Dean Capital Management reduced its stake in shares of Banner Co. (NASDAQ:BANR) by 38.6% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 35,210 shares of the financial services provider’s stock after selling 22,175 shares during the period. Dean Capital Management owned approximately 0.11% of Banner worth $1,941,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Millennium Management LLC lifted its holdings in shares of Banner by 242.3% during the 4th quarter. Millennium Management LLC now owns 462,513 shares of the financial services provider’s stock worth $25,494,000 after acquiring an additional 327,377 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Banner by 18.3% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 9,700 shares of the financial services provider’s stock worth $535,000 after acquiring an additional 1,500 shares during the last quarter. HBK Investments L P lifted its holdings in shares of Banner by 24.7% during the 4th quarter. HBK Investments L P now owns 18,200 shares of the financial services provider’s stock worth $1,003,000 after acquiring an additional 3,600 shares during the last quarter. Endeavour Capital Advisors Inc. bought a new stake in shares of Banner during the 4th quarter worth $807,000. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Banner by 0.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,571,088 shares of the financial services provider’s stock worth $86,599,000 after acquiring an additional 9,312 shares during the last quarter. 92.08% of the stock is owned by institutional investors.
In other Banner news, VP Kenneth A. Larsen sold 884 shares of the business’s stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $57.53, for a total value of $50,856.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Cynthia D. Purcell sold 841 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $54.67, for a total transaction of $45,977.47. The disclosure for this sale can be found here. Insiders sold 2,137 shares of company stock worth $120,590 in the last 90 days. Corporate insiders own 1.71% of the company’s stock.
A number of research firms have recently issued reports on BANR. Zacks Investment Research raised shares of Banner from a “sell” rating to a “hold” rating in a report on Tuesday. BidaskClub downgraded shares of Banner from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Sandler O’Neill reiterated a “buy” rating on shares of Banner in a research report on Friday, January 26th. Piper Jaffray reiterated a “hold” rating and issued a $58.00 target price on shares of Banner in a research report on Friday, February 2nd. Finally, Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $60.00 target price on shares of Banner in a research report on Friday, December 22nd. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Banner presently has an average rating of “Hold” and a consensus price target of $60.25.
NASDAQ:BANR traded down $1.63 during trading hours on Friday, reaching $54.91. The company’s stock had a trading volume of 180,420 shares, compared to its average volume of 240,014. The stock has a market cap of $1,844.61, a PE ratio of 18.36, a PEG ratio of 1.66 and a beta of 0.96. Banner Co. has a 1 year low of $52.07 and a 1 year high of $62.75. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.15.
Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, January 24th. The financial services provider reported $0.71 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.08). The business 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 anticipate that Banner Co. will post 3.41 EPS for the current year.
Banner declared that its board has initiated a share repurchase plan on Wednesday, March 28th that permits the company to repurchase 1,620,000 outstanding shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 19th. Shareholders of record on Tuesday, April 10th will be given a $0.35 dividend. This is a boost from Banner’s previous quarterly dividend of $0.25. The ex-dividend date is Monday, April 9th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.55%. Banner’s payout ratio is presently 33.44%.
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Banner Company Profile
Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank, which provides commercial banking and financial products and services to individuals, businesses, and public sector entities primarily in the United States. It offers deposit products, 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.
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