Banner (NASDAQ:BANR) Given Buy (B-) Rating at Weiss Ratings

Key Points

• Banner Corporation has been restated with a "buy (B-)" rating by Weiss Ratings, amid mixed reviews from other analysts, including a downgrade to "sell" by Wall Street Zen.
• The stock's current consensus rating is "Moderate Buy" with a target price of $70.17, despite trading at $63.92 recently.
• Banner reported earnings that beat consensus estimates, with an EPS of $1.35 for the quarter, but fell short on revenue expectations with $162.98 million reported against a forecast of $167.96 million.

Banner (NASDAQ:BANR - Get Free Report)'s stock had its "buy (b-)" rating restated by equities research analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other research analysts have also issued reports on the company. Wall Street Zen lowered Banner from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. DA Davidson increased their target price on Banner from $67.00 to $72.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $70.17.

Banner Stock Performance

Banner stock traded up $0.83 during mid-day trading on Wednesday, hitting $63.92. The company had a trading volume of 226,937 shares, compared to its average volume of 214,731. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.40. Banner has a 12-month low of $54.01 and a 12-month high of $78.05. The company's fifty day moving average is $65.20 and its 200-day moving average is $63.82. The company has a market capitalization of $2.21 billion, a price-to-earnings ratio of 12.18 and a beta of 0.91.

Banner (NASDAQ:BANR - Get Free Report) last released its quarterly earnings data on Wednesday, July 16th. The financial services provider reported $1.35 EPS for the quarter, topping 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 business had revenue of $162.98 million for the quarter, compared to analyst estimates of $167.96 million. Equities research analysts predict that Banner will post 5.23 EPS for the current year.

Institutional Trading of Banner

Hedge funds and other institutional investors have recently modified their holdings of the stock. Opal Wealth Advisors LLC acquired a new stake in shares of Banner in the 1st quarter worth $34,000. EverSource Wealth Advisors LLC acquired a new stake in shares of Banner during the 2nd quarter worth about $45,000. GAMMA Investing LLC increased its position in shares of Banner by 53.9% during the 1st quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock worth $48,000 after purchasing an additional 264 shares during the last quarter. USA Financial Formulas increased its position in shares of Banner by 69.1% during the 1st quarter. USA Financial Formulas now owns 805 shares of the financial services provider's stock worth $51,000 after purchasing an additional 329 shares during the last quarter. Finally, Quarry LP increased its position in shares of Banner by 4,612.0% during the 1st quarter. Quarry LP now owns 1,178 shares of the financial services provider's stock worth $75,000 after purchasing an additional 1,153 shares during the last quarter. 87.33% of the stock is 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.

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