Great West Life Assurance Co. Can boosted its position in shares of Banner Co. (NASDAQ:BANR) by 4.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 42,304 shares of the financial services provider’s stock after purchasing an additional 1,879 shares during the period. Great West Life Assurance Co. Can owned 0.13% of Banner worth $2,087,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. increased its holdings in shares of Banner by 0.9% during the 3rd quarter. BlackRock Inc. now owns 4,768,338 shares of the financial services provider’s stock worth $296,446,000 after purchasing an additional 42,392 shares during the period. Vanguard Group Inc. increased its stake in Banner by 1.4% in the third quarter. Vanguard Group Inc. now owns 3,238,908 shares of the financial services provider’s stock valued at $201,362,000 after acquiring an additional 44,999 shares during the period. Vanguard Group Inc increased its stake in Banner by 1.4% in the third quarter. Vanguard Group Inc now owns 3,238,908 shares of the financial services provider’s stock valued at $201,362,000 after acquiring an additional 44,999 shares during the period. Dimensional Fund Advisors LP increased its stake in Banner by 2.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,662,581 shares of the financial services provider’s stock valued at $165,533,000 after acquiring an additional 73,201 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Banner by 2.2% in the third quarter. Bank of New York Mellon Corp now owns 954,170 shares of the financial services provider’s stock valued at $59,321,000 after acquiring an additional 20,222 shares during the period. Hedge funds and other institutional investors own 83.80% of the company’s stock.
In related news, Director Cheryl R. Bishop sold 11,943 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $63.62, for a total value of $759,813.66. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Corporate insiders own 2.51% of the company’s stock.
Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, January 23rd. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.04 by $0.05. Banner had a net margin of 24.90% and a return on equity of 10.43%. The company had revenue of $139.16 million for the quarter, compared to analyst estimates of $134.25 million. On average, research analysts expect that Banner Co. will post 4.3 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Tuesday, April 9th will be issued a $0.41 dividend. This is a positive change from Banner’s previous quarterly dividend of $0.38. This represents a $1.64 annualized dividend and a yield of 2.98%. The ex-dividend date of this dividend is Monday, April 8th. Banner’s dividend payout ratio is currently 40.10%.
A number of analysts recently weighed in on the stock. Zacks Investment Research cut shares of Banner from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 15th. BidaskClub cut shares of Banner from a “buy” rating to a “hold” rating in a research note on Wednesday, March 6th. ValuEngine cut shares of Banner from a “hold” rating to a “sell” rating in a research note on Thursday, January 10th. Finally, Stephens reissued a “hold” rating and issued a $56.00 target price on shares of Banner in a research note on Wednesday, December 19th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. Banner presently has an average rating of “Hold” and a consensus target price of $61.83.
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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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