Peregrine Capital Management LLC Has $7.15 Million Stock Holdings in Banner Co. (NASDAQ:BANR)

Peregrine Capital Management LLC reduced its holdings in shares of Banner Co. (NASDAQ:BANR) by 10.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 107,113 shares of the financial services provider’s stock after selling 13,072 shares during the quarter. Peregrine Capital Management LLC’s holdings in Banner were worth $7,152,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. D.A. Davidson & CO. acquired a new position in Banner during the 4th quarter valued at about $202,000. Principal Financial Group Inc. lifted its holdings in shares of Banner by 2.9% in the fourth quarter. Principal Financial Group Inc. now owns 167,089 shares of the financial services provider’s stock valued at $11,157,000 after purchasing an additional 4,661 shares in the last quarter. Empowered Funds LLC boosted its position in shares of Banner by 5.1% during the fourth quarter. Empowered Funds LLC now owns 97,411 shares of the financial services provider’s stock valued at $6,504,000 after buying an additional 4,716 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Banner by 18.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,939 shares of the financial services provider’s stock worth $1,667,000 after buying an additional 3,933 shares in the last quarter. Finally, Financial Life Planners purchased a new stake in Banner in the 4th quarter valued at $32,000. 87.33% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on BANR. DA Davidson upped their target price on shares of Banner from $73.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, January 24th. Keefe, Bruyette & Woods upped their price objective on shares of Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Finally, Stephens reissued an “overweight” rating and set a $82.00 target price on shares of Banner in a research report on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $74.20.

Banner Stock Performance

NASDAQ BANR opened at $68.92 on Wednesday. The company has a market capitalization of $2.37 billion, a PE ratio of 14.12 and a beta of 1.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.86. Banner Co. has a 52-week low of $42.00 and a 52-week high of $78.05. The company has a 50-day simple moving average of $68.85 and a 200 day simple moving average of $65.40.

Banner (NASDAQ:BANR) last posted its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.11. Banner had a net margin of 20.28% and a return on equity of 10.03%. On average, research analysts predict that Banner Co. will post 5.22 EPS for the current year.

Banner Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were given a dividend of $0.48 per share. The ex-dividend date was Tuesday, February 4th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.79%. Banner’s dividend payout ratio is presently 39.34%.

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.