Forest Hill Capital LLC reduced its position in Banner Co. (NASDAQ:BANR) by 15.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 190,360 shares of the financial services provider’s stock after selling 35,000 shares during the quarter. Banner makes up about 3.0% of Forest Hill Capital LLC’s holdings, making the stock its 16th largest position. Forest Hill Capital LLC owned about 0.58% of Banner worth $10,493,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Zions Bancorporation purchased a new stake in Banner in the third quarter worth $122,000. Jane Street Group LLC purchased a new position in shares of Banner in the third quarter valued at $266,000. Stone Ridge Asset Management LLC purchased a new position in shares of Banner in the fourth quarter valued at $248,000. Crossmark Global Holdings Inc. purchased a new position in shares of Banner in the third quarter valued at $391,000. Finally, Piedmont Investment Advisors LLC grew its position in shares of Banner by 27.5% in the third quarter. Piedmont Investment Advisors LLC now owns 7,231 shares of the financial services provider’s stock valued at $443,000 after purchasing an additional 1,561 shares in the last quarter. 92.11% of the stock is owned by institutional investors and hedge funds.
In related news, VP Cynthia D. Purcell sold 841 shares of the business’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $54.67, for a total transaction of $45,977.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kenneth A. Larsen sold 884 shares of the business’s stock in a transaction dated Thursday, March 8th. The stock was sold at an average price of $57.53, for a total value of $50,856.52. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,137 shares of company stock valued at $120,590. 1.71% of the stock is owned by company insiders.
Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, January 24th. The financial services provider reported $0.71 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.79 by ($0.08). Banner had a return on equity of 7.55% and a net margin of 12.02%. The business had revenue of $128.15 million for the quarter, compared to analysts’ expectations of $126.56 million. analysts anticipate that Banner Co. will post 3.48 EPS for the current year.
Several brokerages have recently weighed in on BANR. Zacks Investment Research upgraded Banner from a “hold” rating to a “buy” rating and set a $65.00 price target for the company in a research report on Friday, January 12th. BidaskClub cut Banner from a “hold” rating to a “sell” rating in a research report on Tuesday, January 23rd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $60.00 price target on shares of Banner in a research report on Friday, December 22nd. ValuEngine cut Banner from a “buy” rating to a “hold” rating in a research report on Saturday, November 25th. Finally, Sandler O’Neill reiterated a “buy” rating on shares of Banner in a research report on Friday, January 26th. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $60.25.
Banner Company Profile
Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.
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