BlackRock Institutional Trust Company N.A. increased its position in shares of Banner Corporation (NASDAQ:BANR) by 41.8% during the third quarter, Holdings Channel reports. The firm owned 898,975 shares of the financial services provider’s stock after buying an additional 265,024 shares during the period. BlackRock Institutional Trust Company N.A. owned 2.65% of Banner Corporation worth $39,321,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in the stock. PineBridge Investments L.P. raised its position in shares of Banner Corporation by 4.8% in the second quarter. PineBridge Investments L.P. now owns 2,606 shares of the financial services provider’s stock worth $111,000 after buying an additional 120 shares during the period. Mason Street Advisors LLC bought a new position in shares of Banner Corporation during the second quarter worth $171,000. Aperio Group LLC raised its position in shares of Banner Corporation by 1.8% in the third quarter. Aperio Group LLC now owns 4,985 shares of the financial services provider’s stock worth $218,000 after buying an additional 86 shares during the period. Baker Boyer National Bank bought a new position in shares of Banner Corporation during the third quarter worth $225,000. Finally, Trexquant Investment LP bought a new position in shares of Banner Corporation during the second quarter worth $314,000. Institutional investors own 79.93% of the company’s stock.
Banner Corporation (NASDAQ:BANR) traded down 0.43% during midday trading on Friday, reaching $57.42. 277,852 shares of the company traded hands. Banner Corporation has a 12 month low of $35.39 and a 12 month high of $59.00. The firm has a 50 day moving average of $55.90 and a 200-day moving average of $47.63. The stock has a market capitalization of $1.91 billion, a price-to-earnings ratio of 22.79 and a beta of 1.26.
Banner Corporation (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, October 26th. The financial services provider reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. Banner Corporation had a net margin of 17.98% and a return on equity of 7.05%. Analysts forecast that Banner Corporation will post $3.06 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 18th. Stockholders of record on Monday, January 9th were issued a dividend of $0.23 per share. The ex-dividend date was Thursday, January 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 1.60%. Banner Corporation’s dividend payout ratio is currently 36.51%.
A number of equities analysts have weighed in on BANR shares. Zacks Investment Research upgraded shares of Banner Corporation from a “hold” rating to a “buy” rating and set a $63.00 price target on the stock in a report on Wednesday, January 4th. FBR & Co restated a “hold” rating and set a $46.00 target price on shares of Banner Corporation in a report on Friday, October 28th. Finally, FIG Partners lowered shares of Banner Corporation from an “outperform” rating to a “market perform” rating in a report on Friday, November 4th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $51.80.
In other Banner Corporation news, Director Spencer C. Fleischer sold 905,000 shares of the company’s stock in a transaction that occurred on Friday, November 4th. The shares were sold at an average price of $43.24, for a total value of $39,132,200.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Spencer C. Fleischer sold 720,000 shares of the company’s stock in a transaction that occurred on Friday, November 18th. The shares were sold at an average price of $48.32, for a total transaction of $34,790,400.00. The disclosure for this sale can be found here. Insiders have sold 1,654,491 shares of company stock worth $75,473,562 in the last 90 days. 1.98% of the stock is owned by company insiders.
About Banner Corporation
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 regional bank that offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its market areas.
Want to see what other hedge funds are holding BANR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Banner Corporation (NASDAQ:BANR).