BidaskClub upgraded shares of Banner (NASDAQ:BANR) from a hold rating to a buy rating in a report released on Thursday.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research cut Banner from a buy rating to a hold rating in a research report on Tuesday, February 27th. Stephens reissued a hold rating and set a $60.00 price objective on shares of Banner in a research report on Tuesday, April 24th. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $60.25.
NASDAQ BANR opened at $62.08 on Thursday. Banner has a twelve month low of $52.20 and a twelve month high of $62.98. The company has a quick ratio of 0.90, a current ratio of 0.92 and a debt-to-equity ratio of 0.32. The stock has a market cap of $2.02 billion, a P/E ratio of 19.90, a price-to-earnings-growth ratio of 1.77 and a beta of 0.97.
Banner (NASDAQ:BANR) last posted its quarterly earnings data on Monday, April 23rd. The financial services provider reported $0.81 earnings per share for the quarter, topping the consensus estimate of $0.73 by $0.08. Banner had a return on equity of 8.00% and a net margin of 12.85%. The business had revenue of $118.74 million during the quarter, compared to analysts’ expectations of $118.23 million. analysts expect that Banner will post 3.53 EPS for the current year.
Banner declared that its board has approved a stock repurchase plan on Wednesday, March 28th that permits the company to repurchase 1,620,000 shares. This repurchase authorization permits the financial services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
In other Banner news, VP Steven W. Rust sold 511 shares of the company’s stock in a transaction that occurred on Friday, April 27th. The stock was sold at an average price of $57.82, for a total value of $29,546.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.71% of the company’s stock.
A number of institutional investors have recently bought and sold shares of BANR. Schwab Charles Investment Management Inc. raised its holdings in Banner by 5.4% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 159,168 shares of the financial services provider’s stock valued at $8,774,000 after acquiring an additional 8,142 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Banner in the 4th quarter valued at approximately $601,000. California Public Employees Retirement System raised its holdings in Banner by 9.4% in the 4th quarter. California Public Employees Retirement System now owns 64,765 shares of the financial services provider’s stock valued at $3,570,000 after acquiring an additional 5,554 shares in the last quarter. Swiss National Bank raised its holdings in Banner by 4.2% in the 4th quarter. Swiss National Bank now owns 54,600 shares of the financial services provider’s stock valued at $3,010,000 after acquiring an additional 2,200 shares in the last quarter. Finally, Wells Fargo & Company MN raised its holdings in Banner by 30.1% in the 4th quarter. Wells Fargo & Company MN now owns 118,350 shares of the financial services provider’s stock valued at $6,523,000 after acquiring an additional 27,389 shares in the last quarter. 92.38% of the stock is owned by hedge funds and other 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.
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