Banner Co. (NASDAQ:BANR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $61.00 price objective on the financial services provider’s stock. Zacks Investment Research’s price target indicates a potential upside of 10.81% from the company’s current price.
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. “
Shares of Banner (NASDAQ:BANR) opened at 55.05 on Wednesday. The stock’s 50 day moving average is $55.84 and its 200 day moving average is $53.15. Banner has a 1-year low of $38.77 and a 1-year high of $60.97. The company has a market capitalization of $1.83 billion, a PE ratio of 21.85 and a beta of 1.21.
Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, January 25th. The financial services provider reported $0.71 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.73 by $0.02. Banner had a return on equity of 7.05% and a net margin of 17.98%. The business had revenue of $116.63 million for the quarter, compared to the consensus estimate of $116.59 million. On average, equities research analysts anticipate that Banner will post $3.00 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 19th. Stockholders of record on Monday, April 10th were paid a $0.25 dividend. This is a positive change from Banner’s previous quarterly dividend of $0.23. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.82%. The ex-dividend date of this dividend was Thursday, April 6th. Banner’s dividend payout ratio is currently 36.51%.
In other news, Director Jesse G. Foster sold 3,000 shares of the company’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $59.08, for a total value of $177,240.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director D Michael Jones sold 10,000 shares of the company’s stock in a transaction on Monday, January 30th. The shares were sold at an average price of $55.92, for a total transaction of $559,200.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,411 shares of company stock worth $1,495,053. Insiders own 1.98% of the company’s stock.
Several large investors have recently bought and sold shares of BANR. Rice Hall James & Associates LLC raised its stake in Banner by 30.2% in the first quarter. Rice Hall James & Associates LLC now owns 298,973 shares of the financial services provider’s stock worth $16,635,000 after buying an additional 69,264 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Banner by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 10,700 shares of the financial services provider’s stock worth $595,000 after buying an additional 100 shares in the last quarter. Creative Planning raised its stake in Banner by 0.3% in the first quarter. Creative Planning now owns 1,828 shares of the financial services provider’s stock worth $102,000 after buying an additional 6 shares in the last quarter. Teachers Advisors LLC raised its stake in Banner by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 276,302 shares of the financial services provider’s stock worth $15,420,000 after buying an additional 14,975 shares in the last quarter. Finally, FFL Partners LLC purchased a new stake in Banner during the fourth quarter worth approximately $5,448,000. 82.51% of the stock is currently owned by institutional investors.
Banner 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 Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Banner Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banner Co. and related companies with MarketBeat.com's FREE daily email newsletter.