Capstone Asset Management Co. cut its position in shares of Banner Co. (NASDAQ:BANR) by 11.1% during the second quarter, Holdings Channel reports. The fund owned 4,976 shares of the financial services provider’s stock after selling 620 shares during the period. Capstone Asset Management Co.’s holdings in Banner were worth $281,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Stifel Financial Corp boosted its position in shares of Banner by 21.3% in the first quarter. Stifel Financial Corp now owns 63,242 shares of the financial services provider’s stock worth $3,521,000 after buying an additional 11,100 shares during the last quarter. State Street Corp boosted its position in shares of Banner by 1.8% in the first quarter. State Street Corp now owns 988,859 shares of the financial services provider’s stock worth $55,021,000 after buying an additional 17,021 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Banner by 2.6% in the first quarter. Principal Financial Group Inc. now owns 202,923 shares of the financial services provider’s stock worth $11,291,000 after buying an additional 5,106 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Banner by 42.7% in the first quarter. Nuveen Asset Management LLC now owns 555,726 shares of the financial services provider’s stock worth $30,921,000 after buying an additional 166,373 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its position in shares of Banner by 90.9% in the first quarter. Russell Investments Group Ltd. now owns 71,007 shares of the financial services provider’s stock worth $3,950,000 after buying an additional 33,807 shares during the last quarter. 88.50% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Banner Co. (NASDAQ:BANR) traded up 0.44% during midday trading on Tuesday, reaching $56.53. 36,921 shares of the company’s stock traded hands. The firm has a market cap of $1.88 billion, a PE ratio of 19.69 and a beta of 1.05. The company has a 50 day moving average of $56.53 and a 200 day moving average of $56.11. Banner Co. has a 52-week low of $42.12 and a 52-week high of $60.97.

Banner (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Banner had a net margin of 20.83% and a return on equity of 7.75%. The firm had revenue of $122.18 million for the quarter, compared to the consensus estimate of $119.46 million. On average, equities analysts predict that Banner Co. will post $3.09 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th were issued a dividend of $1.25 per share. The ex-dividend date of this dividend was Thursday, July 6th. This represents a $5.00 annualized dividend and a yield of 8.88%. Banner’s payout ratio is 34.72%.

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Several equities research analysts have weighed in on the stock. BidaskClub upgraded shares of Banner from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Zacks Investment Research lowered shares of Banner from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Finally, Piper Jaffray Companies cut their target price on shares of Banner from $64.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, April 17th. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Banner has an average rating of “Hold” and a consensus target price of $55.75.

In other Banner news, Director Gary Sirmon sold 3,333 shares of the company’s stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $55.46, for a total transaction of $184,848.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 7,005 shares of company stock worth $392,450. Corporate insiders own 1.71% of the company’s stock.

Banner Company Profile

Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.

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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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