Banner Corporation (BANR) Stock Rating Upgraded by ValuEngine
Banner Corporation (NASDAQ:BANR) was upgraded by equities research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.
Several other analysts have also weighed in on the company. Zacks Investment Research lowered Banner Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, June 27th. BidaskClub lowered Banner Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 21st. Finally, Stephens started coverage on Banner Corporation in a research note on Wednesday. They issued an “equal weight” rating and a $60.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $57.75.
Banner Corporation (BANR) traded up 0.94% on Friday, hitting $57.11. The company had a trading volume of 1,122,739 shares. Banner Corporation has a 12-month low of $42.93 and a 12-month high of $60.97. The firm has a 50-day moving average price of $55.88 and a 200-day moving average price of $55.80. The firm has a market capitalization of $1.90 billion, a PE ratio of 19.89 and a beta of 1.05.
Banner Corporation (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.06. The business had revenue of $122.18 million for the quarter, compared to analyst estimates of $119.46 million. Banner Corporation had a return on equity of 7.50% and a net margin of 19.63%. On average, equities research analysts anticipate that Banner Corporation will post $3.10 earnings per share for the current fiscal year.
In other Banner Corporation news, VP Cynthia D. Purcell sold 1,007 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $55.61, for a total value of $55,999.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Gary Sirmon sold 3,333 shares of the stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $56.77, for a total value of $189,214.41. The disclosure for this sale can be found here. Insiders sold 11,256 shares of company stock valued at $629,073 over the last quarter. Corporate insiders own 1.71% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP bought a new position in Banner Corporation in the first quarter valued at about $107,000. Creative Planning raised its position in Banner Corporation by 4.6% in the second quarter. Creative Planning now owns 1,913 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 85 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Banner Corporation by 236.2% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,135 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 1,500 shares during the last quarter. Riverhead Capital Management LLC raised its position in Banner Corporation by 182.8% in the second quarter. Riverhead Capital Management LLC now owns 2,262 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 1,462 shares during the last quarter. Finally, Ameritas Investment Partners Inc. bought a new position in Banner Corporation in the first quarter valued at about $144,000. Hedge funds and other institutional investors own 89.14% of the company’s stock.
Banner Corporation 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 Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.
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