FBR Capital Reiterates a Hold Rating on Banner Corp

By Austin Angelo

In a report released today, Steve Moss from FBR Capital reiterated a Hold rating on Banner Corp (NASDAQ: BANR), with a price target of $46. The company’s shares opened today at $44.72.

Moss noted:

“Banner Corporation (BANR) reported solid operating earnings of $0.73, a penny below our estimate but $0.02 above consensus. Results were below our estimate primarily due to lower-than-modeled purchase accounting accretion. Excluding run- off, loan growth was solid as BANR seeks to maintain its balance sheet under $10 billion in assets. That said, longer-term earnings headwinds are unavoidable as BANR will likely cross the $10 billion asset threshold in 2017. Accordingly, we believe earnings challenges limit upside potential at current levels, and we reiterate our Market Perform rating and $46 price target.”

According to TipRanks.com, Moss is a 2-star analyst with an average return of -0.1% and a 66.7% success rate. Moss covers the Financial sector, focusing on stocks such as Prosperity Bancshares, Regions Financial, and SunTrust Banks.

Banner Corp has an analyst consensus of Moderate Buy, with a price target consensus of $52.

The company has a one year high of $53.55 and a one year low of $35.39. Currently, Banner Corp has an average volume of 197.1K.

Based on the recent corporate insider activity of 123 insiders, corporate insider sentiment is neutral on the stock. Earlier this month, GILLFILLAN MICHAEL J, a a Director at BANR bought 100 shares for a total of $4,853.

Banner Corp. operates as a holding company for Banner Bank. The company, through its subsidiaries, offers a full range of deposit services, and business, commercial real estate, construction, residential, agricultural and consumer loans. The company was founded in 1995 and is headquartered in Walla Walla, WA.