Banner Corporation (BANR) Cut to Hold at ValuEngine
ValuEngine lowered shares of Banner Corporation (NASDAQ:BANR) from a buy rating to a hold rating in a report issued on Tuesday morning.
BANR has been the topic of several other research reports. Stephens began coverage on shares of Banner Corporation in a report on Wednesday, September 13th. They issued an equal weight rating and a $60.00 target price on the stock. BidaskClub upgraded shares of Banner Corporation from a hold rating to a buy rating in a research report on Wednesday, June 14th. Finally, Zacks Investment Research upgraded shares of Banner Corporation from a sell rating to a buy rating and set a $63.00 price target on the stock in a research report on Monday, July 3rd. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The company presently has an average rating of Hold and an average target price of $57.75.
Shares of Banner Corporation (NASDAQ BANR) traded up 0.18% during trading on Tuesday, hitting $61.34. 32,460 shares of the stock were exchanged. The stock has a market cap of $2.04 billion, a PE ratio of 21.37 and a beta of 1.04. The firm has a 50 day moving average of $58.04 and a 200-day moving average of $56.15. Banner Corporation has a 52-week low of $43.61 and a 52-week high of $62.24.
Banner Corporation (NASDAQ:BANR) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.78 EPS for the quarter, topping the consensus estimate of $0.72 by $0.06. Banner Corporation had a net margin of 19.63% and a return on equity of 7.50%. The firm had revenue of $122.18 million for the quarter, compared to the consensus estimate of $119.46 million. Equities research analysts anticipate that Banner Corporation will post $3.13 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 18th. Investors of record on Tuesday, October 10th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.63%. The ex-dividend date is Friday, October 6th. Banner Corporation’s dividend payout ratio is presently 34.72%.
In related news, VP Cynthia D. Purcell sold 1,007 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $55.61, for a total value of $55,999.27. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Gary Sirmon sold 3,333 shares of the business’s stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $55.46, for a total transaction of $184,848.18. The disclosure for this sale can be found here. Insiders sold 11,258 shares of company stock worth $631,587 in the last 90 days. 1.71% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Phocas Financial Corp. increased its position in Banner Corporation by 4.7% in the second quarter. Phocas Financial Corp. now owns 304,214 shares of the financial services provider’s stock worth $17,346,000 after purchasing an additional 13,575 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in Banner Corporation by 114.8% during the second quarter. Dynamic Technology Lab Private Ltd now owns 16,322 shares of the financial services provider’s stock valued at $922,000 after acquiring an additional 8,725 shares during the last quarter. Piedmont Investment Advisors LLC bought a new position in Banner Corporation during the second quarter valued at $320,000. Dean Capital Management bought a new position in Banner Corporation during the second quarter valued at $3,243,000. Finally, Ameritas Investment Partners Inc. increased its position in Banner Corporation by 11.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,893 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 300 shares during the last quarter. Institutional investors own 88.45% of the company’s stock.
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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