Zacks Investment Research Upgrades Banner (BANR) to “Buy”

Banner (NASDAQ:BANR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The brokerage currently has a $65.00 target price on the financial services provider’s stock. Zacks Investment Research‘s target price would indicate a potential upside of 11.26% from the stock’s previous close.

According to Zacks, “Banner Corporation is a bank holding company operating two commercial banks in five Western states through a network of branches offering a full range of deposit services and business, commercial real estate, construction, residential, agricultural and consumer loans. “

Other equities research analysts also recently issued research reports about the company. ValuEngine raised Banner from a “hold” rating to a “buy” rating in a report on Friday, September 15th. Piper Jaffray Companies downgraded Banner from an “overweight” rating to a “neutral” rating and set a $59.00 target price for the company. in a report on Thursday, October 26th. DA Davidson downgraded Banner from a “buy” rating to a “neutral” rating in a report on Thursday, October 26th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $60.00 target price on shares of Banner in a report on Friday, December 22nd. Finally, BidaskClub downgraded Banner from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $61.00.

Shares of Banner (NASDAQ BANR) opened at $58.42 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.94 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $1,916.85, a PE ratio of 19.87, a price-to-earnings-growth ratio of 1.92 and a beta of 1.07. Banner has a twelve month low of $51.61 and a twelve month high of $62.75.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.76 earnings per share for the quarter, missing the consensus estimate of $0.77 by ($0.01). The business had revenue of $120.55 million during the quarter, compared to analyst estimates of $123.58 million. Banner had a return on equity of 7.52% and a net margin of 19.70%. sell-side analysts forecast that Banner will post 3.05 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Zions Bancorporation acquired a new stake in shares of Banner during the third quarter worth about $122,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Banner by 236.2% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,135 shares of the financial services provider’s stock worth $121,000 after purchasing an additional 1,500 shares during the period. Riverhead Capital Management LLC raised its position in Banner by 182.8% during the second quarter. Riverhead Capital Management LLC now owns 2,262 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 1,462 shares in the last quarter. Ameritas Investment Partners Inc. raised its position in Banner by 11.6% during the second quarter. Ameritas Investment Partners Inc. now owns 2,893 shares of the financial services provider’s stock valued at $163,000 after acquiring an additional 300 shares in the last quarter. Finally, Flinton Capital Management LLC raised its position in Banner by 200.0% during the second quarter. Flinton Capital Management LLC now owns 3,528 shares of the financial services provider’s stock valued at $199,000 after acquiring an additional 2,352 shares in the last quarter. 91.58% of the stock is owned by hedge funds and other institutional investors.

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About Banner

Banner Corporation is a bank holding company. The Company is engaged in the business of planning, directing and coordinating the business activities of its subsidiaries, Banner Bank and Islanders Bank. Banner Bank is a Washington-chartered commercial bank. Banner Bank is a regional bank, which offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its primary market areas.

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