Zacks Investment Research Upgrades Banner Corp. (BANR) to Hold
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 brokerages also recently issued reports on BANR. Keefe, Bruyette & Woods reduced their price objective on Banner Corp. from $49.00 to $48.00 and set a “market perform” rating for the company in a research report on Thursday, July 28th. FBR & Co dropped their target price on Banner Corp. from $50.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, July 29th. Finally, DA Davidson reissued a “buy” rating and set a $52.00 target price on shares of Banner Corp. in a report on Tuesday, August 23rd. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $50.40.
Shares of Banner Corp. (NASDAQ:BANR) opened at 44.51 on Wednesday. The firm has a market cap of $1.53 billion, a PE ratio of 23.36 and a beta of 1.63. Banner Corp. has a 12-month low of $35.39 and a 12-month high of $53.55. The stock’s 50 day moving average price is $43.67 and its 200 day moving average price is $42.79.
Banner Corp. (NASDAQ:BANR) last issued its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.05. Banner Corp. had a return on equity of 6.70% and a net margin of 13.96%. On average, equities research analysts predict that Banner Corp. will post $2.81 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Monday, October 10th will be issued a $0.23 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.07%. This is a boost from Banner Corp.’s previous quarterly dividend of $0.21. Banner Corp.’s dividend payout ratio is currently 43.08%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Nuveen Asset Management LLC boosted its position in Banner Corp. by 11.8% in the first quarter. Nuveen Asset Management LLC now owns 127,211 shares of the financial services provider’s stock valued at $5,348,000 after buying an additional 13,386 shares in the last quarter. William Blair Investment Management LLC bought a new position in Banner Corp. during the second quarter valued at about $7,809,000. Kennedy Capital Management Inc. boosted its position in Banner Corp. by 3.7% in the first quarter. Kennedy Capital Management Inc. now owns 450,450 shares of the financial services provider’s stock valued at $18,937,000 after buying an additional 16,278 shares in the last quarter. Menta Capital LLC boosted its position in Banner Corp. by 65.3% in the first quarter. Menta Capital LLC now owns 8,100 shares of the financial services provider’s stock valued at $341,000 after buying an additional 3,200 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in Banner Corp. by 2.7% in the second quarter. Mutual of America Capital Management LLC now owns 121,697 shares of the financial services provider’s stock valued at $5,177,000 after buying an additional 3,209 shares in the last quarter. 77.17% of the stock is currently 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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