BidaskClub lowered shares of Banner Corporation (NASDAQ:BANR) from a hold rating to a sell rating in a research note released on Thursday.

Several other analysts have also issued reports on BANR. Zacks Investment Research upgraded Banner Corporation from a sell rating to a buy rating and set a $63.00 target price on the stock in a research note on Monday, July 3rd. Piper Jaffray Companies lowered their target price on Banner Corporation from $64.00 to $62.00 and set an overweight rating on the stock in a research note on Monday, April 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $55.75.

Banner Corporation (NASDAQ:BANR) traded down 0.14% during midday trading on Thursday, reaching $57.80. The company had a trading volume of 52,850 shares. The firm has a market capitalization of $1.92 billion, a price-to-earnings ratio of 20.13 and a beta of 1.04. The stock’s 50 day moving average is $56.27 and its 200 day moving average is $56.13. Banner Corporation has a 12-month low of $39.62 and a 12-month high of $60.97.

Banner Corporation (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, July 26th. The financial services provider reported $0.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.72 by $0.06. Banner Corporation had a return on equity of 7.50% and a net margin of 19.63%. The business had revenue of $122.18 million for the quarter, compared to analysts’ expectations of $119.46 million. Equities research analysts expect that Banner Corporation will post $2.99 earnings per share for the current year.

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The company also recently announced a quarterly dividend, which was paid on Tuesday, July 18th. Shareholders of record on Monday, July 10th were paid a $1.25 dividend. The ex-dividend date was Thursday, July 6th. This represents a $5.00 annualized dividend and a dividend yield of 8.64%. Banner Corporation’s payout ratio is presently 34.72%.

In other Banner Corporation news, Director Gary Sirmon sold 3,333 shares of the business’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $56.77, for a total value of $189,214.41. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last 90 days, insiders sold 7,005 shares of company stock worth $392,450. Corporate insiders own 1.71% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in shares of Banner Corporation by 16.0% in the fourth quarter. AQR Capital Management LLC now owns 21,863 shares of the financial services provider’s stock valued at $1,220,000 after buying an additional 3,010 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in shares of Banner Corporation by 1.3% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 7,600 shares of the financial services provider’s stock valued at $424,000 after buying an additional 100 shares during the last quarter. Norges Bank purchased a new stake in shares of Banner Corporation during the fourth quarter valued at about $12,175,000. Teachers Advisors LLC raised its stake in shares of Banner Corporation by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 276,302 shares of the financial services provider’s stock valued at $15,420,000 after buying an additional 14,975 shares during the last quarter. Finally, Creative Planning raised its stake in shares of Banner Corporation by 0.3% in the first quarter. Creative Planning now owns 1,828 shares of the financial services provider’s stock valued at $102,000 after buying an additional 6 shares during the last quarter. Hedge funds and other institutional investors own 88.75% of the company’s stock.

About Banner Corporation

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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