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Mutual of America Capital Management LLC Sells 121,728 Shares of Banner Corporation (NASDAQ:BANR)

Banner logo with Finance background

Mutual of America Capital Management LLC lowered its position in shares of Banner Corporation (NASDAQ:BANR - Free Report) by 96.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,019 shares of the financial services provider's stock after selling 121,728 shares during the quarter. Mutual of America Capital Management LLC's holdings in Banner were worth $320,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Summit Investment Advisors Inc. boosted its position in Banner by 5.5% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,591 shares of the financial services provider's stock worth $240,000 after acquiring an additional 187 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Banner by 53.9% in the 1st quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock valued at $48,000 after acquiring an additional 264 shares during the period. USA Financial Formulas increased its stake in shares of Banner by 69.1% during the 1st quarter. USA Financial Formulas now owns 805 shares of the financial services provider's stock worth $51,000 after purchasing an additional 329 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of Banner by 9.5% in the 4th quarter. Bank of Montreal Can now owns 3,792 shares of the financial services provider's stock valued at $253,000 after purchasing an additional 330 shares during the period. Finally, KBC Group NV raised its holdings in shares of Banner by 20.1% in the 1st quarter. KBC Group NV now owns 1,989 shares of the financial services provider's stock valued at $127,000 after purchasing an additional 333 shares during the period. Institutional investors and hedge funds own 87.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BANR. Janney Montgomery Scott upgraded Banner from a "neutral" rating to a "buy" rating and set a $71.00 price target for the company in a report on Monday, April 21st. Keefe, Bruyette & Woods reduced their price target on Banner from $75.00 to $73.00 and set a "market perform" rating for the company in a report on Monday, April 21st. Stephens reiterated an "overweight" rating and set a $73.00 price target on shares of Banner in a report on Monday, April 21st. Raymond James Financial reaffirmed an "outperform" rating and set a $65.00 price target (down previously from $77.00) on shares of Banner in a report on Monday, April 21st. Finally, DA Davidson raised their price target on Banner from $67.00 to $72.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.17.

Get Our Latest Analysis on Banner

Banner Stock Performance

BANR stock traded up $1.59 during trading hours on Friday, hitting $65.06. 378,575 shares of the stock were exchanged, compared to its average volume of 226,094. The company has a 50-day simple moving average of $64.24 and a two-hundred day simple moving average of $64.76. The firm has a market capitalization of $2.25 billion, a P/E ratio of 12.39 and a beta of 0.89. Banner Corporation has a 12 month low of $51.14 and a 12 month high of $78.05. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.40.

Banner (NASDAQ:BANR - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.32 by $0.03. Banner had a net margin of 21.15% and a return on equity of 10.06%. The business had revenue of $162.98 million for the quarter, compared to the consensus estimate of $167.96 million. On average, analysts forecast that Banner Corporation will post 5.23 earnings per share for the current fiscal year.

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.92 annualized dividend and a yield of 2.95%. Banner's dividend payout ratio is presently 36.57%.

Banner Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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