Sippican Capital Advisors trimmed its holdings in shares of Banner Co. (NASDAQ:BANR) by 1.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,735 shares of the financial services provider’s stock after selling 205 shares during the period. Sippican Capital Advisors’ holdings in Banner were worth $690,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of BANR. Enlightenment Research LLC purchased a new position in Banner in the 4th quarter valued at approximately $27,000. Public Employees Retirement System of Ohio grew its holdings in Banner by 47.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 563 shares of the financial services provider’s stock valued at $30,000 after buying an additional 182 shares during the last quarter. Huntington National Bank grew its holdings in Banner by 1,669.4% during the 1st quarter. Huntington National Bank now owns 637 shares of the financial services provider’s stock valued at $35,000 after buying an additional 601 shares during the last quarter. Quantamental Technologies LLC acquired a new stake in Banner during the 4th quarter valued at $54,000. Finally, Meeder Asset Management Inc. grew its holdings in Banner by 357.6% during the 4th quarter. Meeder Asset Management Inc. now owns 2,128 shares of the financial services provider’s stock valued at $114,000 after buying an additional 1,663 shares during the last quarter. 83.75% of the stock is owned by institutional investors and hedge funds.
In related news, Director Cheryl R. Bishop sold 11,943 shares of Banner stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $63.62, for a total value of $759,813.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.51% of the stock is currently owned by company insiders.
BANR has been the topic of several analyst reports. Stephens restated a “hold” rating and set a $56.00 price objective on shares of Banner in a report on Wednesday, December 19th. BidaskClub upgraded Banner from a “sell” rating to a “hold” rating in a report on Tuesday, December 25th. ValuEngine upgraded Banner from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. Finally, Zacks Investment Research cut Banner from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 15th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $61.83.
Banner stock traded down $0.41 during midday trading on Wednesday, reaching $55.69. The stock had a trading volume of 843 shares, compared to its average volume of 160,241. Banner Co. has a twelve month low of $48.50 and a twelve month high of $67.11. The stock has a market capitalization of $1.97 billion, a P/E ratio of 13.61, a PEG ratio of 1.83 and a beta of 0.77. The company has a current ratio of 0.95, a quick ratio of 0.93 and a debt-to-equity ratio of 0.52.
Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, January 23rd. The financial services provider reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.05. Banner had a return on equity of 10.43% and a net margin of 24.90%. The firm had revenue of $139.16 million for the quarter, compared to analysts’ expectations of $134.25 million. As a group, sell-side analysts predict that Banner Co. will post 4.3 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Tuesday, April 9th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, April 8th. This represents a $1.64 dividend on an annualized basis and a yield of 2.94%. This is a boost from Banner’s previous quarterly dividend of $0.38. Banner’s dividend payout ratio (DPR) is presently 40.10%.
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Banner Company Profile
Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank, which 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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