Trading Report: The Banner Corp. (BANR) Price Target Raised to $46.00 at FBR & Co

The Banner Corp. (BANR) Price Target Raised to $46.00 at FBR & Co

Banner Corp. (NASDAQ:BANR) had its price target upped by FBR & Co from $45.00 to $46.00 in a research report report published on Tuesday morning. They currently have a mkt perform rating on the financial services provider’s stock.

Several other brokerages have also recently issued reports on BANR. Zacks Investment Research raised Banner Corp. from a sell rating to a hold rating in a research report on Monday, September 12th. Keefe, Bruyette & Woods dropped their target price on Banner Corp. from $49.00 to $48.00 and set a market perform rating on the stock in a research report on Thursday, July 28th. Finally, DA Davidson reissued a buy rating and issued a $52.00 target price on shares of Banner Corp. in a research report on Tuesday, August 23rd. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of Buy and a consensus target price of $50.00.

Banner Corp. (NASDAQ:BANR) traded up 0.43% during midday trading on Tuesday, hitting $44.52. The stock had a trading volume of 13,955 shares. The firm has a 50 day moving average of $43.82 and a 200 day moving average of $42.86. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 23.37 and a beta of 1.63. Banner Corp. has a 52 week low of $35.39 and a 52 week high of $53.55.

Banner Corp. (NASDAQ:BANR) last announced its earnings results on Tuesday, July 26th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by $0.05. Banner Corp. had a return on equity of 6.70% and a net margin of 13.96%. Equities research analysts predict that Banner Corp. will post $2.81 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 19th. Stockholders of record on Monday, October 10th will be paid a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.92 annualized dividend and a dividend yield of 2.08%. This is an increase from Banner Corp.’s previous quarterly dividend of $0.21. Banner Corp.’s dividend payout ratio (DPR) is 47.18%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Fund Management S.A. acquired a new stake in shares of Banner Corp. during the second quarter valued at about $545,000. Boston Advisors LLC acquired a new stake in shares of Banner Corp. during the second quarter valued at about $4,801,000. Louisiana State Employees Retirement System increased its stake in shares of Banner Corp. by 1.1% in the second quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the financial services provider’s stock valued at $387,000 after buying an additional 100 shares during the period. Capstone Asset Management Co. increased its stake in shares of Banner Corp. by 15.3% in the second quarter. Capstone Asset Management Co. now owns 8,306 shares of the financial services provider’s stock valued at $353,000 after buying an additional 1,100 shares during the period. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Banner Corp. by 125.6% in the second quarter. BNP Paribas Arbitrage SA now owns 6,889 shares of the financial services provider’s stock valued at $293,000 after buying an additional 3,836 shares during the period. 77.17% of the stock is currently owned by hedge funds and other institutional investors.

About Banner Corp.

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