Banner (BANR) Cut to “Buy” at BidaskClub

BidaskClub cut shares of Banner (NASDAQ:BANR) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

Other analysts have also issued reports about the company. Zacks Investment Research raised Banner from a hold rating to a buy rating and set a $69.00 price objective on the stock in a research note on Tuesday, June 26th. Sandler O’Neill reaffirmed a buy rating and issued a $70.00 price objective on shares of Banner in a research note on Monday, July 30th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $61.00 price objective on shares of Banner in a research note on Friday, July 13th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of Hold and an average price target of $63.60.

BANR opened at $64.97 on Friday. The firm has a market cap of $2.11 billion, a PE ratio of 21.73, a P/E/G ratio of 1.79 and a beta of 0.98. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.37. Banner has a 52-week low of $52.20 and a 52-week high of $67.11.

Banner (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.14. The business had revenue of $124.28 million for the quarter, compared to analyst estimates of $121.15 million. Banner had a return on equity of 8.59% and a net margin of 14.02%. equities analysts forecast that Banner will post 3.65 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the stock. Flinton Capital Management LLC raised its position in Banner by 15.3% in the first quarter. Flinton Capital Management LLC now owns 6,524 shares of the financial services provider’s stock valued at $362,000 after purchasing an additional 868 shares during the last quarter. Citigroup Inc. raised its position in Banner by 6.3% in the first quarter. Citigroup Inc. now owns 15,822 shares of the financial services provider’s stock valued at $878,000 after purchasing an additional 940 shares during the last quarter. Prudential Financial Inc. raised its position in Banner by 1.4% in the first quarter. Prudential Financial Inc. now owns 72,413 shares of the financial services provider’s stock valued at $4,018,000 after purchasing an additional 1,000 shares during the last quarter. Neuburgh Advisers LLC raised its position in Banner by 15.3% in the first quarter. Neuburgh Advisers LLC now owns 7,922 shares of the financial services provider’s stock valued at $440,000 after purchasing an additional 1,054 shares during the last quarter. Finally, Profund Advisors LLC raised its position in Banner by 21.3% in the first quarter. Profund Advisors LLC now owns 6,241 shares of the financial services provider’s stock valued at $346,000 after purchasing an additional 1,098 shares during the last quarter. 91.96% of the stock is currently owned by institutional investors and hedge funds.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank, which provides commercial banking and financial products and services to individuals, businesses, and public sector entities primarily in the United States. It offers deposit products, 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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Analyst Recommendations for Banner (NASDAQ:BANR)

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