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 equities research analysts have also issued reports about the stock. DA Davidson restated a buy rating and set a $52.00 target price on shares of Banner Corp. in a research report on Tuesday, August 23rd. FBR & Co decreased their price objective on shares of Banner Corp. from $50.00 to $48.00 and set a market perform rating on the stock in a research report on Friday, July 29th. Finally, Keefe, Bruyette & Woods decreased their price objective on shares of 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. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $50.40.
Shares of Banner Corp. (NASDAQ:BANR) opened at 44.27 on Monday. Banner Corp. has a 52-week low of $35.39 and a 52-week high of $53.55. The company’s 50-day moving average is $43.33 and its 200 day moving average is $42.65. The firm has a market capitalization of $1.52 billion, a PE ratio of 23.24 and a beta of 1.70.
Banner Corp. (NASDAQ:BANR) last issued its earnings results on Tuesday, July 26th. The financial services provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.72 by $0.05. Banner Corp. had a return on equity of 6.70% and a net margin of 13.96%. Equities analysts expect that Banner Corp. will post $2.80 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. General Motors Investment Management Corp bought a new position in Banner Corp. during the second quarter worth approximately $27,349,000. Basswood Capital Management L.L.C. increased its position in Banner Corp. by 136.8% in the second quarter. Basswood Capital Management L.L.C. now owns 561,501 shares of the financial services provider’s stock worth $23,886,000 after buying an additional 324,426 shares in the last quarter. BlackRock Fund Advisors increased its position in Banner Corp. by 16.3% in the second quarter. BlackRock Fund Advisors now owns 1,517,825 shares of the financial services provider’s stock worth $64,568,000 after buying an additional 212,618 shares in the last quarter. Monarch Partners Asset Management LLC increased its position in Banner Corp. by 126.5% in the second quarter. Monarch Partners Asset Management LLC now owns 359,050 shares of the financial services provider’s stock worth $15,274,000 after buying an additional 200,530 shares in the last quarter. Finally, State of Wisconsin Investment Board bought a new position in Banner Corp. during the second quarter worth approximately $8,508,000. 77.17% of the stock is owned by hedge funds and other institutional investors.
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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