Fisher Asset Management LLC Sells 1,996 Shares of Banner Co. (NASDAQ:BANR)

Fisher Asset Management LLC reduced its position in Banner Co. (NASDAQ:BANR) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 283,435 shares of the financial services provider’s stock after selling 1,996 shares during the period. Fisher Asset Management LLC’s holdings in Banner were worth $16,881,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of Banner by 1.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,361,774 shares of the financial services provider’s stock valued at $117,236,000 after purchasing an additional 37,780 shares during the period. Charles Schwab Investment Management Inc. grew its position in Banner by 3.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,330,064 shares of the financial services provider’s stock valued at $79,219,000 after buying an additional 43,398 shares during the period. Victory Capital Management Inc. grew its position in Banner by 79.5% during the third quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock valued at $79,132,000 after buying an additional 588,591 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Banner by 18.4% during the second quarter. The Manufacturers Life Insurance Company now owns 795,929 shares of the financial services provider’s stock valued at $39,510,000 after buying an additional 123,903 shares during the last quarter. Finally, Westwood Holdings Group Inc. raised its position in Banner by 3.7% in the first quarter. Westwood Holdings Group Inc. now owns 717,058 shares of the financial services provider’s stock worth $34,419,000 after acquiring an additional 25,525 shares during the period. Institutional investors own 87.33% of the company’s stock.

Banner Stock Performance

NASDAQ BANR opened at $75.27 on Thursday. The business has a 50-day moving average price of $66.10 and a 200-day moving average price of $57.20. The firm has a market cap of $2.59 billion, a price-to-earnings ratio of 15.75 and a beta of 1.04. Banner Co. has a twelve month low of $42.00 and a twelve month high of $78.05. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.12. Banner had a net margin of 20.28% and a return on equity of 10.22%. The business had revenue of $213.90 million during the quarter, compared to analyst estimates of $152.95 million. During the same period last year, the firm posted $1.43 EPS. As a group, equities research analysts predict that Banner Co. will post 4.88 EPS for the current fiscal year.

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Tuesday, November 5th. Banner’s dividend payout ratio (DPR) is presently 40.17%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on BANR. Raymond James upped their price objective on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. DA Davidson raised their price objective on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Piper Sandler set a $67.00 price objective on Banner in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, Banner presently has a consensus rating of “Hold” and a consensus price target of $61.60.

Insider Activity

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total transaction of $113,445.00. Following the completion of the transaction, the vice president now owns 21,868 shares in the company, valued at $1,653,876.84. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.60% of the company’s stock.

Banner Profile

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, 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.