BidaskClub upgraded shares of Banner (NASDAQ:BANR) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning.
BANR has been the topic of several other research reports. ValuEngine downgraded Banner from a hold rating to a sell rating in a report on Wednesday, October 24th. Zacks Investment Research downgraded Banner from a strong-buy rating to a hold rating in a report on Tuesday, January 15th. Stephens reissued a hold rating and issued a $56.00 price target on shares of Banner in a report on Wednesday, December 19th. FIG Partners raised Banner from a market perform rating to an outperform rating in a report on Friday, October 26th. Finally, Piper Jaffray Companies set a $62.00 price target on Banner and gave the stock a hold rating in a report on Wednesday, October 31st. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $62.40.
Shares of NASDAQ BANR opened at $63.29 on Wednesday. The company has a market capitalization of $2.01 billion, a P/E ratio of 14.91, a P/E/G ratio of 2.04 and a beta of 0.78. Banner has a 12-month low of $48.50 and a 12-month high of $67.11. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.95.
Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, January 23rd. The financial services provider reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.04 by $0.05. The business had revenue of $139.16 million for the quarter, compared to the consensus estimate of $134.25 million. Banner had a return on equity of 10.44% and a net margin of 24.90%. On average, research analysts forecast that Banner will post 4.35 earnings per share for the current year.
In related news, Director John R. Layman sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, December 7th. The stock was sold at an average price of $57.65, for a total value of $57,650.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In the last three months, insiders sold 2,580 shares of company stock worth $149,091. Company insiders own 1.76% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Eagle Boston Investment Management Inc. raised its stake in Banner by 1.0% during the 3rd quarter. Eagle Boston Investment Management Inc. now owns 145,710 shares of the financial services provider’s stock valued at $9,058,000 after acquiring an additional 1,377 shares in the last quarter. Man Group plc raised its stake in Banner by 161.3% during the 3rd quarter. Man Group plc now owns 124,421 shares of the financial services provider’s stock valued at $7,736,000 after acquiring an additional 76,796 shares in the last quarter. Acadian Asset Management LLC bought a new stake in Banner during the 3rd quarter valued at $577,000. Chicago Equity Partners LLC raised its stake in Banner by 28.5% during the 4th quarter. Chicago Equity Partners LLC now owns 55,245 shares of the financial services provider’s stock valued at $2,955,000 after acquiring an additional 12,260 shares in the last quarter. Finally, Adams Diversified Equity Fund Inc. bought a new stake in Banner during the 3rd quarter valued at $727,000. 89.78% of the stock is currently owned by hedge funds and other institutional investors.
Banner Company Profile
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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