Banner Corporation $BANR Shares Sold by Raymond James Financial Inc.

Raymond James Financial Inc. decreased its holdings in shares of Banner Corporation (NASDAQ:BANR) by 3.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 145,670 shares of the financial services provider’s stock after selling 4,447 shares during the period. Raymond James Financial Inc. owned approximately 0.42% of Banner worth $9,289,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD grew its holdings in shares of Banner by 9.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 25,462 shares of the financial services provider’s stock worth $1,701,000 after acquiring an additional 2,226 shares during the period. Northern Trust Corp grew its holdings in shares of Banner by 16.9% in the 4th quarter. Northern Trust Corp now owns 487,951 shares of the financial services provider’s stock worth $32,580,000 after acquiring an additional 70,544 shares during the period. Lido Advisors LLC grew its holdings in shares of Banner by 29.8% in the 4th quarter. Lido Advisors LLC now owns 5,381 shares of the financial services provider’s stock worth $359,000 after acquiring an additional 1,236 shares during the period. Comerica Bank grew its holdings in shares of Banner by 4.3% in the 4th quarter. Comerica Bank now owns 14,060 shares of the financial services provider’s stock worth $939,000 after acquiring an additional 586 shares during the period. Finally, Bridgeway Capital Management LLC grew its holdings in shares of Banner by 2.0% in the 4th quarter. Bridgeway Capital Management LLC now owns 237,238 shares of the financial services provider’s stock worth $15,840,000 after acquiring an additional 4,716 shares during the period. Institutional investors and hedge funds own 87.33% of the company’s stock.

Wall Street Analyst Weigh In

BANR has been the topic of a number of research reports. DA Davidson upped their price target on Banner from $67.00 to $72.00 and gave the stock a “neutral” rating in a report on Friday, July 18th. Wall Street Zen cut Banner from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $70.17.

Banner Stock Down 0.3%

Shares of NASDAQ:BANR opened at $67.03 on Monday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.40. Banner Corporation has a 52-week low of $53.78 and a 52-week high of $78.05. The stock’s fifty day simple moving average is $65.39 and its 200-day simple moving average is $63.82. The company has a market capitalization of $2.32 billion, a P/E ratio of 12.77 and a beta of 0.95.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.03. Banner had a return on equity of 10.06% and a net margin of 21.15%.The business had revenue of $162.98 million for the quarter, compared to the consensus estimate of $167.96 million. As a group, equities research analysts forecast that Banner Corporation will post 5.23 earnings per share for the current fiscal year.

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Tuesday, August 5th. Banner’s payout ratio is presently 36.57%.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, 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.