The Manufacturers Life Insurance Company Has $54.94 Million Stock Holdings in Banner Corporation $BANR

The Manufacturers Life Insurance Company trimmed its position in shares of Banner Corporation (NASDAQ:BANR) by 1.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 905,453 shares of the financial services provider’s stock after selling 15,072 shares during the period. The Manufacturers Life Insurance Company’s holdings in Banner were worth $54,943,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. UBS Group AG grew its stake in Banner by 241.2% in the fourth quarter. UBS Group AG now owns 454,807 shares of the financial services provider’s stock valued at $28,498,000 after purchasing an additional 321,522 shares in the last quarter. Deprince Race & Zollo Inc. raised its stake in shares of Banner by 93.8% during the 4th quarter. Deprince Race & Zollo Inc. now owns 488,295 shares of the financial services provider’s stock worth $30,597,000 after purchasing an additional 236,394 shares in the last quarter. North Reef Capital Management LP purchased a new stake in shares of Banner during the 1st quarter worth about $11,860,000. Goldman Sachs Group Inc. lifted its holdings in shares of Banner by 60.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 366,689 shares of the financial services provider’s stock valued at $22,977,000 after buying an additional 138,525 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of Banner by 307.8% during the 3rd quarter. Two Sigma Investments LP now owns 173,742 shares of the financial services provider’s stock valued at $11,380,000 after buying an additional 131,140 shares during the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.

Banner Stock Performance

BANR opened at $69.96 on Thursday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $2.38 billion, a PE ratio of 11.54 and a beta of 0.83. The stock has a 50-day moving average of $67.00 and a 200-day moving average of $64.31. Banner Corporation has a 52-week low of $57.05 and a 52-week high of $72.65.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02). Banner had a net margin of 23.55% and a return on equity of 10.72%. The company had revenue of $172.11 million during the quarter, compared to the consensus estimate of $174.54 million. As a group, equities research analysts forecast that Banner Corporation will post 6.2 earnings per share for the current fiscal year.

Banner Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th will be given a $0.52 dividend. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.0%. Banner’s dividend payout ratio (DPR) is currently 34.32%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Piper Sandler increased their price objective on Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Keefe, Bruyette & Woods lifted their target price on shares of Banner from $75.00 to $78.00 and gave the company a “market perform” rating in a research note on Monday. Benchmark initiated coverage on shares of Banner in a research report on Wednesday, July 8th. They issued a “hold” rating for the company. DA Davidson increased their price target on shares of Banner from $72.00 to $76.00 and gave the stock a “neutral” rating in a research note on Monday. Finally, Weiss Ratings upgraded shares of Banner from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Banner presently has an average rating of “Hold” and a consensus price target of $72.75.

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.