Dark Forest Capital Management LP Makes New Investment in Banner Co. (NASDAQ:BANR)

Dark Forest Capital Management LP purchased a new position in shares of Banner Co. (NASDAQ:BANR - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 5,593 shares of the financial services provider's stock, valued at approximately $373,000.

Other large investors also recently modified their holdings of the company. Financial Life Planners bought a new position in Banner during the fourth quarter worth $32,000. USA Financial Formulas bought a new position in shares of Banner during the 4th quarter worth about $32,000. Smartleaf Asset Management LLC grew its stake in shares of Banner by 167.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 705 shares of the financial services provider's stock valued at $47,000 after buying an additional 441 shares during the period. Sterling Capital Management LLC increased its position in Banner by 816.9% in the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock valued at $72,000 after buying an additional 964 shares in the last quarter. Finally, KBC Group NV raised its stake in Banner by 46.0% during the 4th quarter. KBC Group NV now owns 1,656 shares of the financial services provider's stock worth $111,000 after buying an additional 522 shares during the period. Institutional investors and hedge funds own 87.33% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Raymond James reaffirmed an "outperform" rating and set a $65.00 target price (down from $77.00) on shares of Banner in a research report on Monday, April 21st. StockNews.com raised shares of Banner from a "sell" rating to a "hold" rating in a research report on Monday. Janney Montgomery Scott raised shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 price target on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods decreased their price objective on Banner from $75.00 to $73.00 and set a "market perform" rating for the company in a report on Monday, April 21st. Finally, DA Davidson increased their price objective on Banner from $73.00 to $76.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.83.

Banner Stock Performance

NASDAQ:BANR traded up $0.75 during trading on Friday, reaching $63.15. The company's stock had a trading volume of 118,428 shares, compared to its average volume of 213,728. The firm has a market cap of $2.18 billion, a price-to-earnings ratio of 12.94 and a beta of 0.90. Banner Co. has a 12 month low of $44.59 and a 12 month high of $78.05. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.86. The firm has a 50 day moving average of $62.49 and a 200-day moving average of $67.11.

Banner (NASDAQ:BANR - Get Free Report) last released its earnings results on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.23 by $0.06. The firm had revenue of $159.88 million for the quarter, compared to analysts' expectations of $159.72 million. Banner had a net margin of 20.28% and a return on equity of 10.03%. During the same period in the previous year, the company earned $1.22 earnings per share. Research analysts expect that Banner Co. will post 5.23 EPS for the current fiscal year.

Banner Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Tuesday, April 29th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.04%. The ex-dividend date is Tuesday, April 29th. Banner's dividend payout ratio is currently 37.72%.

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.