Banner Corporation (NASDAQ:BANR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

According to Zacks, “Banner Corporation is a bank holding company operating two commercial banks in five Western states through a network of branches offering a full range of deposit services and business, commercial real estate, construction, residential, agricultural and consumer loans. “

Other analysts also recently issued research reports about the company. BidaskClub raised Banner Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, August 5th. ValuEngine raised Banner Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 15th. Piper Jaffray Companies downgraded Banner Corporation from an “overweight” rating to a “neutral” rating and set a $59.00 price target on the stock. in a research note on Thursday. DA Davidson downgraded Banner Corporation from a “buy” rating to a “neutral” rating in a research note on Thursday. Finally, Stephens began coverage on Banner Corporation in a research note on Wednesday, September 13th. They issued an “equal weight” rating and a $60.00 price target on the stock. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $60.67.

Shares of Banner Corporation (NASDAQ:BANR) traded down 2.21% on Monday, reaching $56.60. The company’s stock had a trading volume of 551,091 shares. The company has a 50 day moving average price of $59.77 and a 200 day moving average price of $56.70. The company has a market cap of $1.88 billion, a P/E ratio of 19.71 and a beta of 1.04. Banner Corporation has a 52-week low of $44.12 and a 52-week high of $62.75.

Banner Corporation (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.77 by ($0.01). Banner Corporation had a net margin of 19.70% and a return on equity of 7.52%. The firm had revenue of $120.55 million during the quarter, compared to analyst estimates of $123.58 million. On average, analysts anticipate that Banner Corporation will post $3.09 earnings per share for the current fiscal year.

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In other news, VP Cynthia D. Purcell sold 1,007 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Gary Sirmon sold 3,333 shares of the firm’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $55.46, for a total value of $184,848.18. The disclosure for this sale can be found here. Insiders sold a total of 7,925 shares of company stock valued at $446,739 in the last 90 days. 1.71% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Creative Planning grew its holdings in shares of Banner Corporation by 0.3% in the 1st quarter. Creative Planning now owns 1,828 shares of the financial services provider’s stock valued at $102,000 after acquiring an additional 6 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Banner Corporation in the 1st quarter valued at about $107,000. PineBridge Investments L.P. grew its holdings in shares of Banner Corporation by 4.8% in the 2nd quarter. PineBridge Investments L.P. now owns 2,606 shares of the financial services provider’s stock valued at $111,000 after acquiring an additional 120 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Banner Corporation by 236.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,135 shares of the financial services provider’s stock valued at $121,000 after acquiring an additional 1,500 shares in the last quarter. Finally, Riverhead Capital Management LLC grew its holdings in shares of Banner Corporation by 182.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,262 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 1,462 shares in the last quarter. Institutional investors own 88.61% 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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