Banner Co. (NASDAQ:BANR - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $59.68, but opened at $57.79. Banner shares last traded at $61.18, with a volume of 33,881 shares trading hands.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on BANR shares. Raymond James reissued an "outperform" rating and set a $65.00 price target (down from $77.00) on shares of Banner in a research report on Monday. DA Davidson upped their price objective on Banner from $73.00 to $76.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Janney Montgomery Scott upgraded shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 target price on the stock in a report on Monday. Keefe, Bruyette & Woods decreased their price objective on shares of Banner from $75.00 to $73.00 and set a "market perform" rating for the company in a research report on Monday. Finally, Stephens reaffirmed an "overweight" rating and issued a $73.00 target price on shares of Banner in a report on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, Banner currently has an average rating of "Hold" and a consensus price target of $70.83.
Check Out Our Latest Report on BANR
Banner Stock Up 2.6 %
The firm has a 50-day moving average price of $63.55 and a 200 day moving average price of $67.16. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 12.56 and a beta of 0.94. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.86 and a quick ratio of 0.85.
Banner (NASDAQ:BANR - Get Free Report) last released its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $1.23 by $0.06. Banner had a net margin of 20.28% and a return on equity of 10.03%. The business had revenue of $159.88 million for the quarter, compared to analyst estimates of $159.72 million. During the same period last year, the firm earned $1.22 earnings per share. Sell-side analysts predict that Banner Co. will post 5.23 EPS for the current year.
Banner Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, May 9th. Stockholders of record on Tuesday, April 29th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.13%. The ex-dividend date is Tuesday, April 29th. Banner's dividend payout ratio (DPR) is currently 37.72%.
Institutional Investors Weigh In On Banner
A number of large investors have recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in Banner by 1.5% in the third quarter. Geode Capital Management LLC now owns 823,763 shares of the financial services provider's stock valued at $49,073,000 after acquiring an additional 11,808 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Banner by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,379,521 shares of the financial services provider's stock worth $92,111,000 after buying an additional 49,457 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Banner in the fourth quarter valued at about $274,000. William Blair Investment Management LLC grew its position in Banner by 10,213.3% in the fourth quarter. William Blair Investment Management LLC now owns 634,579 shares of the financial services provider's stock valued at $42,371,000 after acquiring an additional 628,426 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in Banner by 7.7% during the third quarter. JPMorgan Chase & Co. now owns 409,885 shares of the financial services provider's stock worth $24,413,000 after acquiring an additional 29,174 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.
About Banner
(
Get Free Report)
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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