Prudential Financial Inc. Sells 16,800 Shares of Banner Co. (NASDAQ:BANR)

Prudential Financial Inc. lessened its stake in shares of Banner Co. (NASDAQ:BANR) by 27.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,185 shares of the financial services provider’s stock after selling 16,800 shares during the period. Prudential Financial Inc. owned 0.13% of Banner worth $2,950,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Financial Life Planners bought a new position in shares of Banner in the fourth quarter worth $32,000. USA Financial Formulas bought a new position in Banner in the 4th quarter valued at about $32,000. Smartleaf Asset Management LLC raised its position in shares of Banner by 167.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 705 shares of the financial services provider’s stock valued at $47,000 after buying an additional 441 shares in the last quarter. KBC Group NV lifted its holdings in shares of Banner by 46.0% during the 4th quarter. KBC Group NV now owns 1,656 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 522 shares during the period. Finally, US Bancorp DE boosted its position in shares of Banner by 21.8% during the 4th quarter. US Bancorp DE now owns 1,749 shares of the financial services provider’s stock worth $117,000 after acquiring an additional 313 shares in the last quarter. 87.33% of the stock is owned by institutional investors and hedge funds.

Banner Trading Up 0.6 %

Shares of NASDAQ BANR opened at $63.89 on Thursday. The stock has a market cap of $2.20 billion, a P/E ratio of 13.09 and a beta of 1.07. The firm has a 50 day moving average price of $67.07 and a two-hundred day moving average price of $67.24. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.86. Banner Co. has a 52-week low of $42.00 and a 52-week high of $78.05.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.11. Banner had a return on equity of 10.03% and a net margin of 20.28%. As a group, equities analysts forecast that Banner Co. will post 5.23 EPS for the current year.

Banner Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend was Tuesday, February 4th. Banner’s dividend payout ratio (DPR) is presently 39.34%.

Analyst Ratings Changes

Several equities research analysts have weighed in on BANR shares. Stephens restated an “overweight” rating and set a $82.00 target price on shares of Banner in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods raised their price objective on Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Finally, DA Davidson boosted their target price on Banner from $73.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $74.20.

Banner Company Profile

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of 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.