State of Wisconsin Investment Board Buys 5,300 Shares of Banner Co. (NASDAQ:BANR)

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State of Wisconsin Investment Board grew its stake in Banner Co. (NASDAQ:BANR) by 3.2% during the first quarter, HoldingsChannel.com reports. The firm owned 170,300 shares of the financial services provider’s stock after purchasing an additional 5,300 shares during the quarter. State of Wisconsin Investment Board’s holdings in Banner were worth $9,225,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Enlightenment Research LLC acquired a new position in shares of Banner in the fourth quarter valued at approximately $27,000. Public Employees Retirement System of Ohio increased its holdings in shares of Banner by 47.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 563 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 182 shares during the period. Huntington National Bank increased its holdings in shares of Banner by 1,669.4% in the first quarter. Huntington National Bank now owns 637 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 601 shares during the period. Advisor Group Inc. increased its holdings in shares of Banner by 1,399.2% in the first quarter. Advisor Group Inc. now owns 1,964 shares of the financial services provider’s stock valued at $106,000 after purchasing an additional 1,833 shares during the period. Finally, Pearl River Capital LLC increased its holdings in shares of Banner by 716.7% in the first quarter. Pearl River Capital LLC now owns 2,246 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 1,971 shares during the period. 84.09% of the stock is currently owned by institutional investors and hedge funds.

Banner stock opened at $52.21 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.43. Banner Co. has a 1-year low of $48.50 and a 1-year high of $67.11. The company has a market capitalization of $1.83 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 1.81 and a beta of 0.76.

Banner (NASDAQ:BANR) last posted its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.99 earnings per share 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 analysts’ expectations of $139.04 million. On average, equities analysts anticipate that Banner Co. will post 4.12 earnings per share for the current fiscal year.

A number of research analysts have recently issued reports on BANR shares. Zacks Investment Research lowered Banner from a “buy” rating to a “hold” rating in a report on Tuesday, March 26th. ValuEngine lowered Banner from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Raymond James set a $62.00 price target on Banner and gave the company a “buy” rating in a research note on Thursday, April 4th. Finally, BidaskClub downgraded Banner from a “sell” rating to a “strong sell” rating in a research note on Friday, March 22nd. Six equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $61.50.

In related news, VP Steven W. Rust sold 491 shares of Banner stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $53.39, for a total value of $26,214.49. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.51% of the stock is owned by insiders.

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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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Want to see what other hedge funds are holding BANR? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Banner Co. (NASDAQ:BANR).

Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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