Shares of Banner Co. (NASDAQ:BANR) have received a consensus rating of “Hold” from the nine analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, four have given a hold recommendation and three have issued a buy recommendation on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $62.20.
A number of analysts recently weighed in on the company. Zacks Investment Research upgraded Banner from a “hold” rating to a “buy” rating and set a $60.00 price target on the stock in a research note on Wednesday, March 27th. ValuEngine cut Banner from a “hold” rating to a “sell” rating in a report on Thursday, March 21st. Finally, BidaskClub raised Banner from a “hold” rating to a “buy” rating in a report on Wednesday, February 20th.
In related news, Director Cheryl R. Bishop sold 11,943 shares of Banner stock in a transaction on Friday, February 22nd. The stock was sold at an average price of $63.62, for a total transaction of $759,813.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.51% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Enlightenment Research LLC acquired a new position in Banner during the fourth quarter worth $27,000. Public Employees Retirement System of Ohio raised its holdings in shares of Banner by 47.8% in the fourth quarter. Public Employees Retirement System of Ohio now owns 563 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 182 shares during the last quarter. Huntington National Bank raised its holdings in shares of Banner by 1,669.4% in the first quarter. Huntington National Bank now owns 637 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 601 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of Banner in the fourth quarter worth $54,000. Finally, Meeder Asset Management Inc. raised its holdings in shares of Banner by 357.6% in the fourth quarter. Meeder Asset Management Inc. now owns 2,128 shares of the financial services provider’s stock worth $114,000 after acquiring an additional 1,663 shares during the last quarter. 83.75% of the stock is owned by hedge funds and other institutional investors.
Shares of Banner stock traded down $0.91 during trading on Thursday, reaching $54.64. The company’s stock had a trading volume of 92,452 shares, compared to its average volume of 199,000. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.93. Banner has a 12-month low of $48.50 and a 12-month high of $67.11. The company has a market cap of $1.95 billion, a PE ratio of 13.36, a price-to-earnings-growth ratio of 1.83 and a beta of 0.77.
Banner (NASDAQ:BANR) last posted its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $1.09 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.04 by $0.05. Banner had a return on equity of 10.43% and a net margin of 24.90%. The firm had revenue of $139.16 million for the quarter, compared to the consensus estimate of $134.25 million. On average, equities research analysts anticipate that Banner will post 4.3 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 18th. Investors of record on Tuesday, April 9th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, April 8th. This is a boost from Banner’s previous quarterly dividend of $0.38. This represents a $1.64 annualized dividend and a yield of 3.00%. Banner’s payout ratio is currently 40.10%.
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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