SG Americas Securities LLC Buys New Position in Banner Co. (NASDAQ:BANR)

SG Americas Securities LLC bought a new position in shares of Banner Co. (NASDAQ:BANR) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 3,439 shares of the financial services provider’s stock, valued at approximately $186,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Public Employees Retirement System of Ohio grew its holdings in shares of Banner by 47.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 563 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 182 shares in the last quarter. Texas Permanent School Fund boosted its stake in Banner by 1.4% during the fourth quarter. Texas Permanent School Fund now owns 20,622 shares of the financial services provider’s stock worth $1,103,000 after buying an additional 281 shares during the period. Bailard Inc. boosted its stake in Banner by 4.5% during the first quarter. Bailard Inc. now owns 9,330 shares of the financial services provider’s stock worth $505,000 after buying an additional 400 shares during the period. Enlightenment Research LLC purchased a new position in Banner during the fourth quarter worth $27,000. Finally, Huntington National Bank boosted its stake in Banner by 1,669.4% during the first quarter. Huntington National Bank now owns 637 shares of the financial services provider’s stock worth $35,000 after buying an additional 601 shares during the period. Institutional investors own 83.95% of the company’s stock.

In related news, VP Steven W. Rust sold 491 shares of the company’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $53.39, for a total value of $26,214.49. The sale was disclosed in a document filed with the SEC, which is available at this link. 2.51% of the stock is owned by corporate insiders.

Several analysts have recently weighed in on BANR shares. Zacks Investment Research downgraded Banner from a “buy” rating to a “hold” rating in a research report on Tuesday, March 26th. ValuEngine downgraded Banner from a “hold” rating to a “sell” rating in a research report on Thursday, March 21st. Raymond James set a $62.00 price objective on Banner and gave the company a “buy” rating in a report on Thursday, April 4th. Finally, BidaskClub downgraded Banner from a “sell” rating to a “strong sell” rating in a report on Friday, March 22nd. Six analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $61.50.

Banner stock traded up $0.81 during trading hours on Friday, reaching $54.15. The stock had a trading volume of 128,010 shares, compared to its average volume of 189,849. Banner Co. has a 52 week low of $48.50 and a 52 week high of $67.11. The company has a market capitalization of $1.84 billion, a P/E ratio of 13.24, a price-to-earnings-growth ratio of 1.82 and a beta of 0.76. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average of $52.72.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.99 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.07). Banner had a return on equity of 10.39% and a net margin of 24.74%. The business had revenue of $134.23 million for the quarter, compared to analysts’ expectations of $139.04 million. On average, equities analysts anticipate that Banner Co. will post 4.12 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 18th. Investors of record on Tuesday, July 9th will be given a $0.41 dividend. The ex-dividend date is Monday, July 8th. This represents a $1.64 dividend on an annualized basis and a yield of 3.03%. Banner’s dividend payout ratio is currently 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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