Texas Permanent School Fund reduced its holdings in shares of Banner Co. (NASDAQ:BANR) by 8.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,176 shares of the financial services provider’s stock after selling 2,056 shares during the period. Texas Permanent School Fund’s holdings in Banner were worth $1,222,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Ameritas Investment Partners Inc. lifted its position in Banner by 11.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,893 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 300 shares during the period. Virtu KCG Holdings LLC lifted its position in Banner by 13.5% during the 2nd quarter. Virtu KCG Holdings LLC now owns 4,245 shares of the financial services provider’s stock valued at $240,000 after acquiring an additional 505 shares during the period. New York State Common Retirement Fund lifted its position in Banner by 1.0% during the 3rd quarter. New York State Common Retirement Fund now owns 95,317 shares of the financial services provider’s stock valued at $5,841,000 after acquiring an additional 951 shares during the period. Cortina Asset Management LLC lifted its position in Banner by 0.9% during the 3rd quarter. Cortina Asset Management LLC now owns 127,539 shares of the financial services provider’s stock valued at $7,816,000 after acquiring an additional 1,107 shares during the period. Finally, D.A. Davidson & CO. lifted its position in Banner by 13.4% during the 3rd quarter. D.A. Davidson & CO. now owns 9,457 shares of the financial services provider’s stock valued at $579,000 after acquiring an additional 1,118 shares during the period. 91.46% of the stock is owned by institutional investors.

Banner Co. (BANR) opened at $53.05 on Tuesday. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1,741.05, a PE ratio of 28.83, a price-to-earnings-growth ratio of 1.53 and a beta of 1.06. Banner Co. has a twelve month low of $51.61 and a twelve month high of $62.75.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.08). The firm had revenue of $128.15 million during the quarter, compared to analysts’ expectations of $126.56 million. Banner had a return on equity of 7.55% and a net margin of 12.02%. sell-side analysts predict that Banner Co. will post 3.48 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 18th. Stockholders of record on Tuesday, January 9th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, January 8th. This represents a $1.00 annualized dividend and a dividend yield of 1.89%. Banner’s payout ratio is 54.35%.

In other news, VP Cynthia D. Purcell sold 841 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $54.67, for a total transaction of $45,977.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.71% of the stock is owned by insiders.

Several brokerages have issued reports on BANR. BidaskClub raised shares of Banner from a “sell” rating to a “hold” rating in a report on Monday, February 5th. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $58.00 target price on shares of Banner in a report on Friday, February 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 target price on shares of Banner in a report on Friday, January 26th. Sandler O’Neill reaffirmed a “buy” rating on shares of Banner in a report on Friday, January 26th. Finally, Zacks Investment Research raised shares of Banner from a “hold” rating to a “buy” rating and set a $65.00 target price for the company in a report on Friday, January 12th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $60.25.

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Banner Profile

Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.

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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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