Oregon Public Employees Retirement Fund increased its stake in shares of Banner Co. (NASDAQ:BANR) by 1.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,404 shares of the financial services provider’s stock after purchasing an additional 200 shares during the quarter. Oregon Public Employees Retirement Fund’s holdings in Banner were worth $672,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Public Employees Retirement System of Ohio lifted its holdings in shares of Banner by 47.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 563 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 182 shares during the period. Huntington National Bank lifted its holdings in shares of 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 purchasing an additional 601 shares during the period. Pearl River Capital LLC lifted its holdings in shares of Banner by 716.7% during the first quarter. Pearl River Capital LLC now owns 2,246 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 1,971 shares during the period. SG Americas Securities LLC purchased a new position in Banner in the first quarter worth $186,000. Finally, Everence Capital Management Inc. purchased a new position in Banner in the first quarter worth $225,000. 83.64% of the stock is owned by hedge funds and other institutional investors.
BANR has been the subject of several research analyst reports. Stephens reiterated a “hold” rating on shares of Banner in a research report on Thursday, July 25th. BidaskClub cut Banner from a “buy” rating to a “hold” rating in a research report on Saturday. ValuEngine upgraded Banner from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. DA Davidson upgraded Banner from a “neutral” rating to a “buy” rating in a research report on Tuesday, June 11th. Finally, Raymond James set a $60.00 price objective on Banner and gave the stock a “buy” rating in a research report on Friday, May 3rd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $59.75.
Banner (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, July 24th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.05 by $0.09. Banner had a return on equity of 10.43% and a net margin of 25.14%. The firm had revenue of $137.37 million during the quarter, compared to analysts’ expectations of $137.47 million. Sell-side analysts anticipate that Banner Co. will post 4.23 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.00%. The ex-dividend date was Monday, July 8th. Banner’s dividend payout ratio is currently 40.10%.
Banner Company Profile
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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