Banner (BANR) Given Hold Rating at Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reaffirmed their hold rating on shares of Banner (NASDAQ:BANR) in a report issued on Friday. The firm currently has a $60.00 price objective on the financial services provider’s stock.

A number of other research analysts also recently issued reports on the company. Zacks Investment Research downgraded Banner from a hold rating to a sell rating in a research note on Monday, October 30th. DA Davidson downgraded Banner from a buy rating to a neutral rating in a research note on Thursday, October 26th. Piper Jaffray Companies downgraded Banner from an overweight rating to a neutral rating and set a $59.00 price objective for the company. in a research note on Thursday, October 26th. Stephens started coverage on Banner in a research note on Wednesday, September 13th. They issued an equal weight rating and a $60.00 price objective for the company. Finally, ValuEngine downgraded Banner from a buy rating to a hold rating in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the stock. The stock has an average rating of Hold and an average price target of $60.50.

Shares of Banner (BANR) traded down $0.59 during trading on Friday, reaching $56.46. The company had a trading volume of 62,777 shares, compared to its average volume of 165,655. The company has a market capitalization of $1,871.61, a P/E ratio of 19.20, a P/E/G ratio of 2.04 and a beta of 1.06. The company has a debt-to-equity ratio of 0.35, a current ratio of 0.94 and a quick ratio of 0.93. Banner has a 1-year low of $51.61 and a 1-year high of $62.75.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.01). The business had revenue of $120.55 million during the quarter, compared to the consensus estimate of $123.58 million. Banner had a net margin of 19.70% and a return on equity of 7.52%. sell-side analysts anticipate that Banner will post 3.11 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 18th. Stockholders of record on Tuesday, January 9th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, January 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.77%. Banner’s dividend payout ratio is presently 34.01%.

Several hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its position in shares of Banner by 6.0% during the 2nd quarter. BlackRock Inc. now owns 3,925,169 shares of the financial services provider’s stock valued at $221,812,000 after buying an additional 221,159 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Banner by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,760,603 shares of the financial services provider’s stock worth $156,002,000 after purchasing an additional 27,376 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Banner by 4.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 2,405,805 shares of the financial services provider’s stock worth $147,428,000 after purchasing an additional 110,369 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in Banner by 4.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,008,608 shares of the financial services provider’s stock worth $123,086,000 after purchasing an additional 92,317 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new stake in Banner during the 2nd quarter worth about $77,217,000. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

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Banner 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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