Banner Corporation (NASDAQ:BANR) has earned an average rating of “Hold” from the six brokerages that are covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $54.00.
A number of equities research analysts have recently issued reports on BANR shares. Zacks Investment Research upgraded Banner Corporation from a “sell” rating to a “buy” rating and set a $63.00 price objective for the company in a report on Monday, July 3rd. BidaskClub upgraded Banner Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Stephens started coverage on Banner Corporation in a report on Wednesday. They set an “equal weight” rating for the company.
In other news, VP Cynthia D. Purcell sold 1,007 shares of Banner Corporation stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $55.61, for a total value of $55,999.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Gary Sirmon sold 3,333 shares of Banner Corporation stock in a transaction that occurred on Tuesday, July 18th. The shares were sold at an average price of $55.46, for a total transaction of $184,848.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 11,006 shares of company stock valued at $614,910. 1.71% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BANR. Nationwide Fund Advisors raised its position in shares of Banner Corporation by 0.4% in the first quarter. Nationwide Fund Advisors now owns 43,345 shares of the financial services provider’s stock valued at $2,412,000 after buying an additional 176 shares in the last quarter. Strs Ohio acquired a new stake in shares of Banner Corporation in the first quarter valued at approximately $1,057,000. Russell Investments Group Ltd. raised its position in shares of Banner Corporation by 90.9% in the first quarter. Russell Investments Group Ltd. now owns 71,007 shares of the financial services provider’s stock valued at $3,950,000 after buying an additional 33,807 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Banner Corporation by 5.8% in the first quarter. Great West Life Assurance Co. Can now owns 35,409 shares of the financial services provider’s stock valued at $1,968,000 after buying an additional 1,951 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Banner Corporation by 0.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 15,632 shares of the financial services provider’s stock valued at $870,000 after buying an additional 140 shares in the last quarter. Institutional investors own 89.14% of the company’s stock.
Banner Corporation (BANR) opened at 56.27 on Wednesday. Banner Corporation has a 12-month low of $42.66 and a 12-month high of $60.97. The firm has a 50-day moving average price of $55.96 and a 200 day moving average price of $55.82. The firm has a market cap of $1.87 billion, a PE ratio of 19.60 and a beta of 1.05.
Banner Corporation (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Banner Corporation had a return on equity of 7.50% and a net margin of 19.63%. The company had revenue of $122.18 million during the quarter, compared to analysts’ expectations of $119.46 million. Equities research analysts forecast that Banner Corporation will post $3.09 EPS for the current year.
Banner Corporation 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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