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. “
Other analysts have also recently issued research reports about the stock. DA Davidson upped their price target on shares of Slack to $31.00 and gave the company an average rating in a research report on Tuesday, June 11th. Raymond James set a $60.00 price target on shares of Banner and gave the company a buy rating in a research report on Friday, May 3rd. ValuEngine cut shares of Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Finally, BidaskClub cut shares of Xilinx from a buy rating to a hold rating in a research report on Saturday, June 15th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus price target of $61.50.
Shares of BANR opened at $54.23 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $1.88 billion, a PE ratio of 12.51, a P/E/G ratio of 1.86 and a beta of 0.77. The firm’s fifty day moving average price is $52.89. Banner has a 12 month low of $48.50 and a 12 month high of $67.11.
Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.99 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by ($0.07). The firm had revenue of $134.23 million for the quarter, compared to the consensus estimate of $139.04 million. Banner had a net margin of 24.74% and a return on equity of 10.39%. As a group, research analysts forecast that Banner will post 4.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Shareholders of record on Tuesday, July 9th will be given a dividend of $0.41 per share. The ex-dividend date is Monday, July 8th. This represents a $1.64 dividend on an annualized basis and a yield of 3.02%. Banner’s dividend payout ratio (DPR) is currently 40.10%.
In other news, VP Steven W. Rust sold 491 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $53.39, for a total transaction of $26,214.49. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.51% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in BANR. Public Employees Retirement System of Ohio boosted its position in shares of Banner by 47.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 563 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 182 shares in the last quarter. Huntington National Bank boosted its position in shares of Banner by 1,669.4% during the 1st quarter. Huntington National Bank now owns 637 shares of the financial services provider’s stock worth $35,000 after purchasing an additional 601 shares in the last quarter. Pearl River Capital LLC boosted its position in shares of Banner by 716.7% during the 1st quarter. Pearl River Capital LLC now owns 2,246 shares of the financial services provider’s stock worth $122,000 after purchasing an additional 1,971 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of Banner during the 1st quarter worth about $186,000. Finally, Everence Capital Management Inc. bought a new position in shares of Banner during the 1st quarter worth about $225,000. 83.95% of the stock is currently owned by institutional investors.
Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank that 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.
Further Reading: Sell-Side Analysts
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