Published On: Mon, Sep 12th, 2016

Banner Corp. (BANR) Upgraded to “Hold” at Zacks Investment Research

Banner Corp. (NASDAQ:BANR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report issued on Monday.
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. “
BANR has been the topic of a number of other reports. DA Davidson restated a “buy” rating and issued a $52.00 target price on shares of Banner Corp. in a report on Tuesday, August 23rd. FBR & Co reduced their target price on shares of Banner Corp. from $50.00 to $48.00 and set a “market perform” rating on the stock in a report on Friday, July 29th. Finally, Keefe, Bruyette & Woods reduced their target price on shares of Banner Corp. from $49.00 to $48.00 and set a “market perform” rating on the stock in a report on Thursday, July 28th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $50.40.

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Shares of Banner Corp. (NASDAQ:BANR) traded up 2.19% on Monday, hitting $44.33. 297,227 shares of the company were exchanged. The firm has a market cap of $1.52 billion, a P/E ratio of 23.27 and a beta of 1.70. The company has a 50-day moving average price of $42.95 and a 200 day moving average price of $42.41. Banner Corp. has a 52-week low of $35.39 and a 52-week high of $53.55.
Banner Corp. (NASDAQ:BANR) last issued its quarterly earnings data on Tuesday, July 26th. The financial services provider reported $0.67 EPS for the quarter, missing the Zacks’ consensus estimate of $0.72 by $0.05. Banner Corp. had a net margin of 13.96% and a return on equity of 6.70%. Analysts predict that Banner Corp. will post $2.76 EPS for the current fiscal year.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Prudential Financial Inc. raised its position in shares of Banner Corp. by 12.6% in the first quarter. Prudential Financial Inc. now owns 107,927 shares of the financial services provider’s stock valued at $4,537,000 after buying an additional 12,100 shares during the last quarter. BlackRock Group LTD raised its position in shares of Banner Corp. by 7.5% in the first quarter. BlackRock Group LTD now owns 27,996 shares of the financial services provider’s stock valued at $1,178,000 after buying an additional 1,954 shares during the last quarter. Menta Capital LLC raised its position in shares of Banner Corp. by 65.3% in the first quarter. Menta Capital LLC now owns 8,100 shares of the financial services provider’s stock valued at $341,000 after buying an additional 3,200 shares during the last quarter. Kennedy Capital Management Inc. raised its position in shares of Banner Corp. by 3.7% in the first quarter. Kennedy Capital Management Inc. now owns 450,450 shares of the financial services provider’s stock valued at $18,937,000 after buying an additional 16,278 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Banner Corp. by 6.3% in the first quarter. Renaissance Technologies LLC now owns 445,499 shares of the financial services provider’s stock valued at $18,729,000 after buying an additional 26,600 shares during the last quarter. Institutional investors and hedge funds own 77.17% of the company’s stock.
About Banner Corp.
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 regional bank that offers a range of commercial banking services and financial products to individuals, businesses and public sector entities in its market areas.

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