Banner Co. (NASDAQ:BANR) Shares Sold by Jane Street Group LLC

Jane Street Group LLC reduced its stake in shares of Banner Co. (NASDAQ:BANR - Free Report) by 20.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,817 shares of the financial services provider's stock after selling 8,070 shares during the period. Jane Street Group LLC owned 0.09% of Banner worth $1,835,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its stake in shares of Banner by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the financial services provider's stock worth $859,000 after purchasing an additional 300 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Banner by 2.7% during the second quarter. Bank of New York Mellon Corp now owns 432,402 shares of the financial services provider's stock valued at $21,464,000 after acquiring an additional 11,278 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Banner by 4.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 144,809 shares of the financial services provider's stock valued at $7,188,000 after acquiring an additional 6,159 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Banner by 38.3% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,608 shares of the financial services provider's stock valued at $328,000 after purchasing an additional 1,830 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in Banner by 2.7% in the 2nd quarter. Panagora Asset Management Inc. now owns 203,759 shares of the financial services provider's stock worth $10,115,000 after purchasing an additional 5,380 shares in the last quarter. Institutional investors own 87.33% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on BANR shares. Keefe, Bruyette & Woods increased their price objective on shares of Banner from $69.00 to $81.00 and gave the company a "market perform" rating in a report on Wednesday, December 4th. Raymond James increased their price objective on shares of Banner from $62.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, October 2nd. DA Davidson lifted their target price on Banner from $60.00 to $69.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Finally, Piper Sandler set a $67.00 price target on Banner in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $67.00.

Banner Trading Up 0.8 %

Shares of NASDAQ:BANR traded up $0.57 during trading hours on Thursday, hitting $68.14. 122,016 shares of the company's stock traded hands, compared to its average volume of 201,451. The firm has a market capitalization of $2.35 billion, a P/E ratio of 14.26 and a beta of 1.07. The business has a fifty day moving average price of $70.38 and a 200-day moving average price of $60.74. Banner Co. has a 1 year low of $42.00 and a 1 year high of $78.05. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84.

Banner (NASDAQ:BANR - Get Free Report) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, topping analysts' consensus estimates of $1.18 by $0.12. The business had revenue of $213.90 million for the quarter, compared to analyst estimates of $152.95 million. Banner had a return on equity of 10.22% and a net margin of 20.28%. During the same quarter last year, the firm posted $1.43 earnings per share. Equities analysts expect that Banner Co. will post 4.88 earnings per share for the current year.

Banner Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.82%. Banner's payout ratio is 40.17%.

Insiders Place Their Bets

In related news, VP James P.G. Mclean sold 1,500 shares of the company's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total transaction of $113,445.00. Following the completion of the sale, the vice president now directly owns 21,868 shares in the company, valued at $1,653,876.84. This represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. 1.60% of the stock is currently owned by company insiders.

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.