State Street Corp Sells 11,971 Shares of Banner Co. (NASDAQ:BANR)

State Street Corp lessened its position in shares of Banner Co. (NASDAQ:BANR - Free Report) by 0.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,787,741 shares of the financial services provider's stock after selling 11,971 shares during the period. State Street Corp owned about 5.19% of Banner worth $106,478,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Systematic Financial Management LP bought a new position in shares of Banner during the 3rd quarter worth approximately $554,000. Captrust Financial Advisors grew its position in Banner by 3.0% in the third quarter. Captrust Financial Advisors now owns 5,443 shares of the financial services provider's stock valued at $324,000 after purchasing an additional 160 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Banner by 13.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,527 shares of the financial services provider's stock valued at $448,000 after purchasing an additional 919 shares in the last quarter. BNP Paribas Financial Markets increased its stake in Banner by 30.5% in the 3rd quarter. BNP Paribas Financial Markets now owns 14,013 shares of the financial services provider's stock valued at $835,000 after buying an additional 3,275 shares during the last quarter. Finally, FMR LLC lifted its position in Banner by 395.4% during the 3rd quarter. FMR LLC now owns 166,120 shares of the financial services provider's stock worth $9,894,000 after buying an additional 132,586 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company's stock.

Banner Stock Performance

Shares of BANR traded up $0.52 during mid-day trading on Monday, reaching $71.89. The company's stock had a trading volume of 237,900 shares, compared to its average volume of 199,076. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. Banner Co. has a 1-year low of $42.00 and a 1-year high of $78.05. The business has a 50-day simple moving average of $69.78 and a two-hundred day simple moving average of $59.78. The stock has a market cap of $2.48 billion, a P/E ratio of 15.04 and a beta of 1.07.

Banner (NASDAQ:BANR - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.18 by $0.12. Banner had a return on equity of 10.22% and a net margin of 20.28%. The business had revenue of $213.90 million for the quarter, compared to analysts' expectations of $152.95 million. During the same quarter in the prior year, the business earned $1.43 EPS. As a group, equities research analysts anticipate that Banner Co. will post 4.88 earnings per share for the current fiscal year.

Banner Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.67%. The ex-dividend date of this dividend was Tuesday, November 5th. Banner's payout ratio is 40.17%.

Analyst Ratings Changes

A number of analysts recently issued reports on BANR shares. Keefe, Bruyette & Woods lifted their target price on Banner from $69.00 to $81.00 and gave the company a "market perform" rating in a research report on Wednesday, December 4th. Raymond James boosted their price target on Banner from $62.00 to $65.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 2nd. Piper Sandler set a $67.00 price objective on Banner in a research note on Thursday, October 17th. Finally, DA Davidson raised their target price on shares of Banner from $60.00 to $69.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. 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. According to MarketBeat.com, Banner presently has an average rating of "Hold" and a consensus price target of $67.00.

Insider Activity at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction that occurred 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 of the company's stock, valued at approximately $1,653,876.84. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.60% of the stock is owned by company insiders.

Banner Profile

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.