Banner Corp. (BANR) Price Target Raised to $46.00 at FBR & Co
Banner Corp. (NASDAQ:BANR) had its price objective hoisted by analysts at FBR & Co from $45.00 to $46.00 in a research note issued on Tuesday, StockTargetPrices.com reports. The brokerage presently has a “mkt perform” rating on the financial services provider’s stock. FBR & Co’s target price would suggest a potential upside of 2.72% from the company’s current price.
A number of other equities research analysts also recently commented on BANR. Zacks Investment Research downgraded Banner Corp. from a “hold” rating to a “sell” rating in a research report on Friday, July 15th. Keefe, Bruyette & Woods decreased their target price on Banner Corp. from $49.00 to $48.00 and set a “market perform” rating on the stock in a research report on Thursday, July 28th. Finally, DA Davidson reiterated a “buy” rating and issued a $52.00 target price on shares of Banner Corp. in a research report on Tuesday, August 23rd. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $50.00.
Shares of Banner Corp. (NASDAQ:BANR) opened at 44.78 on Tuesday. The stock has a market cap of $1.54 billion, a PE ratio of 23.51 and a beta of 1.63. Banner Corp. has a 12-month low of $35.39 and a 12-month high of $53.55. The firm has a 50-day moving average price of $43.78 and a 200 day moving average price of $42.85.
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Banner Corp. (NASDAQ:BANR) last announced its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.72 by $0.05. Banner Corp. had a net margin of 13.96% and a return on equity of 6.70%. Equities research analysts expect that Banner Corp. will post $2.81 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Monday, October 10th will be paid a dividend of $0.23 per share. This is a boost from Banner Corp.’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, October 5th. Banner Corp.’s payout ratio is presently 47.18%.
Large investors have recently modified their holdings of the company. Mason Street Advisors LLC bought a new stake in shares of Banner Corp. during the second quarter valued at $171,000. Schwab Charles Investment Management Inc. boosted its position in Banner Corp. by 18.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 90,586 shares of the financial services provider’s stock worth $3,854,000 after buying an additional 13,994 shares in the last quarter. Stifel Financial Corp boosted its position in Banner Corp. by 2.2% in the second quarter. Stifel Financial Corp now owns 53,304 shares of the financial services provider’s stock worth $2,267,000 after buying an additional 1,162 shares in the last quarter. Legal & General Group Plc boosted its position in Banner Corp. by 45.2% in the second quarter. Legal & General Group Plc now owns 8,877 shares of the financial services provider’s stock worth $373,000 after buying an additional 2,762 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in Banner Corp. by 51.6% in the second quarter. Metropolitan Life Insurance Co. NY now owns 21,896 shares of the financial services provider’s stock worth $931,000 after buying an additional 7,454 shares in the last quarter. 77.17% of the stock is currently owned by institutional investors.
Banner Corp. 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 regional bank that offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its market areas.
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