BidaskClub upgraded shares of Banner (NASDAQ:BANR) from a strong sell rating to a sell rating in a research note released on Tuesday.
BANR has been the topic of several other research reports. ValuEngine cut Banner from a hold rating to a sell rating in a research report on Wednesday, October 24th. Stephens reiterated a hold rating and set a $68.00 price objective on shares of Banner in a research report on Thursday, September 6th. Keefe, Bruyette & Woods reiterated a hold rating and set a $61.00 price objective on shares of Banner in a research report on Friday, July 13th. Sandler O’Neill reiterated a buy rating and set a $70.00 price objective on shares of Banner in a research report on Monday, July 30th. Finally, FIG Partners upgraded Banner from a market perform rating to an outperform rating in a research report on Friday, October 26th. Two equities research 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 company has an average rating of Hold and an average price target of $66.00.
BANR traded down $0.25 during trading hours on Tuesday, reaching $61.43. The company’s stock had a trading volume of 946 shares, compared to its average volume of 169,879. Banner has a 52 week low of $52.10 and a 52 week high of $67.11. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.34. The stock has a market cap of $1.95 billion, a PE ratio of 20.51, a price-to-earnings-growth ratio of 2.23 and a beta of 0.93.
Banner (NASDAQ:BANR) last posted its quarterly earnings results on Wednesday, October 24th. The financial services provider reported $1.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.25. The business had revenue of $129.49 million for the quarter, compared to analysts’ expectations of $125.29 million. Banner had a return on equity of 9.74% and a net margin of 16.08%. Equities analysts forecast that Banner will post 3.88 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 19th. Shareholders of record on Wednesday, October 10th were given a dividend of $0.38 per share. This is a boost from Banner’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend was Tuesday, October 9th. This represents a $1.52 annualized dividend and a yield of 2.47%. Banner’s dividend payout ratio (DPR) is presently 50.84%.
Hedge funds have recently bought and sold shares of the business. Itau Unibanco Holding S.A. bought a new position in Banner during the 2nd quarter worth $103,000. Ramsey Quantitative Systems acquired a new stake in shares of Banner during the 2nd quarter worth $325,000. Xact Kapitalforvaltning AB grew its holdings in shares of Banner by 60.9% during the 1st quarter. Xact Kapitalforvaltning AB now owns 6,344 shares of the financial services provider’s stock worth $352,000 after purchasing an additional 2,400 shares in the last quarter. UBS Group AG grew its holdings in shares of Banner by 93.8% during the 1st quarter. UBS Group AG now owns 6,685 shares of the financial services provider’s stock worth $371,000 after purchasing an additional 3,236 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in shares of Banner during the 2nd quarter worth $411,000. Hedge funds and other institutional investors own 91.69% of the company’s stock.
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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