Banner Corporation (BANR) Earns Equal Weight Rating from Analysts at Stephens
Equities researchers at Stephens began coverage on shares of Banner Corporation (NASDAQ:BANR) in a research note issued on Wednesday. The brokerage set an “equal weight” rating on the financial services provider’s stock.
A number of other analysts have also weighed in on BANR. BidaskClub raised shares of Banner Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Zacks Investment Research lowered shares of Banner Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. Five 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 $57.00.
Shares of Banner Corporation (NASDAQ:BANR) opened at 56.27 on Wednesday. The firm has a 50-day moving average price of $55.96 and a 200-day moving average price of $55.82. The firm has a market capitalization of $1.87 billion, a P/E ratio of 19.60 and a beta of 1.05. Banner Corporation has a 52-week low of $42.66 and a 52-week high of $60.97.
Banner Corporation (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, July 26th. The financial services provider reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.06. The business 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%. On average, equities research analysts anticipate that Banner Corporation will post $3.09 EPS for the current year.
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In other Banner Corporation news, Director Gary Sirmon sold 3,333 shares of Banner Corporation stock in a transaction on Monday, June 19th. The shares were sold at an average price of $56.77, for a total transaction of $189,214.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Cynthia D. Purcell sold 1,007 shares of Banner Corporation stock in a transaction on Thursday, August 31st. The stock was 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 11,006 shares of company stock valued at $614,910 in the last ninety days. Company insiders own 1.71% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Stifel Financial Corp grew its holdings in Banner Corporation by 21.3% during the 1st quarter. Stifel Financial Corp now owns 63,242 shares of the financial services provider’s stock worth $3,521,000 after acquiring an additional 11,100 shares during the period. CIBC Asset Management Inc acquired a new stake in Banner Corporation during the 2nd quarter worth $201,000. State Street Corp grew its holdings in Banner Corporation by 1.8% during the 1st quarter. State Street Corp now owns 988,859 shares of the financial services provider’s stock worth $55,021,000 after acquiring an additional 17,021 shares during the period. Principal Financial Group Inc. grew its holdings in Banner Corporation by 2.6% during the 1st quarter. Principal Financial Group Inc. now owns 202,923 shares of the financial services provider’s stock worth $11,291,000 after acquiring an additional 5,106 shares during the period. Finally, Nuveen Asset Management LLC grew its holdings in Banner Corporation by 42.7% during the 1st quarter. Nuveen Asset Management LLC now owns 555,726 shares of the financial services provider’s stock worth $30,921,000 after acquiring an additional 166,373 shares during the period. 89.14% 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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