Banner Corporation (NASDAQ:BANR) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
Other equities research analysts have also recently issued reports about the company. BidaskClub raised Banner Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research raised Banner Corporation from a “sell” rating to a “buy” rating and set a $63.00 target price for the company in a research note on Monday, July 3rd. Finally, Stephens started coverage on Banner Corporation in a research note on Wednesday, September 13th. They issued an “equal weight” rating and a $60.00 target price for the company. Six research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $57.75.
Shares of Banner Corporation (NASDAQ:BANR) opened at 61.64 on Tuesday. The stock has a market capitalization of $2.05 billion, a P/E ratio of 21.47 and a beta of 1.04. Banner Corporation has a one year low of $43.22 and a one year high of $62.24. The stock’s 50 day moving average price is $57.88 and its 200 day moving average price is $56.11.
Banner Corporation (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.72 by $0.06. Banner Corporation had a return on equity of 7.50% and a net margin of 19.63%. The business had revenue of $122.18 million during the quarter, compared to analysts’ expectations of $119.46 million. On average, analysts forecast that Banner Corporation will post $3.13 EPS for the current year.
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In other news, VP Cynthia D. Purcell sold 1,007 shares of the business’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 document filed with the SEC, which is available through the SEC website. Also, Director Gary Sirmon sold 3,335 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $57.49, for a total value of $191,729.15. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,258 shares of company stock valued at $631,587. Insiders own 1.71% of the company’s stock.
Several institutional investors have recently modified their holdings of BANR. State Board of Administration of Florida Retirement System lifted its holdings in shares of Banner Corporation by 0.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 15,632 shares of the financial services provider’s stock valued at $870,000 after purchasing an additional 140 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Banner Corporation by 28.5% in the first quarter. US Bancorp DE now owns 3,886 shares of the financial services provider’s stock valued at $216,000 after purchasing an additional 863 shares in the last quarter. Comerica Bank lifted its holdings in shares of Banner Corporation by 2.9% in the first quarter. Comerica Bank now owns 29,555 shares of the financial services provider’s stock valued at $1,674,000 after purchasing an additional 836 shares in the last quarter. Karp Capital Management Corp bought a new stake in shares of Banner Corporation in the first quarter valued at about $382,000. Finally, Parametric Portfolio Associates LLC lifted its holdings in shares of Banner Corporation by 29.8% in the first quarter. Parametric Portfolio Associates LLC now owns 15,511 shares of the financial services provider’s stock valued at $863,000 after purchasing an additional 3,562 shares in the last quarter. Institutional investors own 88.45% 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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