United Services Automobile Association reduced its stake in Banner Co. (NASDAQ:BANR) by 95.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,420 shares of the financial services provider’s stock after selling 118,258 shares during the quarter. United Services Automobile Association’s holdings in Banner were worth $326,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the business. Itau Unibanco Holding S.A. purchased a new stake in shares of Banner in the second quarter valued at approximately $103,000. Ramsey Quantitative Systems purchased a new stake in shares of Banner in the second quarter valued at approximately $325,000. Xact Kapitalforvaltning AB boosted its stake in shares of Banner by 60.9% in the first quarter. Xact Kapitalforvaltning AB now owns 6,344 shares of the financial services provider’s stock valued at $352,000 after buying an additional 2,400 shares in the last quarter. UBS Group AG boosted its stake in shares of Banner by 93.8% in the first quarter. UBS Group AG now owns 6,685 shares of the financial services provider’s stock valued at $371,000 after buying an additional 3,236 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new stake in shares of Banner in the first quarter valued at approximately $377,000. Institutional investors own 91.52% of the company’s stock.
A number of research firms recently weighed in on BANR. FIG Partners upgraded Banner from a “market perform” rating to an “outperform” rating in a research note on Friday. BidaskClub cut Banner from a “sell” rating to a “strong sell” rating in a report on Wednesday. ValuEngine cut Banner from a “hold” rating to a “sell” rating in a report on Wednesday. Stephens reaffirmed a “hold” rating and set a $68.00 price objective on shares of Banner in a report on Thursday, September 6th. Finally, Sandler O’Neill reaffirmed a “buy” rating and set a $70.00 price objective on shares of Banner in a report on Monday, July 30th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $65.20.
Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.25. The firm had revenue of $129.49 million during the quarter, compared to analysts’ expectations of $125.29 million. Banner had a return on equity of 9.74% and a net margin of 16.08%. As a group, research analysts predict that Banner Co. will post 3.75 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Investors of record on Wednesday, October 10th were issued a dividend of $0.38 per share. The ex-dividend date of this dividend was Tuesday, October 9th. This is a boost from Banner’s previous quarterly dividend of $0.35. This represents a $1.52 annualized dividend and a yield of 2.64%. Banner’s payout ratio is currently 50.84%.
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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