Banner Co. (NASDAQ:BANR) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its holdings in Banner Co. (NASDAQ:BANR - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 354,107 shares of the financial services provider's stock after selling 43,558 shares during the quarter. Bank of New York Mellon Corp owned about 1.03% of Banner worth $23,644,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its position in Banner by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,330,064 shares of the financial services provider's stock worth $79,219,000 after purchasing an additional 43,398 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Banner by 1.5% during the third quarter. Geode Capital Management LLC now owns 823,763 shares of the financial services provider's stock valued at $49,073,000 after buying an additional 11,808 shares during the last quarter. Versor Investments LP acquired a new position in shares of Banner in the 3rd quarter valued at $439,000. JPMorgan Chase & Co. raised its stake in Banner by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 409,885 shares of the financial services provider's stock worth $24,413,000 after acquiring an additional 29,174 shares during the last quarter. Finally, Wellington Management Group LLP lifted its position in Banner by 12.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider's stock worth $106,334,000 after acquiring an additional 193,434 shares during the period. Institutional investors and hedge funds own 87.33% of the company's stock.

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Banner Stock Performance

Shares of BANR traded down $0.65 during trading hours on Thursday, hitting $62.17. The stock had a trading volume of 138,955 shares, compared to its average volume of 222,134. The firm has a 50-day moving average price of $68.21 and a 200 day moving average price of $66.60. Banner Co. has a fifty-two week low of $42.00 and a fifty-two week high of $78.05. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 12.74 and a beta of 1.07. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.86.

Banner (NASDAQ:BANR - Get Free Report) last posted its earnings results 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 net margin of 20.28% and a return on equity of 10.03%. As a group, research analysts anticipate 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. Investors of record on Tuesday, February 4th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $1.92 annualized dividend and a dividend yield of 3.09%. Banner's dividend payout ratio (DPR) is presently 39.34%.

Wall Street Analysts Forecast Growth

BANR has been the subject of a number of research reports. Keefe, Bruyette & Woods lifted their target price on Banner from $69.00 to $81.00 and gave the stock a "market perform" rating in a report on Wednesday, December 4th. DA Davidson lifted their price objective on shares of Banner from $73.00 to $76.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. Finally, Stephens reaffirmed an "overweight" rating and issued a $82.00 price objective on shares of Banner in a 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.com, the company has a consensus rating of "Hold" and an average price target of $74.20.

About Banner

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.