Skandinaviska Enskilda Banken AB publ trimmed its position in shares of Banner Co. (NASDAQ:BANR – Get Rating) by 83.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,700 shares of the financial services provider’s stock after selling 23,100 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Banner were worth $278,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Credit Suisse AG increased its stake in Banner by 14.9% in the third quarter. Credit Suisse AG now owns 36,773 shares of the financial services provider’s stock worth $2,172,000 after purchasing an additional 4,780 shares during the period. Quadrant Capital Group LLC grew its holdings in shares of Banner by 350.5% in the third quarter. Quadrant Capital Group LLC now owns 419 shares of the financial services provider’s stock worth $25,000 after purchasing an additional 326 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in Banner by 28.7% in the 3rd quarter. Tower Research Capital LLC TRC now owns 6,709 shares of the financial services provider’s stock worth $396,000 after buying an additional 1,498 shares during the period. UBS Group AG lifted its holdings in Banner by 1,332.8% during the 3rd quarter. UBS Group AG now owns 10,230 shares of the financial services provider’s stock valued at $604,000 after buying an additional 9,516 shares in the last quarter. Finally, Congress Asset Management Co. MA boosted its position in Banner by 1.2% in the 3rd quarter. Congress Asset Management Co. MA now owns 23,869 shares of the financial services provider’s stock valued at $1,410,000 after buying an additional 288 shares during the period. 85.27% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
BANR has been the subject of a number of research reports. StockNews.com upgraded Banner from a “sell” rating to a “hold” rating in a report on Thursday, January 26th. Raymond James decreased their target price on Banner from $72.00 to $68.00 and set an “outperform” rating for the company in a research report on Monday, January 23rd.
Banner Trading Up 0.3 %
Banner Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, February 13th. Shareholders of record on Thursday, February 2nd were issued a $0.48 dividend. The ex-dividend date was Wednesday, February 1st. This is an increase from Banner’s previous quarterly dividend of $0.44. This represents a $1.92 dividend on an annualized basis and a yield of 3.01%. Banner’s payout ratio is currently 33.86%.
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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