Peregrine Capital Management LLC Sells 8,212 Shares of Banner Corporation $BANR

Peregrine Capital Management LLC decreased its stake in Banner Corporation (NASDAQ:BANR) by 8.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 85,145 shares of the financial services provider’s stock after selling 8,212 shares during the period. Peregrine Capital Management LLC owned approximately 0.25% of Banner worth $5,167,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Royal Bank of Canada boosted its holdings in Banner by 1.0% in the 4th quarter. Royal Bank of Canada now owns 17,519 shares of the financial services provider’s stock valued at $1,097,000 after purchasing an additional 167 shares during the period. First Trust Advisors LP lifted its position in shares of Banner by 0.4% in the 3rd quarter. First Trust Advisors LP now owns 41,634 shares of the financial services provider’s stock worth $2,727,000 after acquiring an additional 175 shares during the period. US Bancorp DE lifted its position in shares of Banner by 8.9% in the 3rd quarter. US Bancorp DE now owns 2,154 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 176 shares during the period. ProShare Advisors LLC grew its holdings in shares of Banner by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 6,628 shares of the financial services provider’s stock worth $415,000 after purchasing an additional 197 shares in the last quarter. Finally, CWM LLC boosted its stake in Banner by 12.9% during the fourth quarter. CWM LLC now owns 1,828 shares of the financial services provider’s stock worth $115,000 after buying an additional 209 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Banner Price Performance

Shares of BANR stock opened at $67.83 on Thursday. The stock has a 50-day moving average price of $65.43 and a 200 day moving average price of $63.72. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.10. The firm has a market cap of $2.30 billion, a price-to-earnings ratio of 11.42 and a beta of 0.83. Banner Corporation has a 12 month low of $57.05 and a 12 month high of $69.83.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, April 22nd. The financial services provider reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.21. The company had revenue of $168.91 million for the quarter, compared to the consensus estimate of $169.60 million. Banner had a net margin of 23.24% and a return on equity of 10.77%. Research analysts expect that Banner Corporation will post 6.12 EPS for the current year.

Banner Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 15th. Investors of record on Tuesday, May 5th were issued a $0.52 dividend. This is an increase from Banner’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, May 5th. Banner’s dividend payout ratio (DPR) is currently 35.02%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. DA Davidson reiterated a “neutral” rating and issued a $72.00 price objective on shares of Banner in a research note on Monday, May 4th. Piper Sandler raised their target price on Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods boosted their price target on Banner from $73.00 to $75.00 and gave the company a “market perform” rating in a research note on Monday, May 18th. Finally, Weiss Ratings upgraded Banner from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $71.00.

Banner Profile

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.