Banner (NASDAQ:BANR) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Monday, May 14th.
A number of other brokerages have also commented on BANR. Keefe, Bruyette & Woods reissued a “hold” rating and set a $58.00 price objective on shares of Banner in a report on Friday, January 26th. Zacks Investment Research downgraded Banner from a “hold” rating to a “sell” rating in a research note on Tuesday, March 27th. Piper Jaffray Companies restated a “hold” rating and issued a $58.00 target price on shares of Banner in a research note on Friday, February 2nd. Sandler O’Neill reiterated a “buy” rating on shares of Banner in a research note on Friday, January 26th. Finally, Stephens reiterated a “hold” rating and issued a $60.00 price objective on shares of Banner in a research note on Tuesday, April 24th. Seven analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $60.25.
Banner traded up $1.00, hitting $59.11, during midday trading on Monday, according to Marketbeat. 208,471 shares of the company were exchanged, compared to its average volume of 202,153. The company has a market capitalization of $1.88 billion, a PE ratio of 19.77, a PEG ratio of 1.66 and a beta of 0.96. The company has a current ratio of 0.92, a quick ratio of 0.90 and a debt-to-equity ratio of 0.32. Banner has a 1-year low of $52.07 and a 1-year high of $62.75.
Banner (NASDAQ:BANR) last issued its earnings results on Monday, April 23rd. The financial services provider reported $0.81 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.08. Banner had a return on equity of 8.00% and a net margin of 12.85%. The business had revenue of $118.74 million during the quarter, compared to analyst estimates of $118.23 million. equities research analysts predict that Banner will post 3.51 EPS for the current fiscal year.
Banner announced that its board has initiated a stock repurchase program on Wednesday, March 28th that authorizes the company to buyback 1,620,000 outstanding shares. This buyback authorization authorizes the financial services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, VP Kenneth A. Larsen sold 884 shares of the company’s stock in a transaction on Thursday, March 8th. The shares were sold at an average price of $57.53, for a total value of $50,856.52. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Steven W. Rust sold 511 shares of the company’s stock in a transaction on Friday, April 27th. The stock was sold at an average price of $57.82, for a total transaction of $29,546.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,807 shares of company stock worth $104,158. Company insiders own 1.76% of the company’s stock.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC increased its stake in Banner by 15.3% in the first quarter. Flinton Capital Management LLC now owns 6,524 shares of the financial services provider’s stock valued at $362,000 after acquiring an additional 868 shares during the last quarter. Citigroup Inc. increased its stake in Banner by 6.3% in the first quarter. Citigroup Inc. now owns 15,822 shares of the financial services provider’s stock valued at $878,000 after acquiring an additional 940 shares during the last quarter. Prudential Financial Inc. increased its stake in Banner by 1.4% in the first quarter. Prudential Financial Inc. now owns 72,413 shares of the financial services provider’s stock valued at $4,018,000 after acquiring an additional 1,000 shares during the last quarter. Neuburgh Advisers LLC increased its stake in Banner by 15.3% in the first quarter. Neuburgh Advisers LLC now owns 7,922 shares of the financial services provider’s stock valued at $440,000 after acquiring an additional 1,054 shares during the last quarter. Finally, AlphaOne Investment Services LLC increased its stake in Banner by 1.4% in the fourth quarter. AlphaOne Investment Services LLC now owns 80,392 shares of the financial services provider’s stock valued at $4,431,000 after acquiring an additional 1,097 shares during the last quarter. 92.37% of the stock is currently owned by institutional investors and hedge funds.
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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