Amalgamated Bank Sells 385 Shares of Banner Co. (NASDAQ:BANR)

Amalgamated Bank reduced its position in shares of Banner Co. (NASDAQ:BANR) by 3.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC increased its position 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 period. Innealta Capital LLC purchased a new stake in Banner in the second quarter worth $53,000. US Bancorp DE raised its holdings in Banner by 287.1% in the third quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock worth $86,000 after purchasing an additional 1,065 shares in the last quarter. CWM LLC lifted its position in Banner by 60.1% during the second quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock valued at $94,000 after buying an additional 715 shares during the period. Finally, Quest Partners LLC purchased a new position in Banner during the second quarter valued at $152,000. 87.33% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on BANR. Raymond James increased their target price on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. DA Davidson upped their target price 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. Piper Sandler set a $67.00 price target on shares of Banner in a research report on Thursday, October 17th. Finally, Janney Montgomery Scott cut Banner from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. One equities 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’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $61.60.

Insider Buying and Selling

In other Banner 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 transaction, the vice president now owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. The trade was a 6.42 % decrease in their ownership of the stock. The transaction 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 %

NASDAQ:BANR opened at $73.52 on Friday. The firm has a 50-day simple moving average of $63.43 and a 200-day simple moving average of $55.54. Banner Co. has a one year low of $42.00 and a one year high of $77.01. The firm has a market cap of $2.53 billion, a P/E ratio of 15.38 and a beta of 1.04. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85.

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

Banner Announces Dividend

The firm 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 (DPR) is presently 40.17%.

Banner 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.