Legal & General Group Plc raised its position in Banner Co. (NASDAQ:BANR) by 7.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 74,872 shares of the financial services provider’s stock after acquiring an additional 5,009 shares during the quarter. Legal & General Group Plc owned approximately 0.23% of Banner worth $4,659,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in BANR. C M Bidwell & Associates Ltd. purchased a new position in shares of Banner in the third quarter valued at about $186,000. Wakefield Asset Management LLLP purchased a new position in shares of Banner in the third quarter valued at about $247,000. GSA Capital Partners LLP purchased a new position in shares of Banner in the third quarter valued at about $277,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Banner by 12.8% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,718 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 876 shares during the period. Finally, Paloma Partners Management Co purchased a new position in shares of Banner in the third quarter valued at about $519,000. Hedge funds and other institutional investors own 90.90% of the company’s stock.
In related news, Director John R. Layman sold 1,000 shares of the business’s stock in a transaction dated Friday, December 7th. The shares were sold at an average price of $57.65, for a total transaction of $57,650.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Peter Conner sold 580 shares of the business’s stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $60.32, for a total transaction of $34,985.60. Following the sale, the vice president now directly owns 24,222 shares in the company, valued at approximately $1,461,071.04. The disclosure for this sale can be found here. Insiders have sold 3,160 shares of company stock worth $184,076 in the last quarter. 1.76% of the stock is owned by corporate insiders.
Shares of NASDAQ BANR opened at $53.35 on Monday. Banner Co. has a 1 year low of $48.50 and a 1 year high of $67.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.92 and a current ratio of 0.93. The stock has a market cap of $1.69 billion, a P/E ratio of 17.84, a P/E/G ratio of 1.74 and a beta of 0.93.
Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.25. Banner had a net margin of 16.08% and a return on equity of 9.74%. The company had revenue of $129.49 million for the quarter, compared to analysts’ expectations of $125.29 million. As a group, equities analysts predict that Banner Co. will post 4 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, January 18th. Investors of record on Wednesday, January 9th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.85%. The ex-dividend date is Tuesday, January 8th. Banner’s dividend payout ratio is currently 50.84%.
A number of equities analysts have issued reports on BANR shares. ValuEngine cut shares of Banner from a “hold” rating to a “sell” rating in a research report on Wednesday, October 24th. FIG Partners upgraded shares of Banner from a “market perform” rating to an “outperform” rating in a research report on Friday, October 26th. BidaskClub cut shares of Banner from a “sell” rating to a “strong sell” rating in a research report on Wednesday, October 24th. Piper Jaffray Companies set a $62.00 price target on shares of Banner and gave the company a “hold” rating in a research report on Wednesday, October 31st. Finally, Stephens reiterated a “hold” rating and set a $56.00 price target on shares of Banner in a research report on Wednesday, December 19th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Banner currently has an average rating of “Hold” and an average target price of $63.60.
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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.
See Also: Treasury Bonds
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