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. “
Other equities research analysts have also issued reports about the company. BidaskClub lowered Xilinx from a buy rating to a hold rating in a report on Saturday, June 15th. DA Davidson lifted their price target on Slack to $31.00 and gave the company an average rating in a report on Tuesday, June 11th. ValuEngine lowered Zumiez from a hold rating to a sell rating in a report on Tuesday, July 2nd. Finally, Raymond James set a $60.00 price target on Banner and gave the company a buy rating in a report on Friday, May 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and a consensus price target of $61.50.
Shares of Banner stock traded up $0.48 during trading on Monday, hitting $53.88. 6,289 shares of the stock traded hands, compared to its average volume of 184,742. The company has a market capitalization of $1.94 billion, a PE ratio of 13.19, a P/E/G ratio of 1.92 and a beta of 0.77. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.43. Banner has a twelve month low of $48.50 and a twelve month high of $67.11. The business’s fifty day moving average is $52.88.
Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.99 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.07). The firm had revenue of $134.23 million for the quarter, compared to analyst estimates of $139.04 million. Banner had a net margin of 24.74% and a return on equity of 10.39%. As a group, analysts forecast that Banner will post 4.12 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 3.04%. The ex-dividend date is Monday, July 8th. Banner’s dividend payout ratio is presently 40.10%.
In other news, VP Steven W. Rust sold 491 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The stock was sold at an average price of $53.39, for a total transaction of $26,214.49. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.51% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in shares of Banner by 6.7% during the first quarter. BlackRock Inc. now owns 5,064,064 shares of the financial services provider’s stock valued at $274,320,000 after purchasing an additional 317,182 shares during the period. FMR LLC boosted its stake in Banner by 15.8% in the 4th quarter. FMR LLC now owns 855,555 shares of the financial services provider’s stock valued at $45,755,000 after buying an additional 116,455 shares in the last quarter. Norges Bank acquired a new stake in Banner in the 4th quarter valued at $24,271,000. Geode Capital Management LLC boosted its stake in Banner by 4.6% in the 4th quarter. Geode Capital Management LLC now owns 366,324 shares of the financial services provider’s stock valued at $19,591,000 after buying an additional 16,062 shares in the last quarter. Finally, Stifel Financial Corp boosted its stake in Banner by 129.5% in the 4th quarter. Stifel Financial Corp now owns 239,419 shares of the financial services provider’s stock valued at $12,776,000 after buying an additional 135,089 shares in the last quarter. Institutional investors and hedge funds 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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