Bank of New York Mellon Corp Lowers Holdings in Banner Co. (NASDAQ:BANR)

Bank of New York Mellon Corp trimmed its holdings in Banner Co. (NASDAQ:BANR) by 11.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 354,107 shares of the financial services provider’s stock after selling 43,558 shares during the period. Bank of New York Mellon Corp owned approximately 1.03% of Banner worth $23,644,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in BANR. Victory Capital Management Inc. grew its position in Banner by 79.5% in the third 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. Wellington Management Group LLP boosted its position in shares of Banner by 12.2% during 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 buying an additional 193,434 shares during the period. FMR LLC boosted its position in shares of Banner by 395.4% during the third quarter. FMR LLC now owns 166,120 shares of the financial services provider’s stock worth $9,894,000 after buying an additional 132,586 shares during the period. Eagle Asset Management Inc. purchased a new position in shares of Banner during the third quarter worth $6,477,000. Finally, Charles Schwab Investment Management Inc. boosted its position 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 worth $79,219,000 after buying an additional 43,398 shares during the period. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Banner Stock Down 0.1 %

Shares of NASDAQ BANR opened at $63.92 on Monday. The stock has a market cap of $2.20 billion, a P/E ratio of 13.10 and a beta of 1.07. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. Banner Co. has a 12-month low of $42.00 and a 12-month high of $78.05. The business’s fifty day simple moving average is $68.45 and its 200-day simple moving average is $66.56.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating 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%. As a group, equities analysts predict that Banner Co. will post 5.23 EPS for the current fiscal year.

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.00%. The ex-dividend date of this dividend was Tuesday, February 4th. Banner’s dividend payout ratio is presently 39.34%.

Analyst Ratings Changes

Several research analysts have recently commented on BANR shares. DA Davidson raised their price target 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 raised their price target on Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Stephens restated an “overweight” rating and set a $82.00 price target on shares of Banner in a research report on Thursday, January 23rd. 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’s stock. According to MarketBeat, Banner currently has a consensus rating of “Hold” and a consensus price target of $74.20.

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.