BBVA USA Bancshares Inc. Grows Position in Banner Co. (NASDAQ:BANR)

Posted by Devon Dixon on Nov 18th, 2019

BBVA USA Bancshares Inc. increased its position in shares of Banner Co. (NASDAQ:BANR) by 8.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,919 shares of the financial services provider’s stock after purchasing an additional 470 shares during the period. BBVA USA Bancshares Inc.’s holdings in Banner were worth $332,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its position in Banner by 1.6% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 12,404 shares of the financial services provider’s stock valued at $672,000 after buying an additional 200 shares during the period. Envestnet Asset Management Inc. boosted its position in Banner by 1.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 16,634 shares of the financial services provider’s stock valued at $901,000 after buying an additional 204 shares during the period. US Bancorp DE boosted its position in Banner by 6.4% in the 2nd quarter. US Bancorp DE now owns 3,642 shares of the financial services provider’s stock valued at $197,000 after buying an additional 218 shares during the period. Arizona State Retirement System boosted its position in Banner by 0.6% in the 2nd quarter. Arizona State Retirement System now owns 48,489 shares of the financial services provider’s stock valued at $2,626,000 after buying an additional 290 shares during the period. Finally, Context BH Capital Management LP boosted its position in Banner by 0.3% in the 2nd quarter. Context BH Capital Management LP now owns 104,836 shares of the financial services provider’s stock valued at $5,677,000 after buying an additional 300 shares during the period. 85.11% of the stock is owned by hedge funds and other institutional investors.

In other news, VP Cynthia D. Purcell sold 2,039 shares of the company’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $54.19, for a total value of $110,493.41. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director John R. Layman sold 500 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $55.17, for a total transaction of $27,585.00. The disclosure for this sale can be found here. Insiders sold a total of 3,039 shares of company stock worth $168,078 over the last ninety days. Insiders own 2.51% of the company’s stock.

Several research firms have issued reports on BANR. ValuEngine cut shares of Banner from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Zacks Investment Research upgraded shares of Banner from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. BidaskClub lowered shares of Banner from a “buy” rating to a “hold” rating in a report on Saturday, August 10th. Stephens restated a “hold” rating on shares of Banner in a report on Thursday, July 25th. Finally, Raymond James reduced their price target on shares of Banner from $64.00 to $62.00 and set an “outperform” rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $59.33.

Shares of Banner stock opened at $55.61 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.92 and a debt-to-equity ratio of 0.40. Banner Co. has a 12-month low of $48.50 and a 12-month high of $64.20. The firm has a market capitalization of $1.90 billion, a price-to-earnings ratio of 13.60 and a beta of 0.81. The firm’s 50 day simple moving average is $55.12 and its two-hundred day simple moving average is $54.45.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, October 23rd. The financial services provider reported $1.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.05 by $0.10. Banner had a net margin of 24.84% and a return on equity of 10.08%. The business had revenue of $137.49 million for the quarter, compared to analyst estimates of $136.12 million. On average, sell-side analysts predict that Banner Co. will post 4.25 EPS for the current fiscal year.

Banner Profile

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

BBVA USA Bancshares Inc. Grows Position in Banner Co. (NASDAQ:BANR)

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