Forest Hill Capital LLC Sells 22,500 Shares of Banner Co. (NASDAQ:BANR)

Forest Hill Capital LLC trimmed its holdings in shares of Banner Co. (NASDAQ:BANR - Free Report) by 44.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,522 shares of the financial services provider's stock after selling 22,500 shares during the quarter. Banner comprises about 1.5% of Forest Hill Capital LLC's investment portfolio, making the stock its 23rd largest holding. Forest Hill Capital LLC owned approximately 0.08% of Banner worth $1,904,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BANR. USA Financial Formulas bought a new stake in shares of Banner in the fourth quarter valued at approximately $32,000. Financial Life Planners acquired a new stake in shares of Banner during the 4th quarter worth $32,000. Smartleaf Asset Management LLC increased its position in shares of Banner by 167.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 705 shares of the financial services provider's stock worth $47,000 after purchasing an additional 441 shares during the period. Sterling Capital Management LLC raised its stake in Banner by 816.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 964 shares in the last quarter. Finally, KBC Group NV lifted its position 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 during the period. Institutional investors and hedge funds own 87.33% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Janney Montgomery Scott upgraded shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 target price for the company in a research report on Monday, April 21st. Stephens reaffirmed an "overweight" rating and issued a $73.00 target price on shares of Banner in a report on Monday, April 21st. DA Davidson boosted their price target on Banner from $73.00 to $76.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. StockNews.com downgraded Banner from a "hold" rating to a "sell" rating in a research note on Thursday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, Banner has an average rating of "Hold" and an average target price of $70.83.

Banner Trading Down 0.3 %

Shares of BANR stock opened at $62.98 on Friday. The stock has a 50-day moving average of $61.84 and a 200-day moving average of $66.97. The company has a current ratio of 0.86, a quick ratio of 0.85 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.17 billion, a price-to-earnings ratio of 12.91 and a beta of 0.90. Banner Co. has a 1-year low of $44.59 and a 1-year high of $78.05.

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

Banner Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Tuesday, April 29th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.05%. The ex-dividend date was Tuesday, April 29th. Banner's dividend payout ratio (DPR) is presently 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.

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