Banner Corp. (BANR) Sees Large Volume Increase
Banner Corp. (NASDAQ:BANR) shares saw an uptick in trading volume on Tuesday . 476,657 shares traded hands during trading, an increase of 72% from the previous session’s volume of 277,142 shares.The stock last traded at $43.56 and had previously closed at $43.01.
A number of research firms have weighed in on BANR. FBR & Co reissued a “hold” rating on shares of Banner Corp. in a report on Wednesday, April 27th. Zacks Investment Research lowered shares of Banner Corp. from a “hold” rating to a “sell” rating in a research report on Thursday, April 28th. Finally, TheStreet upgraded shares of Banner Corp. from a “hold” rating to a “buy” rating in a research report on Monday, April 25th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $51.67.
The stock has a 50-day moving average price of $42.65 and a 200 day moving average price of $41.94. The firm has a market cap of $1.50 billion and a price-to-earnings ratio of 23.55.
Banner Corp. (NASDAQ:BANR) last announced its earnings results on Monday, April 25th. The financial services provider reported $0.65 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.03. The firm had revenue of $111 million for the quarter, compared to the consensus estimate of $92.08 million. Equities research analysts predict that Banner Corp. will post $2.95 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 20th. Investors of record on Monday, July 11th will be paid a dividend of $0.21 per share. The ex-dividend date of this dividend is Thursday, July 7th. This represents a $0.84 annualized dividend and a yield of 1.93%.
In related news, VP Douglas M. Bennett sold 1,386 shares of the firm’s stock in a transaction dated Thursday, May 5th. The stock was sold at an average price of $41.78, for a total transaction of $57,907.08. Following the completion of the transaction, the vice president now owns 11,059 shares of the company’s stock, valued at $462,045.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Other institutional investors recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in Banner Corp. by 9.3% in the fourth quarter. Rhumbline Advisers now owns 35,857 shares of the financial services provider’s stock worth $1,644,000 after buying an additional 3,050 shares during the period. Bank of Montreal Can raised its position in Banner Corp. by 544.7% in the fourth quarter. Bank of Montreal Can now owns 36,090 shares of the financial services provider’s stock worth $1,655,000 after buying an additional 30,492 shares during the period. New York State Common Retirement Fund raised its position in Banner Corp. by 4.5% in the fourth quarter. New York State Common Retirement Fund now owns 38,103 shares of the financial services provider’s stock worth $1,747,000 after buying an additional 1,636 shares during the period. PNC Financial Services Group Inc. raised its position in Banner Corp. by 18.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 48,431 shares of the financial services provider’s stock worth $2,221,000 after buying an additional 7,535 shares during the period. Finally, Shell Asset Management Co. bought a new position in Banner Corp. during the fourth quarter worth $2,643,000.
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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