Today: The Banner Corp. (BANR) Upgraded to Buy by Zacks Investment Research

The Banner Corp. (BANR) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Banner Corp. (NASDAQ:BANR) from a hold rating to a buy rating in a report issued on Friday morning. The firm currently has $49.00 target price on the financial services provider’s stock.

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 also recently commented on BANR. DA Davidson reiterated a buy rating and set a $52.00 target price on shares of Banner Corp. in a research note on Tuesday, August 23rd. Keefe, Bruyette & Woods reduced their target price on Banner Corp. from $49.00 to $48.00 and set a market perform rating for the company in a research note on Thursday, July 28th. Finally, FBR & Co lifted their target price on Banner Corp. from $45.00 to $46.00 and gave the stock a mkt perform rating in a research note on Tuesday, October 11th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of Buy and an average target price of $49.83.

Shares of Banner Corp. (NASDAQ:BANR) traded up 0.07% during mid-day trading on Friday, reaching $43.95. The company’s stock had a trading volume of 29,938 shares. The firm has a 50 day moving average price of $43.90 and a 200 day moving average price of $42.89. The firm has a market cap of $1.51 billion, a price-to-earnings ratio of 23.07 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 posted its quarterly earnings results on Tuesday, July 26th. The financial services provider reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.05. Banner Corp. had a net margin of 13.96% and a return on equity of 6.70%. On average, equities analysts predict that Banner Corp. will post $2.81 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 19th. Investors of record on Monday, October 10th will be issued a dividend of $0.23 per share. This is a boost from Banner Corp.’s previous quarterly dividend of $0.21. This represents a $0.92 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, October 5th. Banner Corp.’s dividend payout ratio (DPR) is presently 47.18%.

A number of hedge funds have recently added to or reduced their stakes in BANR. PineBridge Investments L.P. boosted its stake in Banner Corp. by 4.8% in the second quarter. PineBridge Investments L.P. now owns 2,606 shares of the financial services provider’s stock valued at $111,000 after buying an additional 120 shares during the last quarter. Mason Street Advisors LLC purchased a new stake in Banner Corp. during the second quarter valued at $171,000. Baker Boyer National Bank purchased a new stake in Banner Corp. during the third quarter valued at $225,000. MUFG Americas Holdings Corp boosted its stake in Banner Corp. by 2.0% in the second quarter. MUFG Americas Holdings Corp now owns 6,108 shares of the financial services provider’s stock valued at $260,000 after buying an additional 118 shares during the last quarter. Finally, BNP Paribas Arbitrage SA boosted its stake in 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 last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.

Banner Corp. 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 regional bank that offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its market areas.

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