Banner (NASDAQ:BANR) Upgraded at Raymond James


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Raymond James upgraded shares of Banner (NASDAQ:BANR) from an outperform rating to a strong-buy rating in a report issued on Wednesday morning, Analyst Ratings Network reports. They currently have $63.00 target price on the financial services provider’s stock, up from their prior target price of $57.00.

Other equities analysts have also issued reports about the company. Zacks Investment Research raised Banner from a hold rating to a buy rating and set a $60.00 target price on the stock in a research report on Thursday, April 1st. Janney Montgomery Scott lowered Banner from a buy rating to a neutral rating and set a $55.00 target price on the stock. in a research report on Monday, January 25th. Finally, Stephens initiated coverage on Banner in a research report on Tuesday, January 5th. They issued an equal weight rating for the company. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of Buy and an average price target of $57.00.

Shares of BANR opened at $54.05 on Wednesday. Banner has a 52-week low of $27.76 and a 52-week high of $60.42. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.87 and a current ratio of 0.88. The business’s 50 day moving average price is $54.65 and its two-hundred day moving average price is $45.92. The firm has a market cap of $1.88 billion, a PE ratio of 17.32 and a beta of 1.14.

Banner (NASDAQ:BANR) last issued its earnings results on Wednesday, January 20th. The financial services provider reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.92 by $0.18. Banner had a return on equity of 7.38% and a net margin of 17.88%. The company had revenue of $144.95 million for the quarter, compared to analyst estimates of $145.41 million. Research analysts predict that Banner will post 3.25 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, February 16th. Investors of record on Thursday, February 4th were given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 3.03%. The ex-dividend date was Wednesday, February 3rd. Banner’s payout ratio is currently 37.44%.

In related news, VP Steven W. Rust sold 1,169 shares of the stock in a transaction on Monday, March 8th. The stock was sold at an average price of $57.59, for a total value of $67,322.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 2.13% of the company’s stock.

A number of large investors have recently made changes to their positions in BANR. Norges Bank bought a new position in Banner in the 4th quarter valued at $21,032,000. FJ Capital Management LLC grew its stake in Banner by 165.1% in the 4th quarter. FJ Capital Management LLC now owns 289,000 shares of the financial services provider’s stock valued at $13,457,000 after purchasing an additional 180,000 shares during the period. Victory Capital Management Inc. grew its stake in Banner by 20.2% in the 4th quarter. Victory Capital Management Inc. now owns 676,121 shares of the financial services provider’s stock valued at $31,501,000 after purchasing an additional 113,546 shares during the period. Ziegler Capital Management LLC grew its stake in Banner by 56.9% in the 4th quarter. Ziegler Capital Management LLC now owns 259,809 shares of the financial services provider’s stock valued at $12,105,000 after purchasing an additional 94,258 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Banner by 35.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 274,895 shares of the financial services provider’s stock valued at $12,807,000 after purchasing an additional 71,411 shares during the period. Hedge funds and other institutional investors own 82.52% of the company’s stock.

Banner Company Profile

Banner Corporation operates as the bank holding company for Banner Bank that provide commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, 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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