FIG Partners upgraded shares of Banner (NASDAQ:BANR) from a market perform rating to an outperform rating in a research note released on Friday morning, Marketbeat reports. FIG Partners also issued estimates for Banner’s Q4 2018 earnings at $0.99 EPS, FY2018 earnings at $3.95 EPS, Q1 2019 earnings at $1.01 EPS, Q2 2019 earnings at $1.05 EPS, Q3 2019 earnings at $1.06 EPS, Q4 2019 earnings at $1.05 EPS, FY2019 earnings at $4.16 EPS, Q1 2020 earnings at $1.05 EPS, Q2 2020 earnings at $1.11 EPS, Q3 2020 earnings at $1.16 EPS and FY2020 earnings at $4.50 EPS.
Several other brokerages also recently weighed in on BANR. BidaskClub raised shares of Banner from a hold rating to a buy rating in a research report on Saturday, September 8th. Sandler O’Neill restated a buy rating and issued a $70.00 target price on shares of Banner in a report on Monday, July 30th. Keefe, Bruyette & Woods restated a hold rating and issued a $61.00 target price on shares of Banner in a report on Friday, July 13th. Stephens restated a hold rating and issued a $68.00 target price on shares of Banner in a report on Thursday, September 6th. Finally, ValuEngine cut shares of Banner from a hold rating to a sell rating in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. Banner presently has an average rating of Hold and an average price target of $65.20.
Shares of NASDAQ BANR traded down $0.42 on Friday, reaching $57.62. 149,477 shares of the company’s stock traded hands, compared to its average volume of 169,759. Banner has a 12 month low of $52.10 and a 12 month high of $67.11. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 19.27, a P/E/G ratio of 1.57 and a beta of 0.90. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.92 and a current ratio of 0.93.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 19th. Stockholders of record on Wednesday, October 10th were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Tuesday, October 9th. This is a boost from Banner’s previous quarterly dividend of $0.35. Banner’s dividend payout ratio (DPR) is currently 50.84%.
Several institutional investors have recently modified their holdings of BANR. Wells Fargo & Company MN lifted its stake in shares of Banner by 27.8% during the 2nd quarter. Wells Fargo & Company MN now owns 171,179 shares of the financial services provider’s stock valued at $10,292,000 after buying an additional 37,262 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Banner by 13.7% in the 2nd quarter. Bank of America Corp DE now owns 264,940 shares of the financial services provider’s stock worth $15,931,000 after buying an additional 31,829 shares during the last quarter. Swiss National Bank increased its holdings in shares of Banner by 4.0% in the 2nd quarter. Swiss National Bank now owns 56,800 shares of the financial services provider’s stock worth $3,415,000 after buying an additional 2,200 shares during the last quarter. Sei Investments Co. increased its holdings in shares of Banner by 8.5% in the 2nd quarter. Sei Investments Co. now owns 55,482 shares of the financial services provider’s stock worth $3,336,000 after buying an additional 4,327 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in shares of Banner by 4.3% in the 1st quarter. Principal Financial Group Inc. now owns 277,324 shares of the financial services provider’s stock worth $15,388,000 after buying an additional 11,424 shares during the last quarter. Institutional investors and hedge funds own 91.52% 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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