Shares of Banner Corporation (NASDAQ:BANR – Get Free Report) have earned a consensus rating of “Moderate Buy” from the six ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment 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 analysts that have issued a report on the stock in the last year is $70.83.
BANR has been the topic of several analyst reports. Wall Street Zen cut Banner from a “hold” rating to a “sell” rating in a research note on Thursday, May 29th. Keefe, Bruyette & Woods decreased their price target on Banner from $75.00 to $73.00 and set a “market perform” rating on the stock in a report on Monday, April 21st. Stephens restated an “overweight” rating and issued a $73.00 price target on shares of Banner in a research report on Monday, April 21st. Janney Montgomery Scott raised shares of Banner from a “neutral” rating to a “buy” rating and set a $71.00 price objective for the company in a research note on Monday, April 21st. Finally, Raymond James Financial reissued an “outperform” rating and issued a $65.00 target price (down previously from $77.00) on shares of Banner in a research note on Monday, April 21st.
View Our Latest Report on BANR
Banner Price Performance
Banner (NASDAQ:BANR – Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.23 by $0.06. The firm had revenue of $159.88 million for the quarter, compared to the consensus estimate of $159.72 million. Banner had a net margin of 20.77% and a return on equity of 9.95%. During the same period in the previous year, the firm posted $1.22 EPS. Sell-side analysts forecast that Banner will post 5.23 EPS for the current fiscal year.
Banner Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 9th. Investors of record on Tuesday, April 29th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Tuesday, April 29th. Banner’s payout ratio is currently 37.72%.
Institutional Trading of Banner
A number of hedge funds and other institutional investors have recently bought and sold shares of BANR. Victory Capital Management Inc. boosted its holdings in shares of Banner by 20.3% in the first quarter. Victory Capital Management Inc. now owns 2,047,260 shares of the financial services provider’s stock valued at $130,554,000 after purchasing an additional 345,607 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Banner by 4.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,439,174 shares of the financial services provider’s stock worth $91,776,000 after buying an additional 59,653 shares during the period. Westwood Holdings Group Inc. grew its position in shares of Banner by 122.8% during the 1st quarter. Westwood Holdings Group Inc. now owns 1,142,987 shares of the financial services provider’s stock worth $72,888,000 after buying an additional 630,004 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Banner by 11.6% during the 1st quarter. The Manufacturers Life Insurance Company now owns 845,790 shares of the financial services provider’s stock worth $53,936,000 after buying an additional 88,056 shares in the last quarter. Finally, American Century Companies Inc. increased its stake in shares of Banner by 5.5% during the fourth quarter. American Century Companies Inc. now owns 738,356 shares of the financial services provider’s stock valued at $49,300,000 after buying an additional 38,454 shares during the period. Hedge funds and other institutional investors own 87.33% of the company’s stock.
About Banner
Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans.
Featured Stories
- Five stocks we like better than Banner
- How Can Investors Benefit From After-Hours Trading
- Analyst Downgrades Joby, But Overlooks Major Regulatory Wins
- High Flyers: 3 Natural Gas Stocks for March 2022
- U.S. Steel Stock Burns the Bears With Surprise Upside Move
- How to trade penny stocks: A step-by-step guide
- Lululemon, UNH, Enphase: Bad News, Good Opportunity?
Receive News & Ratings for Banner Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banner and related companies with MarketBeat.com's FREE daily email newsletter.