UBS Asset Management Americas Inc. reduced its position in shares of Banner Corporation (NASDAQ:BANR) by 39.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,716 shares of the financial services provider’s stock after selling 12,240 shares during the period. UBS Asset Management Americas Inc.’s holdings in Banner Corporation were worth $1,041,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of BANR. Norges Bank bought a new stake in Banner Corporation during the fourth quarter worth about $12,175,000. Boston Partners bought a new stake in Banner Corporation during the first quarter worth about $9,515,000. Bank of New York Mellon Corp raised its stake in Banner Corporation by 7.1% in the first quarter. Bank of New York Mellon Corp now owns 2,276,421 shares of the financial services provider’s stock worth $126,660,000 after buying an additional 150,495 shares during the period. FFL Partners LLC bought a new stake in Banner Corporation during the fourth quarter worth about $5,448,000. Finally, Rice Hall James & Associates LLC raised its stake in Banner Corporation by 30.2% in the first quarter. Rice Hall James & Associates LLC now owns 298,973 shares of the financial services provider’s stock worth $16,635,000 after buying an additional 69,264 shares during the period. Institutional investors and hedge funds own 88.64% of the company’s stock.

Banner Corporation (NASDAQ BANR) opened at 56.02 on Tuesday. Banner Corporation has a 1-year low of $39.62 and a 1-year high of $60.97. The firm has a market capitalization of $1.86 billion, a PE ratio of 20.60 and a beta of 1.04. The firm’s 50-day moving average price is $54.87 and its 200-day moving average price is $55.93.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 18th. Stockholders of record on Monday, July 10th will be paid a dividend of $1.25 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $5.00 annualized dividend and a dividend yield of 8.93%. Banner Corporation’s dividend payout ratio is presently 36.76%.

Banner Corporation declared that its board has authorized a stock buyback plan on Friday, March 31st that allows the company to buyback 1,660,000 outstanding shares. This buyback authorization allows the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

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Several research analysts recently weighed in on BANR shares. Zacks Investment Research upgraded Banner Corporation from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a research report on Wednesday, April 5th. Piper Jaffray Companies lowered their price objective on Banner Corporation from $64.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, April 17th. Finally, BidaskClub lowered Banner Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 21st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $54.20.

In other news, Director Gary Sirmon sold 3,333 shares of the business’s stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $55.00, for a total transaction of $183,315.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Douglas M. Bennett sold 889 shares of the business’s stock in a transaction on Thursday, April 27th. The shares were sold at an average price of $57.00, for a total transaction of $50,673.00. The disclosure for this sale can be found here. Insiders have sold a total of 9,694 shares of company stock valued at $544,388 over the last three months. Corporate insiders own 1.71% of the company’s stock.

About Banner Corporation

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 Corporation (NASDAQ:BANR)

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