Chicago Equity Partners LLC Invests $2.67 Million in Banner Co. (BANR) Stock

Chicago Equity Partners LLC bought a new position in shares of Banner Co. (NASDAQ:BANR) during the third quarter, Holdings Channel reports. The institutional investor bought 42,985 shares of the financial services provider’s stock, valued at approximately $2,672,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. UBS Group AG lifted its stake in Banner by 93.8% during the first quarter. UBS Group AG now owns 6,685 shares of the financial services provider’s stock worth $371,000 after purchasing an additional 3,236 shares in the last quarter. Guggenheim Capital LLC lifted its stake in Banner by 19.3% during the first quarter. Guggenheim Capital LLC now owns 15,650 shares of the financial services provider’s stock worth $869,000 after purchasing an additional 2,537 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Banner by 4.3% during the first quarter. Principal Financial Group Inc. now owns 277,324 shares of the financial services provider’s stock worth $15,388,000 after purchasing an additional 11,424 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in Banner by 200.0% during the second quarter. Nisa Investment Advisors LLC now owns 10,500 shares of the financial services provider’s stock worth $631,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Ramsey Quantitative Systems acquired a new position in Banner during the second quarter worth $325,000. Institutional investors and hedge funds own 91.69% of the company’s stock.

Banner stock opened at $61.78 on Friday. Banner Co. has a twelve month low of $52.10 and a twelve month 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 firm has a market cap of $1.99 billion, a PE ratio of 16.27, a P/E/G ratio of 2.27 and a beta of 0.93.

Banner (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.25. Banner had a return on equity of 9.74% and a net margin of 16.08%. The business had revenue of $129.49 million for the quarter, compared to analyst estimates of $125.29 million. Analysts predict that Banner Co. will post 3.88 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Wednesday, October 10th were given a dividend of $0.38 per share. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from Banner’s previous quarterly dividend of $0.35. Banner’s dividend payout ratio is currently 50.84%.

BANR has been the topic of a number of research reports. BidaskClub upgraded Banner from a “hold” rating to a “buy” rating in a research note on Saturday, September 8th. Piper Jaffray Companies set a $62.00 price objective on Banner and gave the stock a “hold” rating in a research report on Wednesday, October 31st. FIG Partners raised Banner from a “market perform” rating to an “outperform” rating in a research report on Friday, October 26th. Sandler O’Neill reaffirmed a “buy” rating and set a $70.00 price objective on shares of Banner in a research report on Monday, July 30th. Finally, Stephens reaffirmed a “hold” rating and set a $68.00 price objective on shares of Banner in a research report on Thursday, September 6th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $66.00.

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Banner 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.

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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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