Phocas Financial Corp. Reduces Stock Position in Banner Co. (NASDAQ:BANR)

Phocas Financial Corp. decreased its holdings in shares of Banner Co. (NASDAQ:BANR) by 85.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,786 shares of the financial services provider’s stock after selling 101,001 shares during the quarter. Phocas Financial Corp.’s holdings in Banner were worth $1,188,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its position in shares of Banner by 79.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock worth $79,132,000 after purchasing an additional 588,591 shares during the period. Wellington Management Group LLP grew its position in Banner by 12.2% during the third quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock valued at $106,334,000 after buying an additional 193,434 shares during the period. FMR LLC lifted its stake in shares of Banner by 395.4% during the 3rd quarter. FMR LLC now owns 166,120 shares of the financial services provider’s stock valued at $9,894,000 after buying an additional 132,586 shares in the last quarter. Eagle Asset Management Inc. purchased a new stake in Banner in the 3rd quarter worth $6,477,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Banner by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,330,064 shares of the financial services provider’s stock worth $79,219,000 after buying an additional 43,398 shares during the last quarter. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Banner Price Performance

Shares of NASDAQ:BANR opened at $68.22 on Wednesday. The company has a market cap of $2.35 billion, a PE ratio of 13.98 and a beta of 1.09. The firm has a 50-day simple moving average of $68.47 and a 200 day simple moving average of $65.92. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. Banner Co. has a fifty-two week low of $42.00 and a fifty-two week high of $78.05.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.11. Banner had a net margin of 20.28% and a return on equity of 10.03%. On average, sell-side analysts anticipate that Banner Co. will post 5.23 EPS for the current year.

Banner Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Shareholders of record on Tuesday, February 4th were given a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, February 4th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.81%. Banner’s dividend payout ratio is currently 39.34%.

Analysts Set New Price Targets

Several research firms have commented on BANR. Stephens restated an “overweight” rating and set a $82.00 price objective on shares of Banner in a report on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, DA Davidson lifted their price objective on Banner from $73.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Banner presently has an average rating of “Hold” and an average price target of $74.20.

Banner Company 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.