Nuveen Asset Management LLC grew its holdings in Banner Co. (NASDAQ:BANR) by 5.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 835,427 shares of the financial services provider’s stock after acquiring an additional 42,165 shares during the quarter. Nuveen Asset Management LLC owned 2.58% of Banner worth $46,358,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of BANR. Dimensional Fund Advisors LP raised its stake in shares of Banner by 10.8% in the first quarter. Dimensional Fund Advisors LP now owns 2,357,544 shares of the financial services provider’s stock worth $130,820,000 after purchasing an additional 229,699 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Banner by 0.6% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,571,088 shares of the financial services provider’s stock worth $86,599,000 after purchasing an additional 9,312 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Banner by 1.5% in the fourth quarter. Victory Capital Management Inc. now owns 606,317 shares of the financial services provider’s stock worth $33,420,000 after purchasing an additional 9,153 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Banner by 369.5% in the first quarter. JPMorgan Chase & Co. now owns 549,881 shares of the financial services provider’s stock worth $30,512,000 after purchasing an additional 432,756 shares during the last quarter. Finally, Millennium Management LLC raised its stake in shares of Banner by 242.3% in the fourth quarter. Millennium Management LLC now owns 462,513 shares of the financial services provider’s stock worth $25,494,000 after purchasing an additional 327,377 shares during the last quarter. 92.38% of the stock is owned by institutional investors and hedge funds.

Shares of Banner opened at $61.55 on Thursday, Marketbeat.com reports. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.92 and a quick ratio of 0.90. The company has a market cap of $1.97 billion, a P/E ratio of 20.59, a P/E/G ratio of 1.72 and a beta of 0.97. Banner Co. has a twelve month low of $52.20 and a twelve month high of $62.75.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Monday, April 23rd. The financial services provider reported $0.81 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.08. The company had revenue of $118.74 million during the quarter, compared to analysts’ expectations of $118.23 million. Banner had a return on equity of 8.00% and a net margin of 12.85%. equities analysts predict that Banner Co. will post 3.53 earnings per share for the current year.

Banner declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 28th that authorizes the company to buyback 1,620,000 shares. This buyback authorization authorizes the financial services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

BANR has been the subject of several research analyst reports. BidaskClub upgraded Banner from a “hold” rating to a “buy” rating in a research note on Wednesday, March 7th. Zacks Investment Research cut Banner from a “hold” rating to a “sell” rating in a research note on Tuesday, March 27th. Finally, Stephens restated a “hold” rating and issued a $60.00 price objective on shares of Banner in a research note on Tuesday, April 24th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $60.25.

In related news, VP Steven W. Rust sold 511 shares of Banner stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $57.82, for a total transaction of $29,546.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 1.71% of the stock is currently owned by company insiders.

Banner Company 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.

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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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