Banner Corp. (BANR) Insider Cynthia D. Purcell Sells 400 Shares of Stock
Banner Corp. (NASDAQ:BANR) insider Cynthia D. Purcell sold 400 shares of the firm’s stock in a transaction dated Thursday, September 15th. The stock was sold at an average price of $43.25, for a total value of $17,300.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Banner Corp. (NASDAQ:BANR) opened at 43.84 on Wednesday. The company has a market cap of $1.51 billion, a P/E ratio of 23.01 and a beta of 1.70. The company’s 50-day moving average price is $43.16 and its 200 day moving average price is $42.63. Banner Corp. has a 52 week low of $35.39 and a 52 week high of $53.55.
Banner Corp. (NASDAQ:BANR) last announced its earnings results on Tuesday, July 26th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.05. Banner Corp. had a net margin of 13.96% and a return on equity of 6.70%. Equities research analysts anticipate that Banner Corp. will post $2.80 earnings per share for the current fiscal 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 valued at $111,000 after buying an additional 120 shares in the last quarter. Mason Street Advisors LLC acquired a new position in shares of Banner Corp. during the second quarter valued at about $171,000. 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 valued at $260,000 after buying an additional 118 shares in the last quarter. 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 valued at $258,000 after buying an additional 3,219 shares in the last quarter. 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 valued at $293,000 after buying an additional 3,836 shares in the last quarter. 77.17% of the stock is currently owned by institutional investors.
BANR has been the topic of several recent research reports. Zacks Investment Research downgraded Banner Corp. from a “hold” rating to a “sell” rating in a research note on Friday, July 15th. Keefe, Bruyette & Woods decreased their price objective on 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. FBR & Co decreased their price objective on 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. Finally, DA Davidson reaffirmed a “buy” rating and issued 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 issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $50.40.
Banner Corp. 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 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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