Banner Co. (BANR) Shares Sold by Comerica Bank

Comerica Bank cut its stake in Banner Co. (NASDAQ:BANR) by 8.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,531 shares of the financial services provider’s stock after selling 2,883 shares during the quarter. Comerica Bank owned approximately 0.10% of Banner worth $1,721,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. UBS Group AG increased its stake in Banner by 93.8% during the first quarter. UBS Group AG now owns 6,685 shares of the financial services provider’s stock worth $371,000 after acquiring an additional 3,236 shares during the last quarter. Principal Financial Group Inc. increased its stake in Banner by 4.3% during the first quarter. Principal Financial Group Inc. now owns 277,324 shares of the financial services provider’s stock worth $15,388,000 after acquiring an additional 11,424 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in Banner by 200.0% during the second quarter. Nisa Investment Advisors LLC now owns 10,500 shares of the financial services provider’s stock worth $631,000 after acquiring an additional 7,000 shares during the last quarter. Alps Advisors Inc. acquired a new stake in Banner during the second quarter worth $461,000. Finally, Wells Fargo & Company MN increased its stake in Banner by 27.8% during the second quarter. Wells Fargo & Company MN now owns 171,179 shares of the financial services provider’s stock worth $10,292,000 after acquiring an additional 37,262 shares during the last quarter. 91.36% of the stock is currently owned by institutional investors.

In other news, VP Peter Conner sold 580 shares of the firm’s stock in a transaction on Friday, November 16th. The stock was sold at an average price of $60.32, for a total transaction of $34,985.60. Following the completion of the transaction, the vice president now directly owns 24,222 shares in the company, valued at $1,461,071.04. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 1.71% of the company’s stock.

Several equities research analysts have issued reports on the company. BidaskClub cut Banner from a “hold” rating to a “sell” rating in a research note on Saturday. Stephens reissued a “hold” rating and set a $68.00 target price on shares of Banner in a research note on Thursday, September 6th. Piper Jaffray Companies set a $62.00 target price on Banner and gave the stock a “hold” rating in a research note on Wednesday, October 31st. Finally, FIG Partners raised Banner from a “market perform” rating to an “outperform” rating in a research note on Friday, October 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $66.00.

BANR stock opened at $60.00 on Friday. Banner Co. has a 52-week low of $52.10 and a 52-week high of $67.11. The firm has a market cap of $1.91 billion, a price-to-earnings ratio of 20.07, a price-to-earnings-growth ratio of 2.12 and a beta of 0.93. The company has a quick ratio of 0.92, a current ratio of 0.93 and a debt-to-equity ratio of 0.34.

Banner (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.20 EPS for the quarter, topping the consensus estimate of $0.95 by $0.25. Banner had a return on equity of 9.74% and a net margin of 16.08%. The business had revenue of $129.49 million during the quarter, compared to analyst estimates of $125.29 million. As a group, equities research analysts anticipate that Banner Co. will post 4 earnings per share for the current fiscal year.

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Banner Company Profile

Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank, which 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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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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