Peregrine Capital Management LLC Reduces Holdings in Banner Co. (NASDAQ:BANR)

Peregrine Capital Management LLC cut its holdings in Banner Co. (NASDAQ:BANR - Free Report) by 10.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 107,113 shares of the financial services provider's stock after selling 13,072 shares during the period. Peregrine Capital Management LLC owned 0.31% of Banner worth $7,152,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. USA Financial Formulas acquired a new position in Banner during the fourth quarter worth $32,000. Financial Life Planners acquired a new position in Banner during the fourth quarter worth $32,000. US Bancorp DE lifted its stake in Banner by 287.1% during 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. KBC Group NV lifted its stake in Banner by 46.0% during the fourth quarter. KBC Group NV now owns 1,656 shares of the financial services provider's stock worth $111,000 after purchasing an additional 522 shares in the last quarter. Finally, CWM LLC lifted its stake in Banner by 19.5% during the third quarter. CWM LLC now owns 2,275 shares of the financial services provider's stock worth $136,000 after purchasing an additional 371 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BANR. Stephens restated an "overweight" rating and set a $82.00 price target on shares of Banner in a research note on Thursday, January 23rd. DA Davidson upped their price objective on Banner from $73.00 to $76.00 and gave the stock a "neutral" rating in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods upped 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. One research 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. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $74.20.

Banner Stock Down 1.5 %

Shares of Banner stock traded down $1.01 during trading hours on Friday, reaching $67.28. 260,248 shares of the company were exchanged, compared to its average volume of 172,586. The firm has a market cap of $2.32 billion, a PE ratio of 13.79 and a beta of 1.09. The stock's fifty day moving average is $68.61 and its 200 day moving average is $65.55. 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 1 year low of $42.00 and a 1 year high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.22 by $0.11. Banner had a return on equity of 10.03% and a net margin of 20.28%. As a group, equities research analysts forecast that Banner Co. will post 5.23 earnings per share for the current year.

Banner Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 14th. Investors of record on Tuesday, February 4th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.85%. The ex-dividend date was Tuesday, February 4th. Banner's dividend payout ratio (DPR) is presently 39.34%.

About Banner

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.