Jane Street Group LLC Reduces Holdings in Banner Co. (NASDAQ:BANR)

Jane Street Group LLC lowered its position in Banner Co. (NASDAQ:BANR) by 20.8% during the 3rd quarter, HoldingsChannel reports. The fund owned 30,817 shares of the financial services provider’s stock after selling 8,070 shares during the period. Jane Street Group LLC’s holdings in Banner were worth $1,835,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its stake in Banner by 12.2% in the third quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock worth $106,334,000 after purchasing an additional 193,434 shares during the last quarter. Systematic Financial Management LP purchased a new stake in shares of Banner in the third quarter worth approximately $554,000. Captrust Financial Advisors lifted its stake in shares of Banner by 3.0% during the 3rd quarter. Captrust Financial Advisors now owns 5,443 shares of the financial services provider’s stock worth $324,000 after acquiring an additional 160 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Banner by 13.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the financial services provider’s stock valued at $448,000 after acquiring an additional 919 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Banner by 30.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,013 shares of the financial services provider’s stock valued at $835,000 after acquiring an additional 3,275 shares during the last quarter. Institutional investors own 87.33% of the company’s stock.

Insider Buying and Selling at Banner

In other Banner news, VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total value of $113,445.00. Following the transaction, the vice president now directly owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. The trade was a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is owned by insiders.

Banner Stock Up 1.7 %

Shares of Banner stock opened at $67.57 on Thursday. Banner Co. has a 1 year low of $42.00 and a 1 year high of $78.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 14.14 and a beta of 1.07. The firm’s 50-day moving average is $70.37 and its two-hundred day moving average is $60.69.

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

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date was Tuesday, November 5th. Banner’s payout ratio is currently 40.17%.

Analyst Ratings Changes

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

Banner Company Profile

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.