Bank of New York Mellon Corp Acquires 20,222 Shares of Banner Co. (BANR)

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Bank of New York Mellon Corp grew its holdings in Banner Co. (NASDAQ:BANR) by 2.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 954,170 shares of the financial services provider’s stock after acquiring an additional 20,222 shares during the period. Bank of New York Mellon Corp’s holdings in Banner were worth $59,321,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Banner in the 2nd quarter valued at $103,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Banner by 12.8% in the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 7,718 shares of the financial services provider’s stock valued at $480,000 after acquiring an additional 876 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in shares of Banner in the 3rd quarter valued at $577,000. Metropolitan Life Insurance Co. NY boosted its holdings in shares of Banner by 351.5% in the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 10,465 shares of the financial services provider’s stock valued at $629,000 after acquiring an additional 8,147 shares during the last quarter. Finally, FSI Group LLC boosted its holdings in shares of Banner by 64.9% in the 3rd quarter. FSI Group LLC now owns 10,504 shares of the financial services provider’s stock valued at $653,000 after acquiring an additional 4,135 shares during the last quarter. 90.90% of the stock is currently owned by institutional investors and hedge funds.

BANR opened at $52.88 on Friday. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.34. Banner Co. has a 1 year low of $48.50 and a 1 year high of $67.11. The firm has a market capitalization of $1.77 billion, a P/E ratio of 17.69, a PEG ratio of 1.82 and a beta of 0.93.

Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.25. Banner had a net margin of 16.08% and a return on equity of 9.74%. The firm had revenue of $129.49 million during the quarter, compared to analysts’ expectations of $125.29 million. As a group, equities research analysts forecast that Banner Co. will post 4 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 18th. Investors of record on Wednesday, January 9th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Tuesday, January 8th. Banner’s dividend payout ratio is currently 50.84%.

BANR has been the topic of several recent research reports. Stephens reaffirmed a “hold” rating and issued a $56.00 price objective on shares of Banner in a report on Wednesday, December 19th. BidaskClub upgraded shares of Banner from a “strong sell” rating to a “sell” rating in a research note on Tuesday, November 6th. ValuEngine upgraded shares of Banner from a “sell” rating to a “hold” rating in a research note on Wednesday, January 2nd. Piper Jaffray Companies set a $62.00 target price on shares of Banner and gave the company a “hold” rating in a research note on Wednesday, October 31st. Finally, FIG Partners upgraded shares of Banner from a “market perform” rating to an “outperform” rating in a research note on Friday, October 26th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $63.60.

In related news, VP Peter Conner sold 580 shares of the business’s stock in a transaction on Friday, November 16th. The shares were sold at an average price of $60.32, for a total value of $34,985.60. Following the completion of the transaction, the vice president now directly owns 24,222 shares in the company, valued at approximately $1,461,071.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director John R. Layman sold 1,000 shares of the business’s stock in a transaction on Friday, December 7th. The shares were sold at an average price of $57.65, for a total transaction of $57,650.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,160 shares of company stock valued at $184,076. Company insiders own 1.76% of the company’s stock.

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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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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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