Banner (NASDAQ:BANR) Upgraded to Buy at DA Davidson

DA Davidson upgraded shares of Banner (NASDAQ:BANR) from a neutral rating to a buy rating in a report released on Tuesday morning, Briefing.com Automated Import reports.

Several other equities analysts also recently commented on the stock. Raymond James set a $62.00 price target on shares of Banner and gave the company a buy rating in a research note on Thursday, April 4th. BidaskClub upgraded shares of Banner from a strong sell rating to a sell rating in a research note on Friday, March 29th. Zacks Investment Research downgraded shares of Banner from a buy rating to a hold rating in a research note on Tuesday, March 26th. Finally, ValuEngine downgraded shares of Banner from a hold rating to a sell rating in a research note on Thursday, March 21st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus target price of $61.50.

BANR stock opened at $52.43 on Tuesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.94 and a current ratio of 0.94. Banner has a 52 week low of $48.50 and a 52 week high of $67.11. The stock has a market capitalization of $1.83 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 1.81 and a beta of 0.76.

Banner (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, April 24th. The financial services provider reported $0.99 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by ($0.07). Banner had a net margin of 24.74% and a return on equity of 10.39%. The business had revenue of $134.23 million during the quarter, compared to analyst estimates of $139.04 million. On average, analysts predict that Banner will post 4.12 EPS for the current year.

In related news, VP Steven W. Rust sold 491 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $53.39, for a total transaction of $26,214.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.51% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Marshall Wace LLP acquired a new position in shares of Banner in the first quarter valued at approximately $830,000. Nordea Investment Management AB increased its stake in shares of Banner by 10.7% in the first quarter. Nordea Investment Management AB now owns 79,746 shares of the financial services provider’s stock valued at $4,320,000 after buying an additional 7,717 shares during the period. Dana Investment Advisors Inc. acquired a new position in shares of Banner in the first quarter valued at approximately $2,094,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Banner by 50.6% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 2,132 shares of the financial services provider’s stock valued at $116,000 after buying an additional 716 shares during the period. Finally, Pinebridge Investments L.P. increased its stake in shares of Banner by 27.6% in the first quarter. Pinebridge Investments L.P. now owns 33,309 shares of the financial services provider’s stock valued at $1,805,000 after buying an additional 7,210 shares during the period. 84.09% of the stock is owned by institutional investors and hedge funds.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank and Islanders Bank that 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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