Banner Corporation $BANR Stock Position Lowered by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company reduced its Banner Corporation stake by 1.6%, selling 15,072 shares and retaining 905,453 shares valued at approximately $54.9 million. Institutional investors collectively own 87.33% of the company.
• Banner recently reported quarterly EPS of $1.44, slightly below the $1.46 consensus estimate, while revenue of $172.11 million also missed expectations. Shares opened at $69.96, with the stock down 0.8% and analysts maintaining an overall “Hold” rating.
• Banner declared a quarterly dividend of $0.52 per share, equivalent to $2.08 annually and a 3.0% yield. The dividend will be paid August 14 to shareholders of record as of August 4.

The Manufacturers Life Insurance Company decreased its position in Banner Corporation (NASDAQ:BANR - Free Report) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 905,453 shares of the financial services provider's stock after selling 15,072 shares during the quarter. The Manufacturers Life Insurance Company owned about 2.67% of Banner worth $54,943,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Quantinno Capital Management LP grew its holdings in Banner by 64.1% during the first quarter. Quantinno Capital Management LP now owns 9,369 shares of the financial services provider's stock worth $569,000 after acquiring an additional 3,660 shares during the period. North Reef Capital Management LP bought a new stake in Banner in the first quarter worth about $11,860,000. Entropy Technologies LP lifted its holdings in Banner by 400.6% in the 1st quarter. Entropy Technologies LP now owns 23,054 shares of the financial services provider's stock valued at $1,399,000 after acquiring an additional 18,449 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Banner by 9.9% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 18,862 shares of the financial services provider's stock valued at $1,145,000 after acquiring an additional 1,693 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in shares of Banner by 71.9% during the 1st quarter. First Trust Advisors LP now owns 69,297 shares of the financial services provider's stock valued at $4,205,000 after purchasing an additional 28,987 shares in the last quarter. Institutional investors own 87.33% of the company's stock.

Banner Trading Down 0.8%

Shares of BANR opened at $69.96 on Thursday. The business's 50-day moving average price is $67.00 and its 200 day moving average price is $64.31. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $2.38 billion, a P/E ratio of 11.54 and a beta of 0.83. Banner Corporation has a 1-year low of $57.05 and a 1-year high of $72.65.

Banner (NASDAQ:BANR - Get Free Report) last announced its earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.02). The firm had revenue of $172.11 million during the quarter, compared to analyst estimates of $174.54 million. Banner had a return on equity of 10.72% and a net margin of 23.55%. Analysts expect that Banner Corporation will post 6.2 earnings per share for the current year.

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th will be issued a $0.52 dividend. The ex-dividend date is Tuesday, August 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.0%. Banner's dividend payout ratio is presently 34.32%.

Wall Street Analyst Weigh In

A number of research firms recently commented on BANR. Piper Sandler boosted their target price on shares of Banner from $63.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, April 27th. Weiss Ratings upgraded shares of Banner from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, June 18th. Keefe, Bruyette & Woods lifted their price target on shares of Banner from $75.00 to $78.00 and gave the stock a "market perform" rating in a research report on Monday. DA Davidson lifted their price target on shares of Banner from $72.00 to $76.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Benchmark assumed coverage on Banner in a report on Wednesday, July 8th. They issued a "hold" rating on the stock. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $72.75.

About Banner

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.

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