Zacks Investment Research lowered shares of Banner Corporation (NASDAQ:BANR) from a hold rating to a sell rating in a research report sent to investors 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. “

Other equities analysts have also recently issued reports about the company. ValuEngine cut Banner Corporation from a buy rating to a hold rating in a report on Tuesday, October 10th. DA Davidson cut Banner Corporation from a buy rating to a neutral rating in a report on Thursday, October 26th. Piper Jaffray Companies reiterated a neutral rating on shares of Banner Corporation in a report on Friday, October 27th. BidaskClub cut Banner Corporation from a hold rating to a sell rating in a report on Thursday, July 27th. Finally, Stephens began coverage on Banner Corporation in a report on Wednesday, September 13th. They set an equal weight rating and a $60.00 price target for the company. One equities research analyst has rated the stock with a sell rating and six have issued a hold rating to the company. Banner Corporation presently has an average rating of Hold and an average price target of $60.67.

Shares of Banner Corporation (BANR) traded up $0.58 on Monday, hitting $57.59. The company’s stock had a trading volume of 125,486 shares, compared to its average volume of 181,679. The firm has a market capitalization of $1.91 billion, a price-to-earnings ratio of 19.30, a P/E/G ratio of 2.04 and a beta of 1.07. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.93 and a current ratio of 0.94.

Banner Corporation (NASDAQ:BANR) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.01). Banner Corporation had a return on equity of 7.52% and a net margin of 19.70%. The company had revenue of $120.55 million during the quarter, compared to analyst estimates of $123.58 million. equities analysts predict that Banner Corporation will post 3.13 earnings per share for the current fiscal year.

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The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 18th. Stockholders of record on Tuesday, October 10th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Friday, October 6th. Banner Corporation’s dividend payout ratio is presently 34.01%.

In other news, VP Cynthia D. Purcell sold 1,007 shares of the 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gary Sirmon sold 3,335 shares of the firm’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $57.49, for a total value of $191,729.15. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,925 shares of company stock valued at $446,739. Company insiders own 1.71% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA boosted its holdings in Banner Corporation by 133.9% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 20,555 shares of the financial services provider’s stock valued at $1,260,000 after acquiring an additional 11,768 shares during the period. Alps Advisors Inc. purchased a new position in Banner Corporation during the 3rd quarter valued at about $512,000. Principal Financial Group Inc. boosted its holdings in Banner Corporation by 24.6% during the 3rd quarter. Principal Financial Group Inc. now owns 254,257 shares of the financial services provider’s stock valued at $15,581,000 after acquiring an additional 50,191 shares during the period. Prudential Financial Inc. boosted its holdings in Banner Corporation by 14.2% during the 3rd quarter. Prudential Financial Inc. now owns 81,013 shares of the financial services provider’s stock valued at $4,964,000 after acquiring an additional 10,060 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its holdings in Banner Corporation by 35.3% during the 3rd quarter. State Board of Administration of Florida Retirement System now owns 26,890 shares of the financial services provider’s stock valued at $1,648,000 after acquiring an additional 7,010 shares during the period. Institutional investors own 88.61% 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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