First Trust Advisors LP decreased its position in shares of Banner Co. (NASDAQ:BANR) by 4.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 90,394 shares of the financial services provider’s stock after selling 4,690 shares during the quarter. First Trust Advisors LP’s holdings in Banner were worth $4,897,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Banner during the 4th quarter worth approximately $24,271,000. Stifel Financial Corp raised its holdings in Banner by 129.5% during the 4th quarter. Stifel Financial Corp now owns 239,419 shares of the financial services provider’s stock worth $12,776,000 after buying an additional 135,089 shares during the period. FMR LLC raised its holdings in Banner by 15.8% during the 4th quarter. FMR LLC now owns 855,555 shares of the financial services provider’s stock worth $45,755,000 after buying an additional 116,455 shares during the period. Acadian Asset Management LLC raised its holdings in Banner by 1,078.4% during the 4th quarter. Acadian Asset Management LLC now owns 109,229 shares of the financial services provider’s stock worth $5,842,000 after buying an additional 99,960 shares during the period. Finally, Martingale Asset Management L P acquired a new stake in Banner during the 1st quarter worth approximately $4,975,000. 84.09% of the stock is currently owned by institutional investors and hedge funds.
In related news, VP Steven W. Rust sold 491 shares of the firm’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $53.39, for a total value of $26,214.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.51% of the stock is currently owned by company insiders.
Banner (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.07). Banner had a net margin of 24.74% and a return on equity of 10.39%. The business had revenue of $134.23 million during the quarter, compared to analyst estimates of $139.04 million. On average, analysts predict that Banner Co. will post 4.12 EPS for the current fiscal year.
A number of research firms have recently issued reports on BANR. BidaskClub downgraded shares of Banner from a “sell” rating to a “strong sell” rating in a report on Friday, March 22nd. Zacks Investment Research upgraded shares of Banner from a “hold” rating to a “buy” rating and set a $60.00 price objective on the stock in a report on Wednesday, March 27th. DA Davidson upgraded shares of Banner from a “neutral” rating to a “buy” rating in a report on Tuesday. Finally, Raymond James set a $62.00 price objective on shares of Banner and gave the company a “buy” rating in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $61.50.
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Banner Company Profile
Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank that 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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