of the company’s stock.

Banner Stock Performance

Shares of NASDAQ BANR opened at $71.37 on Monday. Banner Co. has a 52-week low of $42.00 and a 52-week high of $78.05. The stock has a market capitalization of $2.46 billion, a price-to-earnings ratio of 14.93 and a beta of 1.07. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The stock’s fifty day simple moving average is $69.52 and its 200 day simple moving average is $59.60.

Banner (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.12. Banner had a return on equity of 10.22% and a net margin of 20.28%. The firm had revenue of $213.90 million for the quarter, compared to the consensus estimate of $152.95 million. During the same quarter in the previous year, the company earned $1.43 EPS. As a group, sell-side analysts forecast that Banner Co. will post 4.88 earnings per share for the current fiscal year.

Banner Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Tuesday, November 5th. Banner’s dividend payout ratio is 40.17%.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, 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.