Banner (NASDAQ:BANR) Upgraded to “Hold” by Zacks Investment Research

Zacks Investment Research upgraded shares of Banner (NASDAQ:BANR) from a sell rating to a hold rating in a report issued on Monday morning, reports.

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 analysts have also recently issued reports about the company. ValuEngine cut Zumiez from a hold rating to a sell rating in a research report on Tuesday, July 2nd. Raymond James set a $60.00 target price on Banner and gave the stock a buy rating in a research note on Friday, May 3rd. DA Davidson raised their price objective on Slack to $31.00 and gave the stock an average rating in a research note on Tuesday, June 11th. Finally, BidaskClub downgraded Xilinx from a buy rating to a hold rating in a report on Saturday, June 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $61.50.

NASDAQ BANR traded up $0.48 during trading hours on Monday, hitting $53.88. 6,289 shares of the company traded hands, compared to its average volume of 184,742. The stock has a 50-day simple moving average of $52.88. Banner has a twelve month low of $48.50 and a twelve month high of $67.11. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.43. The stock has a market cap of $1.94 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 1.92 and a beta of 0.77.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.99 EPS for the quarter, missing the consensus estimate of $1.06 by ($0.07). Banner had a net margin of 24.74% and a return on equity of 10.39%. The company had revenue of $134.23 million for the quarter, compared to analyst estimates of $139.04 million. As a group, research analysts forecast that Banner will post 4.12 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 18th. Stockholders of record on Tuesday, July 9th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, July 8th. This represents a $1.64 annualized dividend and a dividend yield of 3.04%. Banner’s payout ratio is currently 40.10%.

In other Banner news, VP Steven W. Rust sold 491 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $53.39, for a total transaction of $26,214.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.51% of the stock is owned by corporate insiders.

Institutional investors have recently bought and sold shares of the company. Public Employees Retirement System of Ohio boosted its holdings in shares of 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 worth $30,000 after purchasing an additional 182 shares during the period. Huntington National Bank lifted its holdings in Banner by 1,669.4% in the first quarter. Huntington National Bank now owns 637 shares of the financial services provider’s stock worth $35,000 after buying an additional 601 shares during the period. Pearl River Capital LLC lifted its holdings in Banner by 716.7% in the first quarter. Pearl River Capital LLC now owns 2,246 shares of the financial services provider’s stock worth $122,000 after buying an additional 1,971 shares during the period. SG Americas Securities LLC purchased a new stake in Banner in the first quarter worth about $186,000. Finally, Everence Capital Management Inc. purchased a new stake in Banner in the first quarter worth about $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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