Prudential Financial Inc. lessened its position in shares of Banner Corporation (NASDAQ:BANR) by 0.9% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,953 shares of the financial services provider’s stock after selling 670 shares during the period. Prudential Financial Inc. owned 0.21% of Banner Corporation worth $4,010,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. raised its stake in Banner Corporation by 15,613.6% during 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 during the last quarter. Vanguard Group Inc. raised its stake in Banner Corporation by 8.0% during the first quarter. Vanguard Group Inc. now owns 2,733,227 shares of the financial services provider’s stock worth $152,077,000 after buying an additional 201,612 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Banner Corporation by 0.8% during the second quarter. Bank of New York Mellon Corp now owns 2,295,436 shares of the financial services provider’s stock worth $129,716,000 after buying an additional 19,015 shares during the last quarter. FMR LLC raised its stake in Banner Corporation by 35.2% during the first quarter. FMR LLC now owns 2,178,833 shares of the financial services provider’s stock worth $121,230,000 after buying an additional 566,872 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Banner Corporation by 9.7% during the first quarter. Dimensional Fund Advisors LP now owns 1,799,683 shares of the financial services provider’s stock worth $100,135,000 after buying an additional 159,675 shares during the last quarter. 88.45% of the stock is owned by institutional investors and hedge funds.

In other Banner Corporation news, VP Cynthia D. Purcell sold 1,007 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $55.61, for a total value of $55,999.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gary Sirmon sold 3,333 shares of the company’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $55.46, for a total transaction of $184,848.18. The disclosure for this sale can be found here. Insiders sold a total of 11,258 shares of company stock valued at $631,587 over the last 90 days. Company insiders own 1.71% of the company’s stock.

Several equities research analysts have weighed in on the stock. BidaskClub raised shares of Banner Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. Zacks Investment Research raised shares of Banner Corporation from a “sell” rating to a “buy” rating and set a $63.00 price target for the company in a research note on Monday, July 3rd. ValuEngine raised shares of Banner Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Finally, Stephens assumed coverage on shares of Banner Corporation in a research note on Wednesday, September 13th. They issued an “equal weight” rating and a $60.00 price target for the company. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company. Banner Corporation has an average rating of “Hold” and an average price target of $57.75.

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Shares of Banner Corporation (BANR) opened at 58.38 on Friday. The company has a market capitalization of $1.94 billion, a P/E ratio of 20.33 and a beta of 1.05. The firm has a 50-day moving average of $55.85 and a 200 day moving average of $55.72. Banner Corporation has a 1-year low of $42.93 and a 1-year high of $60.97.

Banner Corporation (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.78 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Banner Corporation had a net margin of 19.63% and a return on equity of 7.50%. The business had revenue of $122.18 million during the quarter, compared to analyst estimates of $119.46 million. On average, equities research analysts expect that Banner Corporation will post $3.10 earnings per share for the current year.

Banner Corporation Company Profile

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.

Institutional Ownership by Quarter for Banner Corporation (NASDAQ:BANR)

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