Banner Corp. (BANR) Receives Average Recommendation of “Buy” from Brokerages
Shares of Banner Corp. (NASDAQ:BANR) have been assigned an average rating of “Buy” from the eight analysts that are currently covering the firm. Two analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $50.00.
BANR has been the topic of several recent research reports. Zacks Investment Research cut Banner Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Keefe, Bruyette & Woods lowered their price objective on Banner Corp. from $49.00 to $48.00 and set a “market perform” rating on the stock in a research report on Thursday, July 28th. FBR & Co lowered their price objective on Banner Corp. from $50.00 to $48.00 and set a “market perform” rating on the stock in a research report on Friday, July 29th. Finally, DA Davidson reiterated a “buy” rating and set a $52.00 price objective on shares of Banner Corp. in a research report on Tuesday, August 23rd.
Shares of Banner Corp. (NASDAQ:BANR) traded up 0.65% on Wednesday, reaching $44.62. 28,755 shares of the company traded hands. Banner Corp. has a one year low of $35.39 and a one year high of $53.55. The firm’s 50 day moving average is $43.82 and its 200 day moving average is $42.86. The company has a market capitalization of $1.53 billion, a P/E ratio of 23.42 and a beta of 1.63.
Banner Corp. (NASDAQ:BANR) last posted its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.67 earnings per share 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%. Analysts expect that Banner Corp. will post $2.81 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Monday, October 10th will be given a $0.23 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.08%. This is a boost from Banner Corp.’s previous quarterly dividend of $0.21. Banner Corp.’s dividend payout ratio (DPR) is presently 47.18%.
A number of hedge funds have recently added to or reduced their stakes in BANR. Vanguard Group Inc. raised its stake in Banner Corp. by 5.0% in the second quarter. Vanguard Group Inc. now owns 2,170,618 shares of the financial services provider’s stock valued at $92,338,000 after buying an additional 103,391 shares during the period. BlackRock Fund Advisors raised its stake 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 during the period. Dimensional Fund Advisors LP raised its stake in Banner Corp. by 17.7% in the second quarter. Dimensional Fund Advisors LP now owns 1,231,501 shares of the financial services provider’s stock valued at $52,387,000 after buying an additional 185,456 shares during the period. Victory Capital Management Inc. raised its stake in Banner Corp. by 6.0% in the second quarter. Victory Capital Management Inc. now owns 813,041 shares of the financial services provider’s stock valued at $34,587,000 after buying an additional 46,057 shares during the period. Finally, General Motors Investment Management Corp acquired a new stake in Banner Corp. during the second quarter valued at $27,349,000. 77.17% of the stock is currently owned by institutional investors and hedge funds.
About Banner Corp.
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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