Banner Corporation (NASDAQ:BANR) will announce its earnings results after the market closes on Wednesday, July 26th. Analysts expect the company to announce earnings of $0.72 per share for the quarter.
Shares of Banner Corporation (NASDAQ BANR) opened at 55.92 on Monday. Banner Corporation has a 52-week low of $39.62 and a 52-week high of $60.97. The firm’s 50-day moving average is $55.69 and its 200 day moving average is $56.10. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 20.56 and a beta of 1.04.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th were issued a dividend of $1.25 per share. This represents a $5.00 dividend on an annualized basis and a yield of 8.94%. The ex-dividend date was Thursday, July 6th. Banner Corporation’s dividend payout ratio is 36.76%.
Banner Corporation declared that its board has initiated a share buyback program on Friday, March 31st that permits the company to buyback 1,660,000 outstanding shares. This buyback authorization permits the financial services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
A number of equities research analysts have recently commented on the company. BidaskClub upgraded Banner Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research upgraded Banner Corporation from a “hold” rating to a “buy” rating and set a $61.00 target price on the stock in a research note on Wednesday, April 5th. Finally, Piper Jaffray Companies lowered their target price on Banner Corporation from $64.00 to $62.00 and set an “overweight” rating on the stock in a research note on Monday, April 17th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $54.20.
In other news, Director John R. Layman sold 1,800 shares of the company’s stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $57.11, for a total transaction of $102,798.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Douglas M. Bennett sold 889 shares of the company’s stock in a transaction dated Thursday, April 27th. The shares were sold at an average price of $57.00, for a total value of $50,673.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,694 shares of company stock worth $545,921. Company insiders own 1.71% 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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