Banner Corporation (NASDAQ:BANR) Given Average Rating of "Moderate Buy" by Brokerages

Key Points

• Banner Corporation has received a consensus rating of "Moderate Buy" from five brokerages, with two analysts recommending a hold and three a buy.
• The company's stock has a 12-month price target average of $70.17, with recent ratings adjusting between $65.00 and $73.00 from different firms.
• Banner plans to pay a quarterly dividend of $0.48 per share, reflecting an annualized dividend of $1.92 and a dividend yield of 3.0%.

Banner Corporation (NASDAQ:BANR - Get Free Report) has been assigned an average rating of "Moderate Buy" from the five brokerages that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $70.1667.

BANR has been the topic of a number of recent research reports. Janney Montgomery Scott upgraded shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 price target on the stock in a research note on Monday, April 21st. Wall Street Zen downgraded shares of Banner from a "hold" rating to a "sell" rating in a research note on Saturday. DA Davidson raised their price target on shares of Banner from $67.00 to $72.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Stephens restated an "overweight" rating and issued a $73.00 price target on shares of Banner in a research note on Monday, April 21st. Finally, Keefe, Bruyette & Woods reduced their price objective on Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a research note on Monday, April 21st.

Banner Trading Up 1.0%

NASDAQ:BANR traded up $0.60 during trading hours on Thursday, reaching $62.51. 158,617 shares of the stock were exchanged, compared to its average volume of 253,625. Banner has a twelve month low of $52.86 and a twelve month high of $78.05. The business has a 50-day moving average of $64.30 and a two-hundred day moving average of $64.35. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of 11.91 and a beta of 0.93. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.40.

Banner (NASDAQ:BANR - Get Free Report) last posted its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.32 by $0.03. Banner had a return on equity of 10.06% and a net margin of 21.15%. The firm had revenue of $162.98 million for the quarter, compared to the consensus estimate of $167.96 million. On average, equities analysts predict that Banner will post 5.23 EPS for the current year.

Banner Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 15th. Shareholders of record on Tuesday, August 5th will be given a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.1%. Banner's dividend payout ratio is currently 36.57%.

Institutional Investors Weigh In On Banner

Hedge funds and other institutional investors have recently modified their holdings of the company. Opal Wealth Advisors LLC purchased a new stake in Banner during the first quarter worth approximately $34,000. GAMMA Investing LLC raised its holdings in Banner by 53.9% during the first quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock worth $48,000 after purchasing an additional 264 shares in the last quarter. USA Financial Formulas raised its holdings in Banner by 69.1% during the first quarter. USA Financial Formulas now owns 805 shares of the financial services provider's stock worth $51,000 after purchasing an additional 329 shares in the last quarter. Sterling Capital Management LLC lifted its position in shares of Banner by 816.9% during the 4th quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock worth $72,000 after buying an additional 964 shares during the last quarter. Finally, Quarry LP boosted its holdings in shares of Banner by 4,612.0% in the 1st quarter. Quarry LP now owns 1,178 shares of the financial services provider's stock valued at $75,000 after buying an additional 1,153 shares in the last quarter. 87.33% 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 that engages in the provision of 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.