Banner Co. (NASDAQ:BANR) Shares Sold by Rice Hall James & Associates LLC

Rice Hall James & Associates LLC decreased its stake in shares of Banner Co. (NASDAQ:BANR) by 7.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 219,860 shares of the financial services provider’s stock after selling 18,268 shares during the quarter. Rice Hall James & Associates LLC’s holdings in Banner were worth $11,905,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. DDD Partners LLC bought a new position in Banner in the 2nd quarter valued at about $504,000. Municipal Employees Retirement System of Michigan boosted its position in shares of Banner by 23.1% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 11,370 shares of the financial services provider’s stock valued at $615,000 after purchasing an additional 2,130 shares in the last quarter. Mesirow Financial Investment Management Equity Management boosted its position in shares of Banner by 27.1% during the 2nd quarter. Mesirow Financial Investment Management Equity Management now owns 136,980 shares of the financial services provider’s stock valued at $7,417,000 after purchasing an additional 29,205 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Banner by 11.3% during the 2nd quarter. Fisher Asset Management LLC now owns 35,375 shares of the financial services provider’s stock valued at $1,916,000 after purchasing an additional 3,581 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Banner by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 48,489 shares of the financial services provider’s stock valued at $2,626,000 after purchasing an additional 290 shares in the last quarter. 84.94% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on BANR shares. DA Davidson upgraded shares of Banner from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 11th. Zacks Investment Research upgraded shares of Banner from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Tuesday, August 6th. ValuEngine upgraded shares of Banner from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Stephens restated a “hold” rating on shares of Banner in a research report on Thursday, July 25th. Finally, BidaskClub lowered shares of Banner from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $59.75.

Shares of BANR traded up $0.33 during midday trading on Thursday, hitting $53.88. The stock had a trading volume of 2,781 shares, compared to its average volume of 163,797. Banner Co. has a fifty-two week low of $48.50 and a fifty-two week high of $67.11. The stock’s 50-day moving average price is $55.04. The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.81 and a beta of 0.79. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.55.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, July 24th. The financial services provider reported $1.14 EPS for the quarter, topping the consensus estimate of $1.05 by $0.09. Banner had a net margin of 25.14% and a return on equity of 10.43%. The company had revenue of $137.37 million during the quarter, compared to analysts’ expectations of $137.47 million. On average, equities analysts anticipate that Banner Co. will post 4.23 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, July 18th. Shareholders of record on Tuesday, July 9th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Monday, July 8th. Banner’s payout ratio is 40.10%.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank that 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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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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