Merriman Wealth Management LLC Sells 1,100 Shares of Banner Co. (NASDAQ:BANR)

Merriman Wealth Management LLC lowered its holdings in shares of Banner Co. (NASDAQ:BANR) by 3.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 35,436 shares of the financial services provider’s stock after selling 1,100 shares during the period. Merriman Wealth Management LLC owned about 0.10% of Banner worth $1,921,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the stock. Commonwealth Equity Services LLC grew its holdings in Banner by 66.6% in the 1st quarter. Commonwealth Equity Services LLC now owns 21,971 shares of the financial services provider’s stock worth $1,171,000 after acquiring an additional 8,782 shares during the last quarter. IndexIQ Advisors LLC grew its holdings in Banner by 15.8% in the 1st quarter. IndexIQ Advisors LLC now owns 7,338 shares of the financial services provider’s stock worth $391,000 after acquiring an additional 999 shares during the last quarter. Swiss National Bank grew its holdings in Banner by 0.9% in the 1st quarter. Swiss National Bank now owns 80,400 shares of the financial services provider’s stock worth $4,288,000 after acquiring an additional 700 shares during the last quarter. BNP Paribas Arbitrage SA grew its holdings in Banner by 152.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 17,745 shares of the financial services provider’s stock worth $946,000 after acquiring an additional 10,707 shares during the last quarter. Finally, Diversified Trust Co grew its holdings in Banner by 5.0% in the 1st quarter. Diversified Trust Co now owns 6,765 shares of the financial services provider’s stock worth $361,000 after acquiring an additional 324 shares during the last quarter. 83.59% of the stock is currently owned by institutional investors.

BANR has been the topic of a number of recent analyst reports. Raymond James cut their price target on shares of Banner from $66.00 to $63.00 and set a “strong-buy” rating on the stock in a report on Friday, July 23rd. Zacks Investment Research cut shares of Banner from a “buy” rating to a “hold” rating in a research report on Monday, August 30th. Finally, DA Davidson cut shares of Banner from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $63.00 to $60.00 in a research report on Tuesday, September 7th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $57.40.

NASDAQ BANR traded up $0.78 during trading hours on Wednesday, reaching $51.86. 1,657 shares of the company’s stock traded hands, compared to its average volume of 166,351. Banner Co. has a 52-week low of $30.05 and a 52-week high of $60.42. The firm has a market cap of $1.79 billion, a PE ratio of 10.36 and a beta of 1.16. The firm has a 50-day simple moving average of $54.01 and a 200 day simple moving average of $55.37. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.82 and a quick ratio of 0.82.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Tuesday, July 20th. The financial services provider reported $1.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.45. Banner had a net margin of 28.76% and a return on equity of 10.68%. The company had revenue of $149.89 million during the quarter, compared to analysts’ expectations of $142.75 million. Sell-side analysts forecast that Banner Co. will post 5.11 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Tuesday, August 3rd were given a dividend of $0.41 per share. The ex-dividend date was Monday, August 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 3.16%. Banner’s dividend payout ratio (DPR) is currently 48.66%.

About Banner

Banner Corp. operates as a holding company for Banner Bank. It offers deposit services, business, commercial real estate, construction, residential, agricultural and consumer loans. It also provides commercial banking services and financial products to individuals, businesses and public sector entities.

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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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