Amalgamated Bank Reduces Stock Holdings in Banner Co. (NASDAQ:BANR)

Amalgamated Bank reduced its position in shares of Banner Co. (NASDAQ:BANR) by 3.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,144 shares of the financial services provider’s stock after selling 385 shares during the quarter. Amalgamated Bank’s holdings in Banner were worth $604,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP raised 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 valued at $117,236,000 after purchasing an additional 37,780 shares during the period. The Manufacturers Life Insurance Company boosted 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 worth $39,510,000 after purchasing an additional 123,903 shares during the period. Victory Capital Management Inc. lifted its stake in Banner by 0.6% during the second quarter. Victory Capital Management Inc. now owns 740,025 shares of the financial services provider’s stock worth $36,735,000 after purchasing an additional 4,323 shares in the last quarter. Westwood Holdings Group Inc. grew its position in 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 in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Banner by 22.0% in the second quarter. American Century Companies Inc. now owns 607,769 shares of the financial services provider’s stock valued at $30,170,000 after purchasing an additional 109,457 shares during the period. 87.33% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BANR. Raymond James raised their target price on shares of Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Janney Montgomery Scott lowered shares of Banner from a “buy” rating to a “neutral” rating in a report on Friday, July 19th. Piper Sandler set a $67.00 target price on shares of Banner in a research note on Thursday, October 17th. Finally, DA Davidson raised their price target on Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. One 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’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $61.60.

Insider Buying and Selling at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction on Wednesday, November 6th. The shares were 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 filing with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is currently owned by corporate insiders.

Banner Trading Up 0.1 %

Shares of BANR opened at $73.52 on Friday. Banner Co. has a fifty-two week low of $42.00 and a fifty-two week high of $77.01. The stock has a fifty day moving average of $63.43 and a two-hundred day moving average of $55.54. 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 capitalization of $2.53 billion, a PE ratio of 15.38 and a beta of 1.04.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.18 by $0.12. The firm had revenue of $213.90 million during the quarter, compared to analyst estimates of $152.95 million. Banner had a net margin of 20.28% and a return on equity of 10.22%. During the same quarter in the prior year, the business posted $1.43 earnings per share. As a group, analysts forecast that Banner Co. will post 4.88 EPS for the current year.

Banner Announces Dividend

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

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.