Banner Co. (NASDAQ:BANR) Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in shares of Banner Co. (NASDAQ:BANR) by 3.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 103,683 shares of the financial services provider’s stock after selling 4,092 shares during the period. Rhumbline Advisers owned 0.30% of Banner worth $6,923,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. USA Financial Formulas purchased a new position in Banner during the 4th quarter worth $32,000. Financial Life Planners purchased a new stake in shares of Banner in the fourth quarter valued at about $32,000. US Bancorp DE boosted its stake in shares of Banner by 287.1% during the third quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock worth $86,000 after buying an additional 1,065 shares during the period. KBC Group NV grew its holdings in shares of Banner by 46.0% during the fourth quarter. KBC Group NV now owns 1,656 shares of the financial services provider’s stock worth $111,000 after buying an additional 522 shares during the last quarter. Finally, Clear Creek Financial Management LLC acquired a new position in Banner in the 3rd quarter valued at about $209,000. 87.33% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BANR has been the subject of a number of recent research reports. DA Davidson increased their price objective on Banner from $73.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Keefe, Bruyette & Woods upped their price target on Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. Finally, Stephens reiterated an “overweight” rating and issued a $82.00 price objective on shares of Banner in a research report on Thursday, January 23rd. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $74.20.

Banner Stock Performance

Shares of BANR stock opened at $68.22 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $68.47 and a 200-day simple moving average of $65.92. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 13.98 and a beta of 1.09. Banner Co. has a 12-month low of $42.00 and a 12-month high of $78.05.

Banner (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.11. Banner had a return on equity of 10.03% and a net margin of 20.28%. On average, equities analysts forecast that Banner Co. will post 5.23 EPS for the current year.

Banner Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were issued a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.81%. Banner’s dividend payout ratio is presently 39.34%.

Banner 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.