Keefe Bruyette & Woods Maintains Banner Corporation to Market Perform with Price Target $48.00

Brokerage firm Keefe Bruyette & Woods Maintains its rating on Banner Corporation(NASDAQ:BANR). In a research note issued to the investors, the brokerage major Lowers the price-target to $48.00 per share. The shares have been rated Market Perform. The rating by Keefe Bruyette & Woods was issued on Jul 28, 2016.

Banner Corporation (BANR) made into the market gainers list on Thursdays trading session with the shares advancing 0.02% or 0.01 points. Due to strong positive momentum, the stock ended at $41.42, which is also near the day’s high of $41.75. The stock began the session at $41.45 and the volume stood at 1,19,493 shares. The 52-week high of the shares is $53.55 and the 52 week low is $35.39. The company has a current market capitalization of $1,423 M and it has 3,43,55,584 shares in outstanding.

Banner Corporation(BANR) last announced its earnings results on Jul 26, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $113.69M. Analysts had an estimated revenue of $91.90M. Earnings per share were $0.66. Analysts had estimated an EPS of $0.72.

Several Insider Transactions has been reported to the SEC. On May 9, 2016, Douglas M Bennett (Executive VP, Banner Bank) sold 1,386 shares at $41.78 per share price.Also, On Mar 8, 2016, Steven W Rust (Executive VP Banner Bank) sold 304 shares at $42.02 per share price.On Dec 3, 2015, Brent A Orrico (director) sold 200 shares at $51.51 per share price, according to the Form-4 filing with the securities and exchange commission.

Banner Corporation is a bank holding company for its wholly owned 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. Islanders Bank is a community bank that offers banking services to individuals businesses and public entities located primarily in the San Juan Islands. The Banks’ primary business includes accepting deposits and originating loans in locations surrounding its offices in portions of Washington Oregon and Idaho. Banner Bank also engages in mortgage banking operations primarily through the origination and sale of one to four-family residential loans. As of December 31 2014 the Company had total consolidated assets of $4.7 billion net loans of $3.8 billion total deposits of $3.9 billion and total stockholders’ equity of $584 million.

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