Neuburgh Advisers LLC lifted its holdings in Banner Co. (NASDAQ:BANR) by 15.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,922 shares of the financial services provider’s stock after purchasing an additional 1,054 shares during the period. Neuburgh Advisers LLC’s holdings in Banner were worth $440,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Deutsche Bank AG grew its position in Banner by 110.0% during the fourth quarter. Deutsche Bank AG now owns 121,918 shares of the financial services provider’s stock worth $6,718,000 after buying an additional 63,867 shares in the last quarter. Adams Diversified Equity Fund Inc. acquired a new stake in Banner during the fourth quarter worth about $722,000. California Public Employees Retirement System grew its position in Banner by 9.4% during the fourth quarter. California Public Employees Retirement System now owns 64,765 shares of the financial services provider’s stock worth $3,570,000 after buying an additional 5,554 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Banner by 0.6% during 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 buying an additional 9,312 shares in the last quarter. Finally, Millennium Management LLC grew its position in Banner by 242.3% during the fourth quarter. Millennium Management LLC now owns 462,513 shares of the financial services provider’s stock worth $25,494,000 after buying an additional 327,377 shares in the last quarter. Institutional investors and hedge funds own 92.37% of the company’s stock.
A number of equities research analysts recently weighed in on BANR shares. BidaskClub downgraded Banner from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. Sandler O’Neill reaffirmed a “buy” rating on shares of Banner in a report on Friday, January 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $58.00 price objective on shares of Banner in a report on Friday, January 26th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $58.00 price objective on shares of Banner in a report on Friday, February 2nd. Finally, Zacks Investment Research downgraded Banner from a “buy” rating to a “hold” rating in a report on Tuesday, February 27th. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $60.25.
Banner opened at $59.11 on Tuesday, according to Marketbeat.com. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.90 and a current ratio of 0.92. The company has a market cap of $1.88 billion, a price-to-earnings ratio of 19.77, a P/E/G ratio of 1.66 and a beta of 0.96. Banner Co. has a 1-year low of $52.07 and a 1-year high of $62.75.
Banner (NASDAQ:BANR) last released its quarterly earnings data on Monday, April 23rd. The financial services provider reported $0.81 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. The company had revenue of $118.74 million for the quarter, compared to the consensus estimate of $118.23 million. Banner had a return on equity of 8.00% and a net margin of 12.85%. sell-side analysts predict that Banner Co. will post 3.51 EPS for the current year.
Banner declared that its Board of Directors has approved a stock repurchase program on Wednesday, March 28th that allows the company to repurchase 1,620,000 outstanding shares. This repurchase authorization allows the financial services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, VP Steven W. Rust sold 511 shares of the business’s stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $57.82, for a total value of $29,546.02. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Kenneth A. Larsen sold 884 shares of the business’s stock in a transaction that occurred on Thursday, March 8th. The stock was sold at an average price of $57.53, for a total value of $50,856.52. The disclosure for this sale can be found here. Insiders have sold 1,807 shares of company stock worth $104,158 over the last ninety days. Company insiders own 1.76% of the company’s stock.
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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