Zacks Investment Research upgraded shares of Banner (NASDAQ:BANR) from a hold rating to a buy rating in a research note published on Friday. Zacks Investment Research currently has $65.00 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. “
Other equities analysts have also recently issued research reports about the company. ValuEngine upgraded Banner from a hold rating to a buy rating in a report on Friday, September 15th. Keefe, Bruyette & Woods restated a hold rating and issued a $60.00 price objective on shares of Banner in a report on Friday, December 22nd. BidaskClub cut Banner from a buy rating to a hold rating in a report on Tuesday, December 12th. Piper Jaffray Companies restated a neutral rating on shares of Banner in a report on Friday, October 27th. Finally, DA Davidson cut Banner from a buy rating to a neutral rating in a report on Thursday, October 26th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Banner presently has a consensus rating of Hold and an average target price of $61.00.
Shares of Banner (NASDAQ:BANR) traded up $0.76 during midday trading on Friday, hitting $58.43. The stock had a trading volume of 151,300 shares, compared to its average volume of 120,167. The company has a market cap of $1,916.88, a PE ratio of 19.87, a price-to-earnings-growth ratio of 1.92 and a beta of 1.07. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.94 and a quick ratio of 0.93. Banner has a 12 month low of $51.61 and a 12 month high of $62.75.
Banner (NASDAQ:BANR) last announced its quarterly earnings data 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 company 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%. sell-side analysts anticipate that Banner will post 3.05 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Investors of record on Tuesday, January 9th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date of this dividend is Monday, January 8th. Banner’s payout ratio is currently 34.01%.
A number of institutional investors have recently bought and sold shares of BANR. Schwab Charles Investment Management Inc. grew its holdings in Banner by 5.9% during the second quarter. Schwab Charles Investment Management Inc. now owns 128,848 shares of the financial services provider’s stock worth $7,282,000 after purchasing an additional 7,215 shares during the period. Legal & General Group Plc grew its holdings in Banner by 10.0% during the second quarter. Legal & General Group Plc now owns 53,360 shares of the financial services provider’s stock worth $3,016,000 after purchasing an additional 4,855 shares during the period. BNP Paribas Arbitrage SA grew its holdings in Banner by 59.5% during the second quarter. BNP Paribas Arbitrage SA now owns 8,787 shares of the financial services provider’s stock worth $497,000 after purchasing an additional 3,277 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in Banner by 27.2% during the second quarter. State Board of Administration of Florida Retirement System now owns 19,880 shares of the financial services provider’s stock worth $1,123,000 after purchasing an additional 4,248 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Banner by 236.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,135 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 1,500 shares during the period. Institutional investors and hedge funds own 91.58% of the company’s stock.
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Banner 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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