Banner Corporation $BANR Holdings Trimmed by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in Banner Corporation (NASDAQ:BANR) by 63.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,315 shares of the financial services provider’s stock after selling 101,573 shares during the quarter. Thrivent Financial for Lutherans owned about 0.17% of Banner worth $3,819,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. Royal Bank of Canada raised its holdings in shares of Banner by 54.7% in the 1st quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider’s stock worth $1,412,000 after purchasing an additional 7,828 shares in the last quarter. AQR Capital Management LLC increased its holdings in shares of Banner by 19.6% in the first quarter. AQR Capital Management LLC now owns 29,714 shares of the financial services provider’s stock valued at $1,895,000 after buying an additional 4,877 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Banner by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,422 shares of the financial services provider’s stock valued at $1,302,000 after buying an additional 891 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Banner during the 1st quarter valued at $248,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Banner by 5.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,471 shares of the financial services provider’s stock worth $7,427,000 after acquiring an additional 6,059 shares in the last quarter. Institutional investors own 87.33% of the company’s stock.

Banner Stock Performance

BANR stock opened at $64.59 on Friday. The firm has a 50 day simple moving average of $64.34 and a 200 day simple moving average of $64.01. Banner Corporation has a 52 week low of $54.01 and a 52 week high of $71.07. The stock has a market cap of $2.20 billion, a P/E ratio of 11.45 and a beta of 0.90. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, January 21st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.09. Banner had a net margin of 22.26% and a return on equity of 10.46%. The company had revenue of $169.90 million during the quarter, compared to the consensus estimate of $173.23 million. Research analysts anticipate that Banner Corporation will post 5.23 earnings per share for the current fiscal year.

Banner Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Tuesday, February 3rd will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, February 3rd. This represents a $2.00 dividend on an annualized basis and a yield of 3.1%. Banner’s dividend payout ratio (DPR) is presently 35.46%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. DA Davidson cut their target price on Banner from $73.00 to $69.00 and set a “neutral” rating on the stock in a research report on Friday, October 17th. Piper Sandler reissued a “neutral” rating and issued a $70.00 price target on shares of Banner in a research note on Monday, December 1st. Raymond James Financial reaffirmed an “outperform” rating and set a $70.00 price objective (down from $72.00) on shares of Banner in a research note on Friday, October 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Banner in a report on Wednesday, January 21st. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Banner from $73.00 to $74.00 and gave the company a “market perform” rating in a report on Friday, October 17th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Banner currently has an average rating of “Hold” and a consensus target price of $71.17.

Banner Profile

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.