AlphaOne Investment Services LLC increased its holdings in shares of Banner Corporation (NASDAQ:BANR) by 7.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 78,745 shares of the financial services provider’s stock after buying an additional 5,210 shares during the quarter. Banner Corporation accounts for about 1.2% of AlphaOne Investment Services LLC’s portfolio, making the stock its 25th largest position. AlphaOne Investment Services LLC owned approximately 0.24% of Banner Corporation worth $4,450,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Stifel Financial Corp grew its stake in Banner Corporation by 21.3% during the 1st quarter. Stifel Financial Corp now owns 63,242 shares of the financial services provider’s stock worth $3,521,000 after buying an additional 11,100 shares during the last quarter. CIBC Asset Management Inc purchased a new position in Banner Corporation during the 2nd quarter worth $201,000. State Street Corp grew its stake in Banner Corporation by 1.8% during the 1st quarter. State Street Corp now owns 988,859 shares of the financial services provider’s stock worth $55,021,000 after buying an additional 17,021 shares during the last quarter. Principal Financial Group Inc. grew its stake in Banner Corporation by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 202,923 shares of the financial services provider’s stock worth $11,291,000 after buying an additional 5,106 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its stake in Banner Corporation by 42.7% during the 1st quarter. Nuveen Asset Management LLC now owns 555,726 shares of the financial services provider’s stock worth $30,921,000 after buying an additional 166,373 shares during the last quarter. Hedge funds and other institutional investors own 88.45% of the company’s stock.
Several research analysts recently weighed in on BANR shares. BidaskClub downgraded Banner Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. ValuEngine upgraded Banner Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Zacks Investment Research downgraded Banner Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Stephens started coverage on Banner Corporation in a research note on Wednesday, September 13th. They set an “equal weight” rating and a $60.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $57.75.
Shares of Banner Corporation (NASDAQ:BANR) traded up 0.56% during mid-day trading on Wednesday, hitting $57.79. The stock had a trading volume of 13,317 shares. Banner Corporation has a 52-week low of $42.93 and a 52-week high of $60.97. The firm has a market cap of $1.92 billion, a PE ratio of 20.13 and a beta of 1.05. The firm has a 50 day moving average price of $55.85 and a 200 day moving average price of $55.72.
Banner Corporation (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. Banner Corporation had a return on equity of 7.50% and a net margin of 19.63%. The firm had revenue of $122.18 million for the quarter, compared to analyst estimates of $119.46 million. Equities analysts predict that Banner Corporation will post $3.10 EPS for the current year.
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In other Banner Corporation news, VP Cynthia D. Purcell sold 1,007 shares of Banner Corporation stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $55.61, for a total value of $55,999.27. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gary Sirmon sold 3,335 shares of Banner Corporation stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $57.49, for a total value of $191,729.15. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,258 shares of company stock worth $631,587. Corporate insiders own 1.71% of the company’s stock.
Banner Corporation Profile
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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