Banner Corporation (NASDAQ:BANR) Stake Held by Louisiana State Employees Retirement System
Louisiana State Employees Retirement System continued to hold its position in Banner Corporation (NASDAQ:BANR) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 10,700 shares of the financial services provider’s stock at the end of the second quarter. Louisiana State Employees Retirement System’s holdings in Banner Corporation were worth $605,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its position in Banner Corporation by 15,613.6% in the first quarter. BlackRock Inc. now owns 3,704,010 shares of the financial services provider’s stock worth $206,091,000 after buying an additional 3,680,438 shares in the last quarter. Vanguard Group Inc. boosted its stake in Banner Corporation by 8.0% in the first quarter. Vanguard Group Inc. now owns 2,733,227 shares of the financial services provider’s stock valued at $152,077,000 after buying an additional 201,612 shares during the period. Bank of New York Mellon Corp boosted its stake in Banner Corporation by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 2,276,421 shares of the financial services provider’s stock valued at $126,660,000 after buying an additional 150,495 shares during the period. FMR LLC boosted its stake in Banner Corporation by 35.2% in the first quarter. FMR LLC now owns 2,178,833 shares of the financial services provider’s stock valued at $121,230,000 after buying an additional 566,872 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in Banner Corporation by 9.7% in the first quarter. Dimensional Fund Advisors LP now owns 1,799,683 shares of the financial services provider’s stock valued at $100,135,000 after buying an additional 159,675 shares during the period. Hedge funds and other institutional investors own 88.24% of the company’s stock.
Shares of Banner Corporation (BANR) traded up 0.90% on Tuesday, hitting $57.49. The stock had a trading volume of 54,832 shares. The stock has a 50 day moving average of $56.36 and a 200-day moving average of $56.13. Banner Corporation has a 12 month low of $40.65 and a 12 month high of $60.97. The stock has a market cap of $1.91 billion, a PE ratio of 20.02 and a beta of 1.05.
Banner Corporation (NASDAQ:BANR) last posted its earnings results on Wednesday, July 26th. The financial services provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. The company had revenue of $122.18 million for the quarter, compared to the consensus estimate of $119.46 million. Banner Corporation had a return on equity of 7.50% and a net margin of 19.63%. Equities research analysts anticipate that Banner Corporation will post $3.09 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Investors of record on Monday, July 10th were given a $1.25 dividend. The ex-dividend date was Thursday, July 6th. This represents a $5.00 dividend on an annualized basis and a dividend yield of 8.78%. Banner Corporation’s dividend payout ratio is currently 34.72%.
A number of equities analysts recently commented on BANR shares. BidaskClub raised Banner Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research lowered Banner Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Finally, Piper Jaffray Companies decreased their price objective on Banner Corporation from $64.00 to $62.00 and set an “overweight” rating for the company in a report on Monday, April 17th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $55.75.
In related news, Director Gary Sirmon sold 3,333 shares of the business’s stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $55.46, for a total value of $184,848.18. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders sold 7,005 shares of company stock worth $392,450 over the last quarter. 1.71% 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 Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.
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