Marshall Wace LLP Takes Position in Banner Co. (NASDAQ:BANR)

Marshall Wace LLP bought a new position in Banner Co. (NASDAQ:BANR) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 15,325 shares of the financial services provider’s stock, valued at approximately $830,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Public Employees Retirement System of Ohio grew its stake in shares of Banner by 47.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 563 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 182 shares in the last quarter. Huntington National Bank grew its stake in shares of Banner by 1,669.4% in the 1st quarter. Huntington National Bank now owns 637 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 601 shares in the last quarter. Pearl River Capital LLC grew its stake in shares of Banner by 716.7% in the 1st quarter. Pearl River Capital LLC now owns 2,246 shares of the financial services provider’s stock worth $122,000 after acquiring an additional 1,971 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Banner in the 1st quarter worth $186,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Banner in the 1st quarter worth $225,000. Hedge funds and other institutional investors own 83.95% of the company’s stock.

Shares of NASDAQ:BANR traded up $0.55 during midday trading on Friday, reaching $54.05. The company had a trading volume of 118,340 shares, compared to its average volume of 129,025. The stock has a 50 day simple moving average of $53.11. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market capitalization of $1.90 billion, a PE ratio of 13.22, a P/E/G ratio of 1.86 and a beta of 0.77. Banner Co. has a 52-week low of $48.50 and a 52-week high of $67.11.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.99 earnings per share for the quarter, missing the Thomson Reuters’ 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 company had revenue of $134.23 million for the quarter, compared to the consensus estimate of $139.04 million. On average, equities research analysts forecast that Banner Co. will post 4.11 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 3.03%. The ex-dividend date of this dividend was Monday, July 8th. Banner’s dividend payout ratio is presently 40.10%.

Several analysts have recently issued reports on BANR shares. Zacks Investment Research upgraded shares of Golub Capital BDC from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a research note on Tuesday. Raymond James set a $60.00 price target on shares of Banner and gave the stock a “buy” rating in a report on Friday, May 3rd. DA Davidson boosted their price target on shares of Slack to $31.00 and gave the stock an “average” rating in a report on Tuesday, June 11th. ValuEngine downgraded shares of Zumiez from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Finally, BidaskClub downgraded shares of Xilinx from a “buy” rating to a “hold” rating in a report on Saturday, June 15th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $61.60.

In other news, VP Steven W. Rust sold 491 shares of the company’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $53.39, for a total transaction of $26,214.49. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.51% of the company’s stock.

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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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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