State Board of Administration of Florida Retirement System boosted its stake in shares of Banner Corporation (NASDAQ:BANR) by 35.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,890 shares of the financial services provider’s stock after buying an additional 7,010 shares during the period. State Board of Administration of Florida Retirement System owned about 0.08% of Banner Corporation worth $1,648,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BANR. Piedmont Investment Advisors LLC acquired a new position in shares of Banner Corporation in the 2nd quarter valued at about $320,000. Context BH Capital Management LP increased its holdings in shares of Banner Corporation by 2.3% in the 2nd quarter. Context BH Capital Management LP now owns 108,941 shares of the financial services provider’s stock valued at $6,156,000 after purchasing an additional 2,400 shares during the period. Kennedy Capital Management Inc. increased its holdings in shares of Banner Corporation by 4.4% in the 2nd quarter. Kennedy Capital Management Inc. now owns 367,421 shares of the financial services provider’s stock valued at $20,763,000 after purchasing an additional 15,531 shares during the period. Eagle Boston Investment Management Inc. increased its holdings in shares of Banner Corporation by 28.4% in the 2nd quarter. Eagle Boston Investment Management Inc. now owns 109,682 shares of the financial services provider’s stock valued at $6,198,000 after purchasing an additional 24,232 shares during the period. Finally, CIBC Asset Management Inc acquired a new position in shares of Banner Corporation in the 2nd quarter valued at about $201,000. Hedge funds and other institutional investors own 89.69% of the company’s stock.

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In related news, VP Cynthia D. Purcell sold 1,007 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $55.61, for a total value of $55,999.27. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary Sirmon sold 3,335 shares of the company’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $57.49, for a total value of $191,729.15. The disclosure for this sale can be found here. In the last three months, insiders sold 4,674 shares of company stock valued at $266,423. 1.71% of the stock is currently owned by company insiders.

Shares of Banner Corporation (NASDAQ BANR) opened at $55.23 on Friday. The company has a market capitalization of $1,815.18, a P/E ratio of 18.57, a P/E/G ratio of 1.97 and a beta of 1.07. Banner Corporation has a 12 month low of $48.55 and a 12 month high of $62.75. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.35.

Banner Corporation (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.76 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.01). The firm had revenue of $120.55 million during the quarter, compared to the consensus estimate of $123.58 million. Banner Corporation had a net margin of 19.70% and a return on equity of 7.52%. research analysts expect that Banner Corporation will post 3.13 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th were paid a $0.25 dividend. The ex-dividend date was Friday, October 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.81%. Banner Corporation’s payout ratio is 34.01%.

A number of equities analysts have recently weighed in on BANR shares. BidaskClub downgraded Banner Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Zacks Investment Research downgraded Banner Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Stephens started coverage on Banner Corporation in a report on Wednesday, September 13th. They issued an “equal weight” rating and a $60.00 target price on the stock. ValuEngine upgraded Banner Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 15th. Finally, DA Davidson downgraded Banner Corporation from a “buy” rating to a “neutral” rating in a report on Thursday, October 26th. One investment analyst has rated the stock with a sell rating and five have assigned a hold rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $60.67.

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.

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

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