Banner (BANR) Lowered to “Hold” at BidaskClub

BidaskClub downgraded shares of Banner (NASDAQ:BANR) from a buy rating to a hold rating in a report published on Wednesday.

BANR has been the subject of a number of other reports. Zacks Investment Research downgraded shares of Banner from a hold rating to a sell rating in a report on Friday, April 20th. Stephens reissued a hold rating and issued a $60.00 price target on shares of Banner in a report on Tuesday, April 24th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Banner presently has an average rating of Hold and an average price target of $60.25.

Shares of Banner opened at $59.98 on Wednesday, according to MarketBeat.com. Banner has a twelve month low of $52.20 and a twelve month high of $62.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.92 and a quick ratio of 0.90. The stock has a market capitalization of $1.98 billion, a price-to-earnings ratio of 20.06, a price-to-earnings-growth ratio of 1.74 and a beta of 0.97.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Monday, April 23rd. The financial services provider reported $0.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.08. Banner had a net margin of 12.85% and a return on equity of 8.00%. The company had revenue of $118.74 million during the quarter, compared to the consensus estimate of $118.23 million. equities research analysts forecast that Banner will post 3.53 EPS for the current year.

Banner announced that its board has approved a share repurchase plan on Wednesday, March 28th that permits the company to buyback 1,620,000 shares. This buyback authorization permits the financial services provider to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

In other Banner news, VP Steven W. Rust sold 511 shares of the company’s stock in a transaction dated Friday, April 27th. The shares were sold at an average price of $57.82, for a total transaction of $29,546.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.76% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently bought and sold shares of the business. Dimensional Fund Advisors LP lifted its stake in Banner by 10.8% during the first quarter. Dimensional Fund Advisors LP now owns 2,357,544 shares of the financial services provider’s stock valued at $130,820,000 after buying an additional 229,699 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Banner by 0.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,571,088 shares of the financial services provider’s stock valued at $86,599,000 after buying an additional 9,312 shares in the last quarter. Nuveen Asset Management LLC lifted its stake in Banner by 5.3% during the first quarter. Nuveen Asset Management LLC now owns 835,427 shares of the financial services provider’s stock valued at $46,358,000 after buying an additional 42,165 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Banner by 369.5% during the first quarter. JPMorgan Chase & Co. now owns 549,881 shares of the financial services provider’s stock valued at $30,512,000 after buying an additional 432,756 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in Banner by 242.3% during the fourth quarter. Millennium Management LLC now owns 462,513 shares of the financial services provider’s stock valued at $25,494,000 after buying an additional 327,377 shares in the last quarter. 92.38% of the stock is owned by institutional investors.

Banner Company Profile

Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank, which provides commercial banking and financial products and services to individuals, businesses, and public sector entities primarily in the United States. It offers deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans.

Analyst Recommendations for Banner (NASDAQ:BANR)

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