Zacks Investment Research Upgrades Banner (BANR) to Hold

Banner (NASDAQ:BANR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

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 brokerages have also recently commented on BANR. DA Davidson cut Banner from a “buy” rating to a “neutral” rating in a report on Thursday, October 26th. ValuEngine cut Banner from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Piper Jaffray Companies reiterated a “neutral” rating on shares of Banner in a report on Friday, October 27th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $60.00 target price on shares of Banner in a report on Friday, December 22nd. Finally, BidaskClub cut Banner from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Seven research analysts have rated the stock with a hold rating, Banner currently has an average rating of “Hold” and a consensus price target of $60.50.

Shares of Banner (NASDAQ:BANR) opened at $55.72 on Tuesday. The firm has a market capitalization of $1,852.25, a PE ratio of 18.95, a PEG ratio of 2.02 and a beta of 1.06. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 0.94. Banner has a twelve month low of $51.61 and a twelve month high of $62.75.

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

Several institutional investors have recently bought and sold shares of BANR. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Banner by 236.2% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,135 shares of the financial services provider’s stock worth $121,000 after buying an additional 1,500 shares in the last quarter. Zions Bancorporation acquired a new position in shares of Banner during the third quarter worth approximately $122,000. Riverhead Capital Management LLC raised its position in shares of Banner by 182.8% during the second quarter. Riverhead Capital Management LLC now owns 2,262 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 1,462 shares during the period. Ameritas Investment Partners Inc. raised its position in shares of Banner by 11.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,893 shares of the financial services provider’s stock worth $163,000 after purchasing an additional 300 shares during the period. Finally, Flinton Capital Management LLC raised its position in shares of Banner by 200.0% during the second quarter. Flinton Capital Management LLC now owns 3,528 shares of the financial services provider’s stock worth $199,000 after purchasing an additional 2,352 shares during the period. Hedge funds and other institutional investors own 91.58% of the company’s stock.

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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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