Banner Corporation (BANR) Given Neutral Rating at Piper Jaffray Companies

Banner Corporation (NASDAQ:BANR)‘s stock had its “neutral” rating reaffirmed by Piper Jaffray Companies in a report issued on Friday, October 27th.

A number of other brokerages also recently commented on BANR. DA Davidson downgraded shares of Banner Corporation from a “buy” rating to a “neutral” rating in a research note on Thursday, October 26th. ValuEngine downgraded shares of Banner Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 10th. Zacks Investment Research raised shares of Banner Corporation from a “sell” rating to a “buy” rating and set a $63.00 target price on the stock in a research note on Monday, July 3rd. BidaskClub raised shares of Banner Corporation from a “sell” rating to a “hold” rating in a report on Saturday, August 5th. Finally, Stephens assumed coverage on shares of Banner Corporation in a report on Wednesday, September 13th. They set an “equal weight” rating and a $60.00 price target for the company. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $60.67.

Shares of Banner Corporation (BANR) opened at $54.62 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 0.93 and a current ratio of 0.94. The stock has a market cap of $1,791.89, a P/E ratio of 18.33, a P/E/G ratio of 1.94 and a beta of 1.07. Banner Corporation has a 1 year low of $46.92 and a 1 year high of $62.75.

Banner Corporation (NASDAQ:BANR) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.76 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.77 by ($0.01). The company had revenue of $120.55 million for the quarter, compared to analysts’ expectations of $123.58 million. Banner Corporation had a return on equity of 7.52% and a net margin of 19.70%. analysts forecast that Banner Corporation will post 3.13 EPS for the current year.

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In other news, Director Gary Sirmon sold 3,333 shares of Banner Corporation stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $55.46, for a total value of $184,848.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Cynthia D. Purcell sold 1,007 shares of Banner Corporation stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $55.61, for a total transaction of $55,999.27. The disclosure for this sale can be found here. Over the last three months, insiders have sold 7,925 shares of company stock valued at $446,739. 1.71% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of BANR. Creative Planning lifted its position in Banner Corporation by 4.6% in the 2nd quarter. Creative Planning now owns 1,913 shares of the financial services provider’s stock valued at $108,000 after purchasing an additional 85 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Banner Corporation by 236.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,135 shares of the financial services provider’s stock valued at $121,000 after purchasing an additional 1,500 shares during the last quarter. Riverhead Capital Management LLC lifted its position in Banner Corporation by 182.8% in the 2nd quarter. Riverhead Capital Management LLC now owns 2,262 shares of the financial services provider’s stock valued at $128,000 after purchasing an additional 1,462 shares during the last quarter. Ameritas Investment Partners Inc. lifted its position in Banner Corporation by 11.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,893 shares of the financial services provider’s stock valued at $163,000 after purchasing an additional 300 shares during the last quarter. Finally, Flinton Capital Management LLC lifted its position in Banner Corporation by 200.0% in the 2nd quarter. Flinton Capital Management LLC now owns 3,528 shares of the financial services provider’s stock valued at $199,000 after purchasing an additional 2,352 shares during the last quarter. Hedge funds and other institutional investors own 89.69% of the company’s stock.

About Banner Corporation

Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.

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