Banner (BANR) Cut to “Sell” at BidaskClub

BidaskClub downgraded shares of Banner (NASDAQ:BANR) from a hold rating to a sell rating in a report released on Saturday morning.

A number of other equities research analysts also recently weighed in on BANR. Stephens restated a hold rating and issued a $68.00 target price on shares of Banner in a research report on Thursday, September 6th. Piper Jaffray Companies set a $62.00 target price on Banner and gave the stock a hold rating in a research report on Wednesday, October 31st. FIG Partners upgraded Banner from a market perform rating to an outperform rating in a research report on Friday, October 26th. Finally, ValuEngine downgraded Banner from a hold rating to a sell rating in a research report on Wednesday, October 24th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of $66.00.

Shares of NASDAQ BANR opened at $59.89 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 0.93 and a quick ratio of 0.92. The company has a market cap of $1.94 billion, a PE ratio of 20.07, a price-to-earnings-growth ratio of 2.14 and a beta of 0.89. Banner has a 12-month low of $52.10 and a 12-month high of $67.11.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, October 24th. The financial services provider reported $1.20 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.95 by $0.25. The business had revenue of $129.49 million during the quarter, compared to the consensus estimate of $125.29 million. Banner had a return on equity of 9.74% and a net margin of 16.08%. On average, analysts predict that Banner will post 4 earnings per share for the current year.

In other Banner news, VP Peter Conner sold 580 shares of the company’s stock in a transaction that occurred on Friday, November 16th. The stock was sold at an average price of $60.32, for a total value of $34,985.60. Following the completion of the sale, the vice president now directly owns 24,222 shares in the company, valued at $1,461,071.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.76% of the company’s stock.

Large investors have recently made changes to their positions in the company. Bank of America Corp DE lifted its position in shares of Banner by 13.7% during the 2nd quarter. Bank of America Corp DE now owns 264,940 shares of the financial services provider’s stock valued at $15,931,000 after acquiring an additional 31,829 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Banner by 27.8% during the 2nd quarter. Wells Fargo & Company MN now owns 171,179 shares of the financial services provider’s stock valued at $10,292,000 after acquiring an additional 37,262 shares during the last quarter. Swiss National Bank lifted its position in shares of Banner by 4.0% during the 2nd quarter. Swiss National Bank now owns 56,800 shares of the financial services provider’s stock valued at $3,415,000 after acquiring an additional 2,200 shares during the last quarter. Sei Investments Co. lifted its position in shares of Banner by 8.5% during the 2nd quarter. Sei Investments Co. now owns 55,482 shares of the financial services provider’s stock valued at $3,336,000 after acquiring an additional 4,327 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in shares of Banner during the 3rd quarter valued at $577,000. Institutional investors own 90.93% of the company’s stock.

Banner Company Profile

Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank, which provides commercial banking and financial products and services to individuals, businesses, and public sector entities primarily in the United States. It offers deposit products, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans.

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