Banner Corp. (BANR) Receives Average Recommendation of “Buy” from Brokerages
Banner Corp. (NASDAQ:BANR) has earned a consensus recommendation of “Buy” from the eight brokerages that are presently covering the company. Two analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $50.00.
BANR has been the topic of a number of analyst reports. Zacks Investment Research upgraded Banner Corp. from a “sell” rating to a “hold” rating in a research note on Monday, September 19th. DA Davidson restated a “buy” rating and issued a $52.00 target price on shares of Banner Corp. in a research note on Tuesday, August 23rd. FBR & Co upped their target price on Banner Corp. from $45.00 to $46.00 and gave the stock a “mkt perform” rating in a research note on Tuesday. Finally, 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 note on Thursday, July 28th.
Several institutional investors have recently bought and sold shares of BANR. Prudential Financial Inc. boosted its position in Banner Corp. by 12.6% in the first quarter. Prudential Financial Inc. now owns 107,927 shares of the financial services provider’s stock worth $4,537,000 after buying an additional 12,100 shares during the last quarter. BlackRock Group LTD boosted its position in Banner Corp. by 7.5% in the first quarter. BlackRock Group LTD now owns 27,996 shares of the financial services provider’s stock worth $1,178,000 after buying an additional 1,954 shares during the last quarter. Menta Capital LLC boosted its position in Banner Corp. by 65.3% in the first quarter. Menta Capital LLC now owns 8,100 shares of the financial services provider’s stock worth $341,000 after buying an additional 3,200 shares during the last quarter. Kennedy Capital Management Inc. boosted its position in Banner Corp. by 3.7% in the first quarter. Kennedy Capital Management Inc. now owns 450,450 shares of the financial services provider’s stock worth $18,937,000 after buying an additional 16,278 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in Banner Corp. by 6.3% in the first quarter. Renaissance Technologies LLC now owns 445,499 shares of the financial services provider’s stock worth $18,729,000 after buying an additional 26,600 shares during the last quarter. Hedge funds and other institutional investors own 77.17% of the company’s stock.
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Shares of Banner Corp. (NASDAQ:BANR) traded up 0.65% during trading on Wednesday, hitting $44.62. The stock had a trading volume of 28,755 shares. The firm has a 50-day moving average price of $43.82 and a 200 day moving average price of $42.86. Banner Corp. has a 52 week low of $35.39 and a 52 week high of $53.55. The company has a market capitalization of $1.53 billion, a PE ratio of 23.42 and a beta of 1.63.
Banner Corp. (NASDAQ:BANR) last released its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by $0.05. Banner Corp. had a net margin of 13.96% and a return on equity of 6.70%. Equities analysts anticipate that Banner Corp. will post $2.81 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Monday, October 10th will be issued a $0.23 dividend. This is a boost from Banner Corp.’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Wednesday, October 5th. Banner Corp.’s dividend payout ratio is presently 47.18%.
About Banner Corp.
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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