Banner Corporation (BANR) Lifted to Buy at ValuEngine
ValuEngine upgraded shares of Banner Corporation (NASDAQ:BANR) from a hold rating to a buy rating in a report issued on Friday.
Several other research firms have also commented on BANR. Zacks Investment Research upgraded shares of Banner Corporation from a sell rating to a buy rating and set a $63.00 price objective for the company in a research note on Monday, July 3rd. BidaskClub upgraded shares of Banner Corporation from a sell rating to a hold rating in a research note on Saturday, August 5th. Finally, Stephens began coverage on shares of Banner Corporation in a research note on Wednesday, September 13th. They issued an equal weight rating and a $60.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $57.75.
Banner Corporation (NASDAQ BANR) opened at 57.11 on Friday. The company has a market cap of $1.90 billion, a PE ratio of 19.89 and a beta of 1.05. The company’s 50-day moving average price is $55.88 and its 200-day moving average price is $55.80. Banner Corporation has a 12-month low of $42.93 and a 12-month high of $60.97.
Banner Corporation (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.78 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.72 by $0.06. The firm had revenue of $122.18 million during the quarter, compared to analyst estimates of $119.46 million. Banner Corporation had a net margin of 19.63% and a return on equity of 7.50%. Equities analysts anticipate that Banner Corporation will post $3.10 earnings per share for the current year.
In other news, Director Gary Sirmon sold 3,333 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $55.46, for a total transaction of $184,848.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Cynthia D. Purcell sold 1,007 shares of the stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $55.61, for a total transaction of $55,999.27. The disclosure for this sale can be found here. Insiders have sold a total of 7,923 shares of company stock valued at $439,858 over the last three months. Insiders own 1.71% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Creative Planning grew its position in shares of Banner Corporation by 4.6% during the 2nd quarter. Creative Planning now owns 1,913 shares of the financial services provider’s stock valued at $108,000 after acquiring an additional 85 shares during the period. Quantbot Technologies LP bought a new position in shares of Banner Corporation during the 1st quarter valued at approximately $107,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Banner Corporation by 236.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,135 shares of the financial services provider’s stock valued at $121,000 after acquiring an additional 1,500 shares during the period. Riverhead Capital Management LLC grew its position in shares of Banner Corporation by 182.8% during the 2nd quarter. Riverhead Capital Management LLC now owns 2,262 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 1,462 shares during the period. Finally, Ameritas Investment Partners Inc. bought a new position in shares of Banner Corporation during the 1st quarter valued at approximately $144,000. 88.45% of the stock is owned by hedge funds and other institutional investors.
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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