Prudential Financial Inc. Sells 16,800 Shares of Banner Co. (NASDAQ:BANR)

Prudential Financial Inc. lowered its position in Banner Co. (NASDAQ:BANR - Free Report) by 27.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 44,185 shares of the financial services provider's stock after selling 16,800 shares during the period. Prudential Financial Inc. owned about 0.13% of Banner worth $2,950,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of BANR. Financial Life Planners bought a new position in shares of Banner in the fourth quarter worth about $32,000. USA Financial Formulas purchased a new position in Banner in the 4th quarter worth approximately $32,000. Smartleaf Asset Management LLC lifted its holdings in Banner by 167.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 705 shares of the financial services provider's stock worth $47,000 after purchasing an additional 441 shares in the last quarter. KBC Group NV boosted its stake in Banner by 46.0% in the 4th quarter. KBC Group NV now owns 1,656 shares of the financial services provider's stock worth $111,000 after purchasing an additional 522 shares during the period. Finally, US Bancorp DE grew its holdings in Banner by 21.8% during the 4th quarter. US Bancorp DE now owns 1,749 shares of the financial services provider's stock valued at $117,000 after buying an additional 313 shares in the last quarter. Hedge funds and other institutional investors own 87.33% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BANR. DA Davidson upped their target price on shares of Banner from $73.00 to $76.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Stephens reiterated an "overweight" rating and issued a $82.00 price target on shares of Banner in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $74.20.

Banner Price Performance

BANR traded up $0.66 during trading hours on Monday, hitting $57.18. The company's stock had a trading volume of 367,868 shares, compared to its average volume of 208,942. Banner Co. has a 12 month low of $42.00 and a 12 month high of $78.05. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. The business's 50-day moving average price is $66.29 and its 200-day moving average price is $67.26. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 11.72 and a beta of 0.94.

Banner (NASDAQ:BANR - Get Free Report) last announced its earnings results 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 net margin of 20.28% and a return on equity of 10.03%. Sell-side analysts expect that Banner Co. will post 5.23 earnings per share for the current fiscal year.

Banner Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date of this dividend was Tuesday, February 4th. Banner's dividend payout ratio (DPR) is 39.34%.

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.