Thrivent Financial for Lutherans Reduces Stake in Banner Co. (NASDAQ:BANR)

Thrivent Financial for Lutherans cut its stake in shares of Banner Co. (NASDAQ:BANR) by 5.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 259,726 shares of the financial services provider’s stock after selling 14,263 shares during the period. Thrivent Financial for Lutherans’ holdings in Banner were worth $15,470,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in BANR. Louisiana State Employees Retirement System increased its position in shares of Banner by 1.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the financial services provider’s stock valued at $859,000 after purchasing an additional 300 shares during the last quarter. CWM LLC raised its stake in shares of Banner by 19.5% in the third quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 371 shares during the period. ProShare Advisors LLC lifted its holdings in shares of Banner by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 6,906 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 475 shares during the last quarter. Diversified Trust Co boosted its stake in shares of Banner by 4.8% during the 2nd quarter. Diversified Trust Co now owns 10,382 shares of the financial services provider’s stock worth $515,000 after purchasing an additional 476 shares during the period. Finally, EntryPoint Capital LLC grew its holdings in Banner by 100.9% during the 1st quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock valued at $53,000 after purchasing an additional 558 shares during the last quarter. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total transaction of $113,445.00. Following the completion of the sale, the vice president now directly owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. This represents a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.60% of the company’s stock.

Banner Price Performance

BANR opened at $72.24 on Thursday. The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 15.11 and a beta of 1.04. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. Banner Co. has a 12-month low of $42.00 and a 12-month high of $77.01. The business’s fifty day simple moving average is $64.38 and its 200-day simple moving average is $56.19.

Banner (NASDAQ:BANR) last posted its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.18 by $0.12. Banner had a net margin of 20.28% and a return on equity of 10.22%. The business had revenue of $213.90 million during the quarter, compared to analyst estimates of $152.95 million. During the same quarter in the previous year, the business posted $1.43 EPS. On average, equities research analysts anticipate that Banner Co. will post 4.88 earnings per share for the current fiscal 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 given a dividend of $0.48 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.92 annualized dividend and a yield of 2.66%. Banner’s dividend payout ratio (DPR) is presently 40.17%.

Wall Street Analysts Forecast Growth

BANR has been the subject of several analyst reports. Raymond James raised their price objective on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Piper Sandler set a $67.00 price objective on Banner in a report on Thursday, October 17th. Finally, DA Davidson increased their target price on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $61.60.

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.