First Trust Advisors LP Sells 49,739 Shares of Banner Corporation (BANR)

First Trust Advisors LP reduced its stake in shares of Banner Corporation (NASDAQ:BANR) by 38.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 78,120 shares of the financial services provider’s stock after selling 49,739 shares during the quarter. First Trust Advisors LP owned 0.23% of Banner Corporation worth $4,787,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Creative Planning grew its holdings in Banner Corporation by 4.6% in the second quarter. Creative Planning now owns 1,913 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 85 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Banner Corporation by 236.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,135 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 1,500 shares during the period. Riverhead Capital Management LLC grew its holdings in Banner Corporation by 182.8% in the second quarter. Riverhead Capital Management LLC now owns 2,262 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 1,462 shares during the period. Ameritas Investment Partners Inc. grew its holdings in Banner Corporation by 11.6% in the second quarter. Ameritas Investment Partners Inc. now owns 2,893 shares of the financial services provider’s stock valued at $163,000 after purchasing an additional 300 shares during the period. Finally, Flinton Capital Management LLC grew its holdings in Banner Corporation by 200.0% in the second quarter. Flinton Capital Management LLC now owns 3,528 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 2,352 shares during the period. Institutional investors own 89.69% of the company’s stock.

In other news, VP Cynthia D. Purcell sold 1,007 shares of Banner Corporation 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 document filed with the SEC, which can be accessed through this link. Also, Director Gary Sirmon sold 3,335 shares of Banner Corporation 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. Insiders sold 4,674 shares of company stock worth $266,423 over the last ninety days. Corporate insiders own 1.71% of the company’s stock.

Shares of Banner Corporation (BANR) opened at $56.54 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.94 and a quick ratio of 0.93. The company has a market capitalization of $1,815.18, a P/E ratio of 18.57, a price-to-earnings-growth ratio of 1.97 and a beta of 1.07. Banner Corporation has a 1-year low of $49.13 and a 1-year high of $62.75.

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

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BANR has been the topic of several research analyst reports. ValuEngine lowered Banner Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Zacks Investment Research lowered Banner Corporation from a “hold” rating to a “sell” rating in a report on Monday, October 30th. DA Davidson lowered Banner Corporation from a “buy” rating to a “neutral” rating in a report on Thursday, October 26th. Piper Jaffray Companies reissued a “neutral” rating on shares of Banner Corporation in a report on Friday, October 27th. Finally, BidaskClub lowered Banner Corporation from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One research analyst has rated the stock with a sell rating and five have issued a hold rating to the stock. Banner Corporation presently has a consensus rating of “Hold” and an average price target of $60.67.

Banner Corporation 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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