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

Key Points

• Analyst consensus is “Hold”: Four of six analysts rate Banner Corporation neutral, while two recommend buying. The average 12-month price target is $72.75 versus the stock’s reported price of $70.82.
• Banner’s latest quarterly results fell slightly short of expectations, with earnings per share of $1.44 versus the $1.46 consensus and revenue of $172.11 million versus $174.54 million expected.
• The company paid a quarterly dividend of $0.52 per share, equivalent to a $2.08 annualized payout and a 2.9% yield. Institutional investors own 87.33% of the stock, with several major funds recently increasing their positions.

Banner Corporation (NASDAQ:BANR - Get Free Report) has received an average rating of "Hold" from the six analysts that are presently covering the firm, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $72.75.

Several analysts recently commented on BANR shares. Benchmark assumed coverage on shares of Banner in a research report on Wednesday, July 8th. They issued a "hold" rating for the company. Keefe, Bruyette & Woods raised their price objective on shares of Banner from $75.00 to $78.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. DA Davidson lifted their price objective on shares of Banner from $72.00 to $76.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Wall Street Zen cut shares of Banner from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Finally, Weiss Ratings upgraded shares of Banner from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, June 18th.

Banner Stock Up 0.6%

Shares of NASDAQ BANR opened at $70.82 on Friday. The business has a 50-day moving average price of $70.40 and a 200 day moving average price of $65.90. The stock has a market cap of $2.41 billion, a PE ratio of 11.69 and a beta of 0.82. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. Banner has a 52-week low of $57.05 and a 52-week high of $74.84.

Banner (NASDAQ:BANR - Get Free Report) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share for the quarter, missing analysts' consensus estimates of $1.46 by ($0.02). The firm had revenue of $172.11 million during the quarter, compared to analysts' expectations of $174.54 million. Banner had a net margin of 23.55% and a return on equity of 10.72%. Equities research analysts forecast that Banner will post 6.18 earnings per share for the current year.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Tuesday, August 4th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $2.08 annualized dividend and a yield of 2.9%. Banner's dividend payout ratio is currently 34.32%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System raised its stake in shares of Banner by 6,369.3% during the second quarter. California State Teachers Retirement System now owns 2,630,426 shares of the financial services provider's stock worth $174,766,000 after purchasing an additional 2,589,766 shares during the last quarter. Bank of New York Mellon Corp purchased a new position in Banner in the 2nd quarter valued at $20,508,000. North Reef Capital Management LP purchased a new position in Banner in the 1st quarter valued at $11,860,000. The Manufacturers Life Insurance Company increased its stake in 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 buying an additional 165,557 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Banner by 60.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 366,689 shares of the financial services provider's stock valued at $22,977,000 after buying an additional 138,525 shares during the period. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

About Banner

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.

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