Banner (NASDAQ:BANR) Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of Banner (NASDAQ:BANR) from a hold rating to a sell rating in a report issued on Saturday morning.

Several other equities research analysts have also commented on BANR. Piper Sandler reaffirmed a “neutral” rating and set a $70.00 price target on shares of Banner in a research report on Monday, December 1st. DA Davidson decreased their price target on shares of Banner from $73.00 to $69.00 and set a “neutral” rating on the stock in a research report on Friday, October 17th. Keefe, Bruyette & Woods boosted their price objective on shares of Banner from $73.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, October 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Banner in a report on Wednesday, January 21st. Finally, Raymond James Financial reissued an “outperform” rating and set a $70.00 price target (down previously from $72.00) on shares of Banner in a report on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Banner currently has an average rating of “Hold” and a consensus price target of $71.17.

Banner Stock Up 2.0%

Shares of Banner stock opened at $63.09 on Friday. Banner has a twelve month low of $54.01 and a twelve month high of $71.75. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The company’s 50 day moving average is $64.33 and its 200 day moving average is $64.04. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 11.19 and a beta of 0.90.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, January 21st. The financial services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.09. Banner had a net margin of 22.26% and a return on equity of 10.46%. The business had revenue of $169.90 million during the quarter, compared to analyst estimates of $173.23 million. Research analysts anticipate that Banner will post 5.23 EPS for the current year.

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Shareholders of record on Tuesday, February 3rd will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, February 3rd. Banner’s dividend payout ratio (DPR) is 35.46%.

Hedge Funds Weigh In On Banner

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. increased its holdings in Banner by 1.3% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,291 shares of the financial services provider’s stock valued at $871,000 after acquiring an additional 171 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Banner by 0.4% in the 3rd quarter. First Trust Advisors LP now owns 41,634 shares of the financial services provider’s stock worth $2,727,000 after buying an additional 175 shares during the last quarter. US Bancorp DE grew its position in Banner by 8.9% in the third quarter. US Bancorp DE now owns 2,154 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 176 shares in the last quarter. Arizona State Retirement System grew its position in Banner by 1.8% in the third quarter. Arizona State Retirement System now owns 10,240 shares of the financial services provider’s stock worth $671,000 after acquiring an additional 177 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Banner by 19.4% during the third quarter. GAMMA Investing LLC now owns 1,137 shares of the financial services provider’s stock worth $74,000 after acquiring an additional 185 shares during the last quarter. Institutional investors own 87.33% of the company’s stock.

About Banner

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.