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. “
A number of other research firms also recently issued reports on BANR. Keefe, Bruyette & Woods lowered their target price on shares of Banner Corp. from $49.00 to $48.00 and set a market perform rating for the company in a report on Thursday, July 28th. DA Davidson restated a buy rating and issued a $52.00 target price on shares of Banner Corp. in a report on Tuesday, August 23rd. Finally, FBR & Co lowered their target price on shares of Banner Corp. from $50.00 to $48.00 and set a market perform rating for the company in a report on Friday, July 29th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of Buy and a consensus price target of $50.40.
Banner Corp. (NASDAQ:BANR) traded down 0.31% during mid-day trading on Wednesday, hitting $44.45. 12,401 shares of the stock were exchanged. The company has a 50-day moving average price of $43.61 and a 200-day moving average price of $42.78. The company has a market cap of $1.53 billion, a P/E ratio of 23.33 and a beta of 1.63. Banner Corp. has a one year low of $35.39 and a one year high of $53.55.
Banner Corp. (NASDAQ:BANR) last issued its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by $0.05. Banner Corp. had a return on equity of 6.70% and a net margin of 13.96%. Analysts forecast that Banner Corp. will post $2.81 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Shareholders of record on Monday, October 10th will be paid 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 annualized dividend and a yield of 2.06%. The ex-dividend date is Wednesday, October 5th. Banner Corp.’s payout ratio is currently 43.08%.
A number of large investors have recently added to or reduced their stakes in the company. Nuveen Asset Management LLC increased its stake in 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 valued at $5,348,000 after buying an additional 13,386 shares in the last quarter. William Blair Investment Management LLC purchased a new position in Banner Corp. during the second quarter worth approximately $7,809,000. Kennedy Capital Management Inc. boosted its position in 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 last quarter. Menta Capital LLC boosted its position in Banner Corp. by 65.3% in the first quarter. Menta Capital LLC now owns 8,100 shares of the financial services provider’s stock worth $341,000 after buying an additional 3,200 shares during the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in Banner Corp. by 2.7% in the second quarter. Mutual of America Capital Management LLC now owns 121,697 shares of the financial services provider’s stock worth $5,177,000 after buying an additional 3,209 shares during the last quarter. Institutional investors own 77.17% of the company’s stock.
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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