Banner (NASDAQ:BANR) Price Target Lowered to $63.00 at Piper Sandler

Banner (NASDAQ:BANR) had its price target trimmed by Piper Sandler from $67.00 to $63.00 in a report released on Thursday,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

A number of other brokerages have also recently weighed in on BANR. Wall Street Zen upgraded Banner from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Weiss Ratings upgraded shares of Banner from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Banner currently has a consensus rating of “Moderate Buy” and an average target price of $70.00.

Banner Stock Up 0.3%

BANR opened at $61.60 on Thursday. Banner has a one year low of $54.01 and a one year high of $69.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $2.10 billion, a P/E ratio of 10.92 and a beta of 0.85. The business’s 50-day simple moving average is $61.37 and its 200-day simple moving average is $62.90.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, January 21st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.46 by $0.09. The firm had revenue of $169.90 million during the quarter, compared to analysts’ expectations of $173.23 million. Banner had a return on equity of 10.46% and a net margin of 22.26%. Analysts anticipate that Banner will post 5.23 EPS for the current year.

Banner Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Stockholders of record on Tuesday, February 3rd were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date was Tuesday, February 3rd. Banner’s dividend payout ratio (DPR) is 35.46%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Banner by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,837,199 shares of the financial services provider’s stock worth $240,439,000 after purchasing an additional 44,249 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in Banner by 0.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,158,993 shares of the financial services provider’s stock valued at $135,284,000 after purchasing an additional 5,552 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in Banner by 0.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,448,700 shares of the financial services provider’s stock worth $90,776,000 after purchasing an additional 6,835 shares during the period. Westwood Holdings Group Inc. increased its position in Banner by 3.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,179,927 shares of the financial services provider’s stock worth $75,692,000 after purchasing an additional 36,940 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Banner by 19.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,347 shares of the financial services provider’s stock worth $64,878,000 after buying an additional 165,557 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Banner Company Profile

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.