Banner (BANR) Upgraded by Zacks Investment Research to Hold
Zacks Investment Research upgraded shares of Banner (NASDAQ:BANR) from a sell rating to a hold rating in a report released 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 research analysts have also issued research reports about the stock. ValuEngine upgraded shares of Banner from a hold rating to a buy rating in a research note on Friday, September 15th. Piper Jaffray Companies lowered shares of Banner from an overweight rating to a neutral rating and set a $59.00 price target for the company. in a research note on Thursday, October 26th. DA Davidson lowered shares of Banner from a buy rating to a neutral rating in a research note on Thursday, October 26th. Keefe, Bruyette & Woods reiterated a hold rating and issued a $60.00 price objective on shares of Banner in a research note on Friday, December 22nd. Finally, BidaskClub lowered shares of Banner from a buy rating to a hold rating in a research note on Tuesday, December 12th. Seven investment analysts have rated the stock with a hold rating, The company currently has an average rating of Hold and a consensus target price of $60.50.
Shares of Banner (NASDAQ BANR) traded down $0.91 during midday trading on Monday, reaching $55.12. 93,700 shares of the company traded hands, compared to its average volume of 153,098. Banner has a twelve month low of $51.61 and a twelve month high of $62.75. The company has a market cap of $1,808.29, a PE ratio of 18.75, a price-to-earnings-growth ratio of 1.98 and a beta of 1.07. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 0.94.
Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.76 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.01). The business had revenue of $120.55 million during the quarter, compared to the consensus estimate of $123.58 million. Banner had a net margin of 19.70% and a return on equity of 7.52%. equities analysts predict that Banner will post 3.09 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Shareholders of record on Tuesday, January 9th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.81%. The ex-dividend date is Monday, January 8th. Banner’s payout ratio is 34.01%.
A number of large investors have recently made changes to their positions in BANR. Janus Henderson Group PLC bought a new position in Banner in the 2nd quarter valued at $77,217,000. BlackRock Inc. raised its position in Banner by 6.0% in the 2nd quarter. BlackRock Inc. now owns 3,925,169 shares of the financial services provider’s stock worth $221,812,000 after purchasing an additional 221,159 shares during the period. Dimensional Fund Advisors LP raised its position in Banner by 6.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,916,291 shares of the financial services provider’s stock worth $108,291,000 after purchasing an additional 116,608 shares during the period. Bank of New York Mellon Corp raised its position in Banner by 4.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 2,405,805 shares of the financial services provider’s stock worth $147,428,000 after purchasing an additional 110,369 shares during the period. Finally, Ameriprise Financial Inc. raised its position in Banner by 15.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 463,304 shares of the financial services provider’s stock worth $28,392,000 after purchasing an additional 60,505 shares during the period. 91.58% of the stock is owned by hedge funds and other institutional investors.
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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