Zacks Investment Research cut shares of Banner (NASDAQ:BANR) from a buy rating to a hold rating in a report published on Monday morning, Zacks.com reports.

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. “

Several other research analysts also recently commented on BANR. ValuEngine downgraded shares of Banner from a hold rating to a sell rating in a report on Tuesday, August 27th. BidaskClub downgraded shares of Banner from a buy rating to a hold rating in a report on Saturday, August 10th. DA Davidson raised shares of Banner from a neutral rating to a buy rating in a report on Tuesday, June 11th. Stephens reissued a hold rating on shares of Banner in a report on Thursday, July 25th. Finally, Raymond James cut their price target on shares of Banner from $64.00 to $62.00 and set an outperform rating for the company in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. Banner currently has an average rating of Hold and a consensus target price of $60.25.

Shares of NASDAQ:BANR opened at $54.15 on Monday. The firm has a fifty day moving average price of $54.92 and a two-hundred day moving average price of $55.01. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.97 and a quick ratio of 0.95. Banner has a one year low of $48.50 and a one year high of $66.72. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 13.24, a PEG ratio of 1.79 and a beta of 0.84.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, July 24th. The financial services provider reported $1.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.05 by $0.09. Banner had a net margin of 25.14% and a return on equity of 10.43%. The firm had revenue of $137.37 million during the quarter, compared to the consensus estimate of $137.47 million. Equities research analysts expect that Banner will post 4.21 EPS for the current fiscal year.

In other news, Director John R. Layman sold 500 shares of Banner stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $55.17, for a total transaction of $27,585.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.51% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. lifted its holdings in shares of Banner by 3.3% during the 2nd quarter. BlackRock Inc. now owns 5,232,052 shares of the financial services provider’s stock worth $283,315,000 after acquiring an additional 167,988 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Banner by 13.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 968,932 shares of the financial services provider’s stock worth $52,468,000 after acquiring an additional 113,090 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Banner by 5.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 883,225 shares of the financial services provider’s stock worth $47,827,000 after acquiring an additional 44,148 shares during the last quarter. Citadel Advisors LLC lifted its holdings in shares of Banner by 51.5% during the 2nd quarter. Citadel Advisors LLC now owns 595,236 shares of the financial services provider’s stock worth $32,232,000 after acquiring an additional 202,287 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of Banner by 12.5% during the 2nd quarter. Northern Trust Corp now owns 535,510 shares of the financial services provider’s stock worth $28,998,000 after acquiring an additional 59,558 shares during the last quarter. 83.47% of the stock is owned by institutional investors.

Banner Company Profile

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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