Banner Co. (NASDAQ:BANR) Shares Sold by Kestrel Investment Management Corp

Kestrel Investment Management Corp reduced its position in Banner Co. (NASDAQ:BANRGet Rating) by 5.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,350 shares of the financial services provider’s stock after selling 5,600 shares during the period. Banner makes up approximately 3.3% of Kestrel Investment Management Corp’s holdings, making the stock its 12th largest holding. Kestrel Investment Management Corp owned approximately 0.30% of Banner worth $5,697,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Nordea Investment Management AB increased its holdings in Banner by 23.1% in the 2nd quarter. Nordea Investment Management AB now owns 143,054 shares of the financial services provider’s stock valued at $7,911,000 after purchasing an additional 26,861 shares in the last quarter. Quantbot Technologies LP boosted its holdings in Banner by 831.3% in the 2nd quarter. Quantbot Technologies LP now owns 1,639 shares of the financial services provider’s stock worth $92,000 after acquiring an additional 1,463 shares during the period. Renaissance Technologies LLC acquired a new stake in Banner in the second quarter valued at approximately $2,029,000. Northern Trust Corp grew its holdings in Banner by 1.4% during the 2nd quarter. Northern Trust Corp now owns 442,900 shares of the financial services provider’s stock valued at $24,895,000 after purchasing an additional 5,968 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in Banner by 1.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 14,703 shares of the financial services provider’s stock worth $826,000 after buying an additional 191 shares during the period. Institutional investors and hedge funds own 85.64% of the company’s stock.

Banner Price Performance

BANR stock traded up $0.30 during trading on Thursday, hitting $70.92. The company had a trading volume of 660 shares, compared to its average volume of 171,479. The firm has a market capitalization of $2.42 billion, a price-to-earnings ratio of 12.82 and a beta of 1.03. The company has a current ratio of 0.76, a quick ratio of 0.75 and a debt-to-equity ratio of 0.29. The business has a 50 day moving average of $71.00 and a 200 day moving average of $65.24. Banner Co. has a fifty-two week low of $52.35 and a fifty-two week high of $75.72.

Banner Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 10th. Shareholders of record on Monday, October 31st were given a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 2.48%. The ex-dividend date was Friday, October 28th. Banner’s dividend payout ratio (DPR) is presently 31.83%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BANR shares. DA Davidson lifted their target price on Banner to $70.00 in a research note on Thursday, October 27th. Raymond James downgraded Banner from a “strong-buy” rating to an “outperform” rating and upped their price objective for the stock from $68.00 to $72.00 in a research note on Friday, October 21st. Finally, assumed coverage on Banner in a research note on Wednesday, October 12th. They issued a “hold” rating on the stock.

About Banner

(Get Rating)

Banner Corporation operates as the bank holding company for Banner Bank that provide 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.

Further Reading

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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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