Mutual of America Capital Management LLC Sells 3,710 Shares of Banner Co. (NASDAQ:BANR)

Mutual of America Capital Management LLC decreased its position in Banner Co. (NASDAQ:BANR) by 2.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 148,085 shares of the financial services provider’s stock after selling 3,710 shares during the quarter. Mutual of America Capital Management LLC owned 0.43% of Banner worth $8,820,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP increased its position in Banner by 1.6% in the second quarter. Dimensional Fund Advisors LP now owns 2,361,774 shares of the financial services provider’s stock worth $117,236,000 after purchasing an additional 37,780 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Banner by 79.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock worth $79,132,000 after buying an additional 588,591 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Banner by 18.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 795,929 shares of the financial services provider’s stock valued at $39,510,000 after buying an additional 123,903 shares in the last quarter. Westwood Holdings Group Inc. lifted its holdings in shares of Banner by 3.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 717,058 shares of the financial services provider’s stock valued at $34,419,000 after acquiring an additional 25,525 shares during the last quarter. Finally, American Century Companies Inc. grew its position in Banner by 22.0% in the second quarter. American Century Companies Inc. now owns 607,769 shares of the financial services provider’s stock worth $30,170,000 after acquiring an additional 109,457 shares in the last quarter. 87.33% of the stock is owned by hedge funds and other institutional investors.

Banner Trading Up 0.1 %

Shares of NASDAQ BANR opened at $73.52 on Monday. Banner Co. has a fifty-two week low of $42.00 and a fifty-two week high of $77.01. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 15.38 and a beta of 1.04. The business’s 50 day moving average price is $63.43 and its 200-day moving average price is $55.70.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.12. The business had revenue of $213.90 million during the quarter, compared to the consensus estimate of $152.95 million. Banner had a return on equity of 10.22% and a net margin of 20.28%. During the same period last year, the company earned $1.43 earnings per share. On average, sell-side analysts expect that Banner Co. will post 4.88 earnings per share for the current year.

Banner Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a yield of 2.61%. Banner’s dividend payout ratio is currently 40.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Raymond James upped their price objective on Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Piper Sandler set a $67.00 price target on Banner in a report on Thursday, October 17th. Finally, DA Davidson lifted their price objective on shares of Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $61.60.

Insider Transactions at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total value of $113,445.00. Following the completion of the sale, the vice president now owns 21,868 shares in the company, valued at approximately $1,653,876.84. The trade was a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.60% of the company’s stock.

Banner Company 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.