California Public Employees Retirement System raised its position in Banner Co. (NASDAQ:BANR) by 9.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,211 shares of the financial services provider’s stock after buying an additional 5,311 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Banner worth $3,628,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Tudor Investment Corp ET AL raised its stake in shares of Banner by 1.8% in the second quarter. Tudor Investment Corp ET AL now owns 7,556 shares of the financial services provider’s stock valued at $427,000 after buying an additional 134 shares during the period. Pinebridge Investments L.P. raised its stake in shares of Banner by 1.4% in the second quarter. Pinebridge Investments L.P. now owns 17,384 shares of the financial services provider’s stock valued at $982,000 after buying an additional 237 shares during the period. Ameritas Investment Partners Inc. raised its stake in shares of Banner by 11.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,893 shares of the financial services provider’s stock valued at $163,000 after buying an additional 300 shares during the period. Amalgamated Bank raised its stake in shares of Banner by 10.2% in the second quarter. Amalgamated Bank now owns 4,441 shares of the financial services provider’s stock valued at $251,000 after buying an additional 412 shares during the period. Finally, Virtu KCG Holdings LLC raised its stake in shares of Banner by 13.5% in the second quarter. Virtu KCG Holdings LLC now owns 4,245 shares of the financial services provider’s stock valued at $240,000 after buying an additional 505 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.
Banner Co. (NASDAQ BANR) opened at $58.43 on Friday. The firm has a market capitalization of $1,891.95, a price-to-earnings ratio of 19.35, a PEG ratio of 1.89 and a beta of 1.07. Banner Co. has a 52-week low of $51.61 and a 52-week high of $62.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.94 and a quick ratio of 0.93.
Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.76 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.01). The company had revenue of $120.55 million during the quarter, compared to analysts’ expectations of $123.58 million. Banner had a net margin of 19.70% and a return on equity of 7.52%. analysts anticipate that Banner Co. will post 3.05 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Tuesday, January 9th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, January 8th. Banner’s dividend payout ratio (DPR) is presently 34.01%.
Several brokerages have recently weighed in on BANR. Zacks Investment Research upgraded Banner from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Friday. ValuEngine cut Banner from a “buy” rating to a “hold” rating in a research report on Saturday, November 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $60.00 price target on shares of Banner in a research report on Friday, December 22nd. Piper Jaffray Companies reiterated a “neutral” rating on shares of Banner in a research report on Friday, October 27th. Finally, BidaskClub cut Banner from a “buy” rating to a “hold” rating in a research report on Tuesday, December 12th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $61.00.
Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.
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