Zacks Investment Research upgraded shares of Banner Corp. (NASDAQ:BANR) from a hold rating to a buy rating in a research report released on Friday morning. Zacks Investment Research currently has $49.00 target price on the financial services provider’s stock.
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. “
Several other research analysts also recently commented on BANR. FBR & Co decreased their target price on shares of Banner Corp. from $50.00 to $48.00 and set a market perform rating on the stock in a research note on Friday, July 29th. Keefe, Bruyette & Woods decreased their target price on shares of 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. Finally, DA Davidson reaffirmed a buy rating and issued a $52.00 target price on shares of Banner Corp. in a research note on Tuesday, August 23rd. One research analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Banner Corp. currently has a consensus rating of Buy and an average price target of $49.83.
Banner Corp. (NASDAQ:BANR) opened at 44.62 on Friday. The firm has a 50 day moving average of $43.94 and a 200-day moving average of $42.94. Banner Corp. has a 1-year low of $35.39 and a 1-year high of $53.55. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 23.42 and a beta of 1.63.
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%. On average, equities research analysts anticipate that Banner Corp. will post $2.81 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Monday, October 10th will be given a dividend of $0.23 per share. This is an increase from Banner Corp.’s previous quarterly dividend of $0.21. This represents a $0.92 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Wednesday, October 5th. Banner Corp.’s payout ratio is presently 47.18%.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen Asset Management LLC increased its position in shares of Banner Corp. by 11.8% in the first quarter. Nuveen Asset Management LLC now owns 127,211 shares of the financial services provider’s stock worth $5,348,000 after buying an additional 13,386 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Banner Corp. during the second quarter worth approximately $7,809,000. Prudential Financial Inc. boosted its stake in shares of Banner Corp. by 9.7% in the second quarter. Prudential Financial Inc. now owns 118,427 shares of the financial services provider’s stock worth $5,038,000 after buying an additional 10,500 shares during the period. Boston Advisors LLC acquired a new stake in shares of Banner Corp. during the second quarter worth approximately $4,801,000. Finally, Kennedy Capital Management Inc. boosted its stake in shares of 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 period. 77.11% of the stock is currently owned by institutional investors and hedge funds.
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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