Zacks Investment Research upgraded shares of Banner Corporation (NASDAQ:BANR) from a sell rating to a buy rating in a research report sent to investors on Monday, July 3rd. Zacks Investment Research currently has $63.00 price target on the financial services provider’s stock.
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. “
A number of other equities analysts also recently issued reports on the company. Piper Jaffray Companies lowered their price target on Banner Corporation from $64.00 to $62.00 and set an overweight rating for the company in a report on Monday, April 17th. BidaskClub raised Banner Corporation from a hold rating to a buy rating in a report on Wednesday, June 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $55.75.
Banner Corporation (BANR) traded down 0.75% during trading on Monday, hitting $57.88. 142,514 shares of the company’s stock were exchanged. The firm has a 50 day moving average price of $56.27 and a 200 day moving average price of $56.13. The company has a market cap of $1.92 billion, a price-to-earnings ratio of 21.28 and a beta of 1.04. Banner Corporation has a 52-week low of $39.62 and a 52-week high of $60.97.
Banner Corporation (NASDAQ:BANR) last released its earnings results on Wednesday, July 26th. The financial services provider reported $0.78 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.72 by $0.06. Banner Corporation had a net margin of 19.63% and a return on equity of 7.50%. The firm had revenue of $122.18 million for the quarter, compared to analyst estimates of $119.46 million. On average, equities research analysts predict that Banner Corporation will post $2.99 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Investors of record on Monday, July 10th were given a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 8.64%. The ex-dividend date of this dividend was Thursday, July 6th. Banner Corporation’s dividend payout ratio is presently 34.72%.
In other news, Director Gary Sirmon sold 3,333 shares of Banner Corporation stock in a transaction dated Tuesday, July 18th. The stock was sold at an average price of $55.46, for a total value of $184,848.18. The transaction was disclosed in a document filed with the SEC, which is available through this link. Over the last three months, insiders sold 7,005 shares of company stock worth $392,450. 1.71% of the stock is owned by corporate insiders.
Several institutional investors have recently added to or reduced their stakes in BANR. Teachers Advisors LLC raised its position in Banner Corporation by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 276,302 shares of the financial services provider’s stock valued at $15,420,000 after buying an additional 14,975 shares in the last quarter. FFL Partners LLC acquired a new position in shares of Banner Corporation during the fourth quarter worth about $5,448,000. Norges Bank acquired a new position in shares of Banner Corporation during the fourth quarter worth about $12,175,000. Thrivent Financial for Lutherans raised its position in shares of Banner Corporation by 131.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 31,380 shares of the financial services provider’s stock worth $1,751,000 after buying an additional 17,820 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its stake in shares of Banner Corporation by 1.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 7,600 shares of the financial services provider’s stock valued at $424,000 after buying an additional 100 shares during the period. 88.71% of the stock is currently owned by institutional investors and hedge funds.
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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