Mutual of America Capital Management LLC Cuts Stock Position in Banner Corporation (NASDAQ:BANR)

Key Points

• Mutual of America Capital Management LLC has significantly decreased its holdings in Banner Corporation by 96.0%, now owning only 5,019 shares, valued at $320,000.
• Several other institutional investors, including Wells Fargo and Envestnet Asset Management, have increased their stakes in Banner Corporation, reflecting a trend of mixed investor sentiment.
• Banner Corporation announced a quarterly dividend of $0.48 per share, translating to an annualized yield of 3.0%, with a low payout ratio of 36.57%.

Mutual of America Capital Management LLC lessened its position in Banner Corporation (NASDAQ:BANR - Free Report) by 96.0% in the 1st quarter, according to its most recent 13F filing with the Securities and 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.

Several other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its holdings in shares of Banner by 4.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,439,174 shares of the financial services provider's stock worth $91,776,000 after acquiring an additional 59,653 shares during the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Banner by 122.8% in the 1st quarter. Westwood Holdings Group Inc. now owns 1,142,987 shares of the financial services provider's stock worth $72,888,000 after acquiring an additional 630,004 shares during the last quarter. US Bancorp DE lifted its holdings in Banner by 13.1% during the 1st quarter. US Bancorp DE now owns 1,978 shares of the financial services provider's stock valued at $126,000 after buying an additional 229 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Banner by 17.7% during the 1st quarter. Natixis Advisors LLC now owns 13,505 shares of the financial services provider's stock valued at $861,000 after buying an additional 2,031 shares in the last quarter. Finally, XTX Topco Ltd bought a new stake in Banner during the 1st quarter valued at about $795,000. Institutional investors own 87.33% of the company's stock.

Banner Stock Down 2.7%

NASDAQ BANR traded down $1.80 during trading on Friday, reaching $63.72. 260,986 shares of the company's stock traded hands, compared to its average volume of 223,379. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $2.20 billion, a price-to-earnings ratio of 12.14 and a beta of 0.93. The company's 50 day simple moving average is $64.57 and its two-hundred day simple moving average is $64.23. Banner Corporation has a 12-month low of $53.78 and a 12-month high of $78.05.

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

Banner Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.92 dividend on an annualized basis and a yield of 3.0%. Banner's dividend payout ratio (DPR) is 36.57%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. DA Davidson lifted their price objective on shares of Banner from $67.00 to $72.00 and gave the company a "neutral" rating in a report on Friday, July 18th. Keefe, Bruyette & Woods decreased their price objective on shares of Banner from $75.00 to $73.00 and set a "market perform" rating for the company in a report on Monday, April 21st. Janney Montgomery Scott upgraded shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 price objective for the company in a report on Monday, April 21st. Stephens reiterated an "overweight" rating and set a $73.00 price objective on shares of Banner in a report on Monday, April 21st. Finally, Wall Street Zen lowered shares of Banner from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Banner presently has a consensus rating of "Hold" and an average target price of $70.17.

Banner Profile

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.