Banner (NASDAQ:BANR) Price Target Raised to $78.00

Banner (NASDAQ:BANR) had its price target upped by Stephens from $77.00 to $78.00 in a research note released on Monday, MarketBeat reports. Stephens currently has an overweight rating on the financial services provider’s stock.

Several other brokerages have also weighed in on BANR. Benchmark assumed coverage on Banner in a research report on Wednesday, July 8th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods boosted their price target on Banner from $75.00 to $78.00 and gave the company a “market perform” rating in a research report on Monday, July 27th. DA Davidson upped their price target on Banner from $74.00 to $76.00 and gave the stock a “neutral” rating in a research note on Friday, October 23rd. Weiss Ratings restated a “buy (b)” rating on shares of Banner in a research note on Monday, September 14th. Finally, Piper Sandler cut their price objective on Banner from $74.00 to $71.00 and set a “neutral” rating on the stock in a report on Thursday, October 1st. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $75.75.

Banner Stock Down 0.9%

Shares of BANR opened at $68.68 on Monday. The firm has a market cap of $2.33 billion, a PE ratio of 11.68 and a beta of 0.83. The company’s fifty day moving average is $69.19 and its two-hundred day moving average is $66.05. Banner has a fifty-two week low of $57.05 and a fifty-two week high of $74.84. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.09.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $1.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.10. The company had revenue of $179.07 million during the quarter, compared to analysts’ expectations of $184.24 million. Banner had a net margin of 22.81% and a return on equity of 10.44%. Analysts forecast that Banner will post 6.10 earnings per share for the current year.

Banner Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Thursday, November 5th will be given a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Thursday, November 5th. Banner’s payout ratio is 35.37%.

Institutional Investors Weigh In On Banner

Institutional investors have recently bought and sold shares of the business. Nykredit A S purchased a new position in Banner in the second quarter valued at about $28,000. Financial Life Planners acquired a new position in shares of Banner during the first quarter worth about $30,000. Public Employees Retirement System of Ohio acquired a new position in shares of Banner during the second quarter worth about $36,000. Versant Capital Management Inc boosted its position in shares of Banner by 31.5% in the second quarter. Versant Capital Management Inc now owns 714 shares of the financial services provider’s stock worth $47,000 after buying an additional 171 shares during the period. Finally, Allworth Financial LP boosted its position in shares of Banner by 342.4% in the second quarter. Allworth Financial LP now owns 845 shares of the financial services provider’s stock worth $56,000 after buying an additional 654 shares during the period. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Banner Company Profile

Banner Corporation (NASDAQ: BANR) is a bank holding company headquartered in Walla Walla, Washington. Through its principal subsidiary, Banner Bank, the company provides banking and financial services to individuals, families, businesses and communities in the Pacific Northwest.

Banner Bank offers deposit products, residential and commercial real estate lending, construction and land development loans, commercial and industrial financing, agricultural loans, consumer loans and home equity products.