Xact Kapitalforvaltning AB Takes Position in Banner Co. (BANR)

Xact Kapitalforvaltning AB bought a new stake in Banner Co. (NASDAQ:BANR) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,944 shares of the financial services provider’s stock, valued at approximately $217,000.

Several other institutional investors and hedge funds also recently bought and sold shares of BANR. Millennium Management LLC boosted its stake in shares of Banner by 242.3% in the 4th quarter. Millennium Management LLC now owns 462,513 shares of the financial services provider’s stock valued at $25,494,000 after purchasing an additional 327,377 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of Banner by 110.0% in the 4th quarter. Deutsche Bank AG now owns 121,918 shares of the financial services provider’s stock valued at $6,718,000 after purchasing an additional 63,867 shares in the last quarter. Arizona State Retirement System boosted its stake in shares of Banner by 220.1% in the 4th quarter. Arizona State Retirement System now owns 55,136 shares of the financial services provider’s stock valued at $3,039,000 after purchasing an additional 37,909 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Banner by 13.0% in the 4th quarter. Geode Capital Management LLC now owns 304,262 shares of the financial services provider’s stock valued at $16,770,000 after purchasing an additional 34,925 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Banner by 30.1% in the 4th quarter. Wells Fargo & Company MN now owns 118,350 shares of the financial services provider’s stock valued at $6,523,000 after purchasing an additional 27,389 shares in the last quarter. Institutional investors own 92.06% of the company’s stock.

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BANR opened at $55.54 on Wednesday. Banner Co. has a 1-year low of $52.07 and a 1-year high of $62.75. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $1,825.36, a PE ratio of 18.77, a P/E/G ratio of 1.63 and a beta of 0.96.



Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.71 EPS for the quarter, missing the consensus estimate of $0.79 by ($0.08). Banner had a return on equity of 7.55% and a net margin of 12.02%. The business had revenue of $128.15 million for the quarter, compared to analyst estimates of $126.56 million. analysts expect that Banner Co. will post 3.43 earnings per share for the current year.

Banner announced that its board has approved a stock repurchase program on Wednesday, March 28th that allows the company to buyback 1,620,000 outstanding shares. This buyback authorization allows the financial services provider to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 19th. Investors of record on Tuesday, April 10th will be given a dividend of $0.35 per share. The ex-dividend date is Monday, April 9th. This is an increase from Banner’s previous quarterly dividend of $0.25. This represents a $1.40 annualized dividend and a yield of 2.52%. Banner’s dividend payout ratio (DPR) is currently 46.82%.

In related news, VP Kenneth A. Larsen sold 884 shares of Banner stock in a transaction that occurred on Thursday, March 8th. The shares were sold at an average price of $57.53, for a total transaction of $50,856.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Cynthia D. Purcell sold 841 shares of Banner stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $54.67, for a total transaction of $45,977.47. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,137 shares of company stock worth $120,590. 1.76% of the stock is owned by corporate insiders.

A number of equities research analysts have recently weighed in on the stock. BidaskClub upgraded shares of Banner from a “sell” rating to a “hold” rating in a research note on Monday, February 5th. Piper Jaffray restated a “hold” rating and issued a $58.00 price target on shares of Banner in a research note on Friday, February 2nd. Sandler O’Neill restated a “buy” rating on shares of Banner in a research note on Friday, January 26th. Zacks Investment Research upgraded shares of Banner from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $58.00 price target on shares of Banner in a research note on Friday, January 26th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $60.25.

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About Banner

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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