Peregrine Capital Management LLC Sells 13,072 Shares of Banner Co. (NASDAQ:BANR)

Peregrine Capital Management LLC lessened its holdings in Banner Co. (NASDAQ:BANR) by 10.9% in the fourth quarter, according to the company in its most recent 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 owned approximately 0.31% of Banner worth $7,152,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in Banner by 3.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,330,064 shares of the financial services provider’s stock valued at $79,219,000 after acquiring an additional 43,398 shares during the period. Geode Capital Management LLC increased its holdings in Banner by 1.5% in the third quarter. Geode Capital Management LLC now owns 823,763 shares of the financial services provider’s stock valued at $49,073,000 after purchasing an additional 11,808 shares during the period. Versor Investments LP acquired a new stake in Banner in the third quarter valued at $439,000. JPMorgan Chase & Co. raised its position in Banner by 7.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 409,885 shares of the financial services provider’s stock worth $24,413,000 after purchasing an additional 29,174 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings in Banner by 12.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock worth $106,334,000 after buying an additional 193,434 shares during the period. Institutional investors own 87.33% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Keefe, Bruyette & Woods raised their price objective on Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research report on Wednesday, December 4th. Stephens restated an “overweight” rating and set a $82.00 price target on shares of Banner in a report on Thursday, January 23rd. Finally, DA Davidson boosted their price target on shares of Banner from $73.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $74.20.

Banner Price Performance

Shares of BANR opened at $68.92 on Wednesday. The firm has a market cap of $2.37 billion, a PE ratio of 14.12 and a beta of 1.09. Banner Co. has a 52-week low of $42.00 and a 52-week high of $78.05. The business’s 50 day moving average price is $68.85 and its two-hundred day moving average price is $65.40. 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 (NASDAQ:BANR) last released its earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating 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, equities analysts anticipate that Banner Co. will post 5.22 EPS for the current year.

Banner Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were paid a $0.48 dividend. The ex-dividend date was Tuesday, February 4th. This represents a $1.92 annualized dividend 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.