Banner (NASDAQ:BANR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.
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. “
A number of other research analysts also recently commented on BANR. ValuEngine downgraded shares of Banner from a “buy” rating to a “hold” rating in a report on Saturday, November 25th. BidaskClub downgraded shares of Banner from a “hold” rating to a “sell” rating in a report on Tuesday, January 23rd. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $58.00 price target on shares of Banner in a report on Friday, February 2nd. Sandler O’Neill reaffirmed a “buy” rating on shares of Banner in a report on Friday, January 26th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $58.00 price target on shares of Banner in a report on Friday, January 26th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $60.25.
Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, January 24th. The financial services provider reported $0.71 EPS for the quarter, missing the Zacks’ consensus estimate of $0.79 by ($0.08). Banner had a net margin of 12.02% and a return on equity of 7.55%. The business had revenue of $128.15 million during the quarter, compared to the consensus estimate of $126.56 million. research analysts expect that Banner will post 3.48 earnings per share for the current year.
In related news, VP Cynthia D. Purcell sold 841 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $54.67, for a total value of $45,977.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.71% of the company’s stock.
Institutional investors have recently bought and sold shares of the stock. Zions Bancorporation purchased a new stake in Banner in the 3rd quarter worth about $122,000. Ameritas Investment Partners Inc. raised its position in Banner by 11.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,893 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 300 shares during the period. Xact Kapitalforvaltning AB purchased a new stake in Banner in the 4th quarter worth about $217,000. Jane Street Group LLC purchased a new stake in Banner in the 3rd quarter worth about $266,000. Finally, Elkfork Partners LLC purchased a new stake in Banner in the 4th quarter worth about $245,000. 89.22% of the stock is currently owned by institutional investors.
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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