The Manufacturers Life Insurance Company Buys 70,143 Shares of Banner Co. (NASDAQ:BANR)

The Manufacturers Life Insurance Company raised its stake in Banner Co. (NASDAQ:BANRFree Report) by 9.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 820,511 shares of the financial services provider’s stock after buying an additional 70,143 shares during the quarter. The Manufacturers Life Insurance Company owned about 2.39% of Banner worth $43,947,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of BANR. Victory Capital Management Inc. lifted its stake in Banner by 950.6% in the third quarter. Victory Capital Management Inc. now owns 184,833 shares of the financial services provider’s stock valued at $7,833,000 after buying an additional 167,240 shares in the last quarter. Swiss National Bank lifted its stake in Banner by 1.3% in the third quarter. Swiss National Bank now owns 75,500 shares of the financial services provider’s stock valued at $3,200,000 after buying an additional 1,000 shares in the last quarter. Sequoia Financial Advisors LLC lifted its stake in Banner by 4.7% in the third quarter. Sequoia Financial Advisors LLC now owns 8,322 shares of the financial services provider’s stock valued at $353,000 after buying an additional 373 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Banner by 4.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 966,979 shares of the financial services provider’s stock worth $40,981,000 after purchasing an additional 42,871 shares in the last quarter. Finally, Mutual of America Capital Management LLC lifted its position in shares of Banner by 1.9% in the third quarter. Mutual of America Capital Management LLC now owns 143,387 shares of the financial services provider’s stock worth $6,077,000 after purchasing an additional 2,720 shares in the last quarter. Institutional investors own 87.33% of the company’s stock.

Banner Price Performance

NASDAQ:BANR opened at $45.87 on Thursday. Banner Co. has a one year low of $39.31 and a one year high of $55.66. The company has a market cap of $1.58 billion, a P/E ratio of 9.54 and a beta of 1.06. The firm’s fifty day moving average price is $45.80 and its two-hundred day moving average price is $47.14. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.82.

Banner (NASDAQ:BANRGet Free Report) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.22 EPS for the quarter, beating the consensus estimate of $1.17 by $0.05. Banner had a net margin of 21.62% and a return on equity of 11.47%. The firm had revenue of $144.55 million for the quarter, compared to the consensus estimate of $150.67 million. Equities analysts expect that Banner Co. will post 4.72 earnings per share for the current year.

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, May 10th. Investors of record on Tuesday, April 30th were paid a $0.48 dividend. The ex-dividend date of this dividend was Monday, April 29th. This represents a $1.92 annualized dividend and a dividend yield of 4.19%. Banner’s dividend payout ratio (DPR) is presently 39.92%.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Piper Sandler cut their price objective on shares of Banner from $54.00 to $51.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. StockNews.com lowered shares of Banner from a “hold” rating to a “sell” rating in a research report on Thursday, May 30th. Stephens dropped their price target on shares of Banner from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Finally, DA Davidson dropped their price target on shares of Banner from $50.00 to $47.00 and set a “neutral” rating on the stock in a research report on Friday, April 19th. 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $51.20.

Check Out Our Latest Report on BANR

About Banner

(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.

See Also

Institutional Ownership by Quarter for Banner (NASDAQ:BANR)

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