Banner Corp. (BANR) Price Target Raised to $46.00 at FBR & Co
Banner Corp. (NASDAQ:BANR) had its price objective lifted by FBR & Co from $45.00 to $46.00 in a research report sent to investors on Tuesday. They currently have a mkt perform rating on the financial services provider’s stock.
Other research analysts have also issued research reports about the stock. DA Davidson restated a buy rating and set a $52.00 price target on shares of Banner Corp. in a report on Tuesday, August 23rd. Zacks Investment Research upgraded shares of Banner Corp. from a sell rating to a hold rating in a report on Wednesday, October 5th. Finally, Keefe, Bruyette & Woods lowered their price objective 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. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and a consensus price target of $50.00.
Shares of Banner Corp. (NASDAQ:BANR) traded up 0.43% during mid-day trading on Tuesday, hitting $44.52. 13,955 shares of the stock traded hands. Banner Corp. has a one year low of $35.39 and a one year high of $53.55. The company’s 50 day moving average is $43.82 and its 200 day moving average is $42.86. The firm has a market capitalization of $1.53 billion, a P/E ratio of 23.37 and a beta of 1.63.
Banner Corp. (NASDAQ:BANR) last released its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing the 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 analysts expect that Banner Corp. will post $2.81 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Monday, October 10th will be issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.08%. This is an increase from Banner Corp.’s previous quarterly dividend of $0.21. The ex-dividend date of this dividend is Wednesday, October 5th. Banner Corp.’s payout ratio is currently 47.18%.
Institutional investors have recently bought and sold shares of the company. PineBridge Investments L.P. increased its position in Banner Corp. by 4.8% in the second quarter. PineBridge Investments L.P. now owns 2,606 shares of the financial services provider’s stock worth $111,000 after buying an additional 120 shares in the last quarter. Mason Street Advisors LLC acquired a new stake in Banner Corp. during the second quarter worth approximately $171,000. MUFG Americas Holdings Corp boosted its stake in Banner Corp. by 2.0% in the second quarter. MUFG Americas Holdings Corp now owns 6,108 shares of the financial services provider’s stock worth $260,000 after buying an additional 118 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Banner Corp. by 125.6% in the second quarter. BNP Paribas Arbitrage SA now owns 6,889 shares of the financial services provider’s stock worth $293,000 after buying an additional 3,836 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in Banner Corp. during the second quarter worth approximately $314,000. 77.17% of the stock is currently owned by hedge funds and other 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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