Banner Co. (NASDAQ:BANR) was the recipient of a significant decline in short interest during the month of October. As of October 15th, there was short interest totalling 469,900 shares, a decline of 25.9% from the September 15th total of 634,300 shares. Currently, 1.4% of the company’s stock are short sold. Based on an average daily volume of 177,500 shares, the days-to-cover ratio is presently 2.6 days.
In other Banner news, Director John R. Layman sold 500 shares of Banner stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $60.00, for a total transaction of $30,000.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Cynthia D. Purcell sold 2,039 shares of Banner stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $54.19, for a total value of $110,493.41. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,039 shares of company stock valued at $168,078. 2.51% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of BANR. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Banner by 19.5% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,185 shares of the financial services provider’s stock valued at $123,000 after acquiring an additional 356 shares in the last quarter. US Bancorp DE lifted its position in shares of Banner by 6.4% in the second quarter. US Bancorp DE now owns 3,642 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 218 shares in the last quarter. Bank of Montreal Can lifted its position in shares of Banner by 205.8% in the second quarter. Bank of Montreal Can now owns 4,186 shares of the financial services provider’s stock valued at $227,000 after acquiring an additional 2,817 shares in the last quarter. Bbva USA Bancshares Inc. lifted its position in shares of Banner by 20.7% in the second quarter. Bbva USA Bancshares Inc. now owns 5,449 shares of the financial services provider’s stock valued at $295,000 after acquiring an additional 934 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new stake in shares of Banner in the second quarter valued at $306,000. Institutional investors own 83.73% of the company’s stock.
BANR has been the topic of a number of recent research reports. Stephens reissued a “hold” rating on shares of Banner in a report on Thursday, July 25th. Zacks Investment Research lowered Banner from a “hold” rating to a “sell” rating in a report on Tuesday, October 22nd. BidaskClub lowered Banner from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. ValuEngine lowered Banner from a “hold” rating to a “sell” rating in a report on Friday. Finally, Raymond James dropped their price objective on Banner from $64.00 to $62.00 and set an “outperform” rating on the stock in a report on Thursday, August 29th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $60.00.
BANR traded up $0.48 during trading on Monday, reaching $56.42. 131,835 shares of the stock were exchanged, compared to its average volume of 178,604. The business’s 50 day moving average price is $55.29 and its two-hundred day moving average price is $54.36. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $1.90 billion, a price-to-earnings ratio of 13.80, a P/E/G ratio of 1.85 and a beta of 0.84. Banner has a 1 year low of $48.50 and a 1 year high of $64.20.
Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, October 23rd. The financial services provider reported $1.15 EPS for the quarter, topping the Zacks’ consensus estimate of $1.05 by $0.10. The company had revenue of $137.49 million for the quarter, compared to the consensus estimate of $136.12 million. Banner had a return on equity of 10.08% and a net margin of 24.84%. On average, analysts anticipate that Banner will post 4.27 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 18th. Shareholders of record on Wednesday, October 9th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $1.64 dividend on an annualized basis and a yield of 2.91%. Banner’s payout ratio is 40.10%.
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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