Banner Corp. Downgraded to Neutral at Zacks (BANR)
Banner Corp. (NASDAQ:BANR) was downgraded by Zacks from an “outperform” rating to a “neutral” rating in a research report issued to clients and investors on Tuesday, ARN reports. They currently have a $41.60 price target on the stock. Zacks‘ price objective suggests a potential upside of 8.08% from the stock’s previous close.
Shares of Banner Corp. (NASDAQ:BANR) traded up 0.86% on Tuesday, hitting $38.49. The stock had a trading volume of 83,573 shares. Banner Corp. has a 1-year low of $26.49 and a 1-year high of $38.58. The stock has a 50-day moving average of $36.03 and a 200-day moving average of $34.05. The company has a market cap of $751.0 million and a P/E ratio of 14.25.
Banner Corp. (NASDAQ:BANR) last posted its quarterly earnings results on Wednesday, July 24th. The company reported $0.60 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.58 by $0.02. Analysts expect that Banner Corp. will post $2.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, October 16th. Investors of record on Monday, October 7th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.56%. The ex-dividend date is Thursday, October 3rd. This is an increase from Banner Corp.’s previous quarterly dividend of $0.12.
BANR has been the subject of a number of other recent research reports. Analysts at Raymond James raised their price target on shares of Banner Corp. (NASDAQ:BANR) from $40.00 to $41.00 in a research note to investors on Monday. They now have an “outperform” rating on the stock. Separately, analysts at Keefe, Bruyette & Woods raised their price target on shares of Banner Corp. (NASDAQ:BANR) from $40.00 to $42.00 in a research note to investors on Thursday, September 26th. Finally, analysts at FIG Partners downgraded shares of Banner Corp. (NASDAQ:BANR) to a “market perform” rating in a research note to investors on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Banner Corp. presently has an average rating of “Hold” and an average price target of $39.90.
Banner Corporation (NASDAQ:BANR) is a bank holding company.
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