Thrivent Financial for Lutherans Sells 101,573 Shares of Banner Corporation $BANR

Thrivent Financial for Lutherans lowered its position in Banner Corporation (NASDAQ:BANR) by 63.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 58,315 shares of the financial services provider’s stock after selling 101,573 shares during the period. Thrivent Financial for Lutherans’ holdings in Banner were worth $3,819,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in BANR. Royal Bank of Canada grew its position in Banner by 54.7% in the first quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider’s stock worth $1,412,000 after acquiring an additional 7,828 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Banner by 19.6% during the 1st quarter. AQR Capital Management LLC now owns 29,714 shares of the financial services provider’s stock valued at $1,895,000 after purchasing an additional 4,877 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Banner by 4.6% in the 1st 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 purchasing an additional 891 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new stake in Banner in the first quarter worth $248,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Banner by 5.5% during the first 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 buying an additional 6,059 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Banner Stock Up 1.2%

BANR opened at $64.59 on Friday. Banner Corporation has a 1-year low of $54.01 and a 1-year high of $71.07. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.20 billion, a price-to-earnings ratio of 11.45 and a beta of 0.90. The business has a 50 day moving average of $64.34 and a 200-day moving average of $64.01.

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

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders 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 dividend yield of 3.1%. Banner’s dividend payout ratio is currently 35.46%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Banner in a report on Wednesday, January 21st. Piper Sandler reissued a “neutral” rating and issued a $70.00 price objective on shares of Banner in a research note on Monday, December 1st. Wall Street Zen lowered Banner from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Keefe, Bruyette & Woods increased their price target on Banner from $73.00 to $74.00 and gave the company a “market perform” rating in a report on Friday, October 17th. Finally, Raymond James Financial reissued an “outperform” rating and issued a $70.00 price target (down previously from $72.00) on shares of Banner in a research report on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Banner has a consensus rating of “Hold” and a consensus price target of $71.17.

About Banner

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.