Banner (NASDAQ:BANR) Stock Rating Lowered by Weiss Ratings

Key Points

• Banner Corporation (NASDAQ:BANR) has been downgraded by Weiss Ratings from a "buy (b-)" to a "hold (c+)" rating, indicating a potential decline in investment appeal.
• Other analysts have adjusted their target prices for Banner, with DA Davidson lowering its target from $73.00 to $69.00 while Raymond James reissued an "outperform" rating with a new price target of $70.00.
• Banner reported earnings of $1.52 per share, surpassing analysts' estimates, but revenue of $168.75 million fell short of consensus expectations of $171.52 million.

Banner (NASDAQ:BANR - Get Free Report) was downgraded by equities research analysts at Weiss Ratings from a "buy (b-)" rating to a "hold (c+)" rating in a research note issued to investors on Friday,Weiss Ratings reports.

BANR has been the topic of several other research reports. DA Davidson dropped their target price on shares of Banner from $73.00 to $69.00 and set a "neutral" rating on the stock in a research report on Friday, October 17th. Raymond James Financial reissued an "outperform" rating and issued a $70.00 target price (down from $72.00) on shares of Banner in a research report on Friday, October 17th. Keefe, Bruyette & Woods lifted their price target on Banner from $73.00 to $74.00 and gave the company a "market perform" rating in a research report on Friday, October 17th. Finally, Wall Street Zen upgraded Banner from a "sell" rating to a "hold" rating in a research report on Saturday, October 18th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $71.40.

Banner Stock Down 0.0%

BANR stock traded down $0.02 during mid-day trading on Friday, reaching $63.17. 227,501 shares of the company traded hands, compared to its average volume of 219,155. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 11.51 and a beta of 0.91. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. Banner has a fifty-two week low of $54.01 and a fifty-two week high of $78.05. The firm's 50 day moving average price is $65.11 and its 200 day moving average price is $63.83.

Banner (NASDAQ:BANR - Get Free Report) last released its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.41 by $0.11. The business had revenue of $168.75 million during the quarter, compared to the consensus estimate of $171.52 million. Banner had a return on equity of 10.32% and a net margin of 21.80%. As a group, equities research analysts predict that Banner will post 5.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Banner

Hedge funds have recently added to or reduced their stakes in the company. Victory Capital Management Inc. lifted its stake in shares of Banner by 20.3% in the 1st quarter. Victory Capital Management Inc. now owns 2,047,260 shares of the financial services provider's stock valued at $130,554,000 after acquiring an additional 345,607 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Banner by 4.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,439,174 shares of the financial services provider's stock valued at $91,776,000 after acquiring an additional 59,653 shares during the last quarter. Westwood Holdings Group Inc. lifted its stake in shares of Banner by 3.2% in the 2nd quarter. Westwood Holdings Group Inc. now owns 1,179,927 shares of the financial services provider's stock valued at $75,692,000 after acquiring an additional 36,940 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Banner by 19.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,347 shares of the financial services provider's stock valued at $64,878,000 after acquiring an additional 165,557 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Banner by 0.5% in the 2nd quarter. Geode Capital Management LLC now owns 866,906 shares of the financial services provider's stock valued at $55,619,000 after acquiring an additional 3,921 shares during the last quarter. Institutional investors own 87.33% of the company's stock.

About Banner

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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