Zacks Investment Research upgraded shares of Banner (NASDAQ:BANR) from a sell rating to a hold rating in a report issued on Tuesday, December 26th.
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. “
BANR has been the topic of a number of other reports. Piper Jaffray Companies reaffirmed a neutral rating on shares of Banner in a report on Friday, October 27th. ValuEngine downgraded shares of Banner from a buy rating to a hold rating in a report on Saturday, November 25th. Stephens initiated coverage on shares of Banner in a report on Wednesday, September 13th. They set an equal weight rating and a $60.00 price objective on the stock. Keefe, Bruyette & Woods reaffirmed a hold rating and set a $60.00 price objective on shares of Banner in a report on Friday, December 22nd. Finally, BidaskClub downgraded shares of Banner from a buy rating to a hold rating in a report on Tuesday, December 12th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Banner currently has an average rating of Hold and an average price target of $61.00.
Shares of Banner (NASDAQ:BANR) opened at $58.42 on Tuesday. Banner has a 52-week low of $51.61 and a 52-week high of $62.75. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.94 and a quick ratio of 0.93. The stock has a market cap of $1,940.00, a price-to-earnings ratio of 19.87, a P/E/G ratio of 1.89 and a beta of 1.07.
Banner (NASDAQ:BANR) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.77 by ($0.01). The business had revenue of $120.55 million during the quarter, compared to analyst estimates of $123.58 million. Banner had a net margin of 19.70% and a return on equity of 7.52%. equities analysts forecast that Banner will post 3.05 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Tuesday, January 9th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Monday, January 8th. Banner’s payout ratio is 34.01%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in BANR. Janus Henderson Group PLC bought a new stake in shares of Banner during the 2nd quarter worth $77,217,000. BlackRock Inc. raised its stake in shares of Banner by 6.0% during the 2nd quarter. BlackRock Inc. now owns 3,925,169 shares of the financial services provider’s stock worth $221,812,000 after purchasing an additional 221,159 shares during the period. Dimensional Fund Advisors LP raised its stake in shares of Banner by 6.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,916,291 shares of the financial services provider’s stock worth $108,291,000 after purchasing an additional 116,608 shares during the period. Bank of New York Mellon Corp raised its stake in shares of Banner by 4.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,405,805 shares of the financial services provider’s stock worth $147,428,000 after purchasing an additional 110,369 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Banner by 15.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 463,304 shares of the financial services provider’s stock worth $28,392,000 after purchasing an additional 60,505 shares during the period. Institutional investors 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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