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. “
A number of other equities research analysts have also recently issued reports on BANR. ValuEngine cut Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. BidaskClub cut Xilinx from a buy rating to a hold rating in a report on Saturday, June 15th. Raymond James set a $60.00 price objective on Banner and gave the stock a buy rating in a report on Friday, May 3rd. Finally, DA Davidson boosted their price objective on Slack to $31.00 and gave the stock an average rating in a report on Tuesday, June 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus target price of $61.50.
Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, April 24th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by ($0.07). Banner had a return on equity of 10.39% and a net margin of 24.74%. The firm had revenue of $134.23 million for the quarter, compared to the consensus estimate of $139.04 million. On average, analysts forecast that Banner will post 4.11 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th will be given a $0.41 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.02%. Banner’s payout ratio is 40.10%.
In other news, VP Steven W. Rust sold 491 shares of Banner stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $53.39, for a total value of $26,214.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.51% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio raised its position in Banner by 47.8% during the fourth quarter. Public Employees Retirement System of Ohio now owns 563 shares of the financial services provider’s stock valued at $30,000 after purchasing an additional 182 shares in the last quarter. Huntington National Bank raised its position in Banner by 1,669.4% during the first quarter. Huntington National Bank now owns 637 shares of the financial services provider’s stock valued at $35,000 after purchasing an additional 601 shares in the last quarter. Pearl River Capital LLC raised its position in Banner by 716.7% during the first quarter. Pearl River Capital LLC now owns 2,246 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 1,971 shares in the last quarter. SG Americas Securities LLC acquired a new position in Banner during the first quarter valued at approximately $186,000. Finally, Everence Capital Management Inc. acquired a new position in Banner during the first quarter valued at approximately $225,000. Institutional investors own 83.95% of the company’s stock.
Banner Company Profile
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.
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