Zacks Investment Research upgraded shares of Banner Corp. (NASDAQ:BANR) from a sell rating to a hold rating in a report published on Monday morning.

According to Zacks, “Banner Corporation is a bank holding company operating two commercial banks in five Western states through a network of branches offering a full range of deposit services and business, commercial real estate, construction, residential, agricultural and consumer loans. “

Several other research firms have also weighed in on BANR. FBR & Co lowered their price objective on shares of Banner Corp. from $50.00 to $48.00 and set a market perform rating on the stock in a research note on Friday, July 29th. Keefe, Bruyette & Woods lowered their price objective on shares of Banner Corp. from $49.00 to $48.00 and set a market perform rating on the stock in a research note on Thursday, July 28th. Finally, DA Davidson restated a buy rating and set a $52.00 price objective on shares of Banner Corp. in a research note on Tuesday, August 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $50.40.

Banner Corp. (NASDAQ:BANR) opened at 43.82 on Monday. Banner Corp. has a 1-year low of $35.39 and a 1-year high of $53.55. The firm has a market cap of $1.51 billion, a PE ratio of 23.00 and a beta of 1.70. The company has a 50 day moving average price of $43.09 and a 200 day moving average price of $42.62.

Banner Corp. (NASDAQ:BANR) last issued its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.67 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 research analysts forecast that Banner Corp. will post $2.80 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. PineBridge Investments L.P. raised its position in shares of 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 during the period. Mason Street Advisors LLC bought a new position in shares of Banner Corp. during the second quarter worth approximately $171,000. Legal & General Group Plc raised its position in shares of Banner Corp. by 111.2% in the first quarter. Legal & General Group Plc now owns 6,115 shares of the financial services provider’s stock worth $258,000 after buying an additional 3,219 shares during the period. MUFG Americas Holdings Corp raised its position in shares of 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 period. Finally, BNP Paribas Arbitrage SA raised its position in shares of 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 period. Institutional investors and hedge funds own 77.17% of the company’s stock.

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.

5 Day Chart for NASDAQ:BANR

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