Banner Corporation Announces Stock Repurchase Program

By Tamara Parker • Friday, July 26 06:11 • Permanent Link

Banner Corporation (NASDAQ GSM: BANR) has announced a stock repurchase program, authorizing the repurchase of up to 1,722,787 shares of the company's common stock, which represents approximately 5% of its issued and outstanding common stock.

The company's president and CEO, Mark J. Grescovich, stated that the decision to repurchase stock is based on the belief that their stock offers an attractive investment and is a means for building long-term shareholder value.

Banner Corporation is a $15.82 billion bank holding company operating a commercial bank in four 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.

This announcement indicates the company's confidence in its financial position and its commitment to enhancing shareholder value. Today the company's shares have moved 2.7% to a price of $60.07. Check out the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.