Banner Corp. (NASDAQ:BANR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “Banner Corporation is a bank holding company operating two commercial banks in five Western states through a network of branches offering a full range of deposit services and business, commercial real estate, construction, residential, agricultural and consumer loans. “
Several other research firms also recently weighed in on BANR. Keefe, Bruyette & Woods decreased their price target on shares of Banner Corp. from $49.00 to $48.00 and set a “market perform” rating for the company in a research note on Thursday, July 28th. DA Davidson reaffirmed a “buy” rating and set a $52.00 price target on shares of Banner Corp. in a research note on Tuesday, August 23rd. Finally, FBR & Co decreased their price target on shares of Banner Corp. from $50.00 to $48.00 and set a “market perform” rating for the company in a research note on Friday, July 29th. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $50.40.
Banner Corp. (NASDAQ:BANR) traded up 1.69% during trading on Wednesday, hitting $44.59. The stock had a trading volume of 213,701 shares. The firm has a 50 day moving average of $43.55 and a 200-day moving average of $42.77. Banner Corp. has a 12 month low of $35.39 and a 12 month high of $53.55. The stock has a market cap of $1.53 billion, a price-to-earnings ratio of 23.41 and a beta of 1.63.
Banner Corp. (NASDAQ:BANR) last posted its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.05. Banner Corp. had a net margin of 13.96% and a return on equity of 6.70%. Equities analysts predict that Banner Corp. will post $2.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Monday, October 10th will be paid a $0.23 dividend. This is an increase from Banner Corp.’s previous quarterly dividend of $0.21. The ex-dividend date is Wednesday, October 5th. This represents a $0.92 dividend on an annualized basis and a yield of 2.06%. Banner Corp.’s payout ratio is 43.08%.
A number of institutional investors have recently modified their holdings of the company. General Motors Investment Management Corp acquired a new position in shares of Banner Corp. during the second quarter worth approximately $27,349,000. Basswood Capital Management L.L.C. raised its position in Banner Corp. by 136.8% in the second quarter. Basswood Capital Management L.L.C. now owns 561,501 shares of the financial services provider’s stock valued at $23,886,000 after buying an additional 324,426 shares in the last quarter. BlackRock Fund Advisors raised its position in Banner Corp. by 16.3% in the second quarter. BlackRock Fund Advisors now owns 1,517,825 shares of the financial services provider’s stock valued at $64,568,000 after buying an additional 212,618 shares in the last quarter. Monarch Partners Asset Management LLC raised its position in Banner Corp. by 126.5% in the second quarter. Monarch Partners Asset Management LLC now owns 359,050 shares of the financial services provider’s stock valued at $15,274,000 after buying an additional 200,530 shares in the last quarter. Finally, State of Wisconsin Investment Board purchased a new position in Banner Corp. during the second quarter valued at about $8,508,000. 77.17% of the stock is owned by institutional investors.
Banner Corp. 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 regional bank that offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its market areas.
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