Rhumbline Advisers Reduces Position in Banner Co. (BANR)

Rhumbline Advisers lessened its stake in shares of Banner Co. (NASDAQ:BANR) by 7.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 80,214 shares of the financial services provider’s stock after selling 6,704 shares during the period. Rhumbline Advisers owned 0.25% of Banner worth $4,987,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in BANR. Itau Unibanco Holding S.A. acquired a new position in Banner during the second quarter worth $103,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in Banner during the second quarter worth $411,000. Alps Advisors Inc. acquired a new position in Banner during the second quarter worth $461,000. Acadian Asset Management LLC acquired a new position in Banner during the third quarter worth $577,000. Finally, Metropolitan Life Insurance Co. NY raised its holdings in Banner by 351.5% during the second quarter. Metropolitan Life Insurance Co. NY now owns 10,465 shares of the financial services provider’s stock worth $629,000 after buying an additional 8,147 shares during the last quarter. Institutional investors own 90.93% of the company’s stock.

In other news, VP Peter Conner sold 580 shares of the company’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $60.32, for a total value of $34,985.60. Following the completion of the sale, the vice president now owns 24,222 shares in the company, valued at approximately $1,461,071.04. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.71% of the company’s stock.

NASDAQ BANR opened at $58.21 on Friday. Banner Co. has a 1 year low of $52.10 and a 1 year high of $67.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.93 and a quick ratio of 0.92. The firm has a market capitalization of $1.85 billion, a PE ratio of 15.09, a PEG ratio of 2.04 and a beta of 0.89.

Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 firm had revenue of $129.49 million during the quarter, compared to analyst estimates of $125.29 million. Analysts forecast that Banner Co. will post 4 earnings per share for the current fiscal year.

Several research analysts have weighed in on the stock. BidaskClub upgraded shares of Banner from a “hold” rating to a “buy” rating in a report on Saturday, September 8th. Stephens restated a “hold” rating and set a $68.00 price objective on shares of Banner in a report on Thursday, September 6th. Piper Jaffray Companies set a $62.00 price objective on shares of Banner and gave the stock a “hold” rating in a report on Wednesday, October 31st. Finally, FIG Partners upgraded shares of Banner from a “market perform” rating to an “outperform” rating in a report on Friday, October 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. Banner 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.

Further Reading: Analyst Ratings

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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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