Zacks Investment Research Upgrades Banner (NASDAQ:BANR) to Buy

Banner (NASDAQ:BANRGet Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday, reports. The brokerage currently has a $68.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price points to a potential upside of 12.98% from the stock’s current price.

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. “

Separately, Raymond James boosted their target price on Banner from $68.00 to $72.00 and gave the stock a “strong-buy” rating in a research report on Monday, January 24th.

BANR traded down $0.48 on Monday, hitting $60.19. 237,680 shares of the company traded hands, compared to its average volume of 171,432. The stock’s 50 day moving average is $61.29. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.80 and a quick ratio of 0.79. The firm has a market cap of $2.06 billion, a PE ratio of 10.43 and a beta of 1.07. Banner has a 12-month low of $49.10 and a 12-month high of $66.79.


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Banner (NASDAQ:BANRGet Rating) last posted its quarterly earnings data on Thursday, January 20th. The financial services provider reported $1.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.27. The firm had revenue of $146.00 million during the quarter, compared to the consensus estimate of $144.64 million. Banner had a return on equity of 12.42% and a net margin of 32.62%. During the same period in the prior year, the business earned $1.08 EPS. Equities analysts expect that Banner will post 4.7 EPS for the current fiscal year.

In other Banner news, VP Kenneth William Johnson sold 2,900 shares of the stock in a transaction on Monday, March 14th. The stock was sold at an average price of $61.50, for a total transaction of $178,350.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director David I. Matson sold 1,738 shares of the stock in a transaction on Monday, January 31st. The shares were sold at an average price of $61.06, for a total value of $106,122.28. The disclosure for this sale can be found here. Corporate insiders own 1.37% of the company’s stock.

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new position in shares of Banner during the 4th quarter worth $35,000. Point72 Hong Kong Ltd purchased a new position in shares of Banner during the 3rd quarter worth $90,000. PNC Financial Services Group Inc. lifted its stake in shares of Banner by 32.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,113 shares of the financial services provider’s stock worth $117,000 after purchasing an additional 513 shares during the period. Orchard Capital Managment LLC purchased a new position in shares of Banner during the 4th quarter worth $204,000. Finally, 6 Meridian purchased a new position in shares of Banner during the 3rd quarter worth $207,000. Hedge funds and other institutional investors own 83.75% of the company’s stock.

About Banner (Get Rating)

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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