Banner (NASDAQ:BANR) Price Target Cut to $51.00 by Analysts at Piper Sandler

Banner (NASDAQ:BANR) had its price objective cut by Piper Sandler from $54.00 to $51.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on BANR. Stephens reduced their price target on Banner from $54.00 to $53.00 and set an overweight rating for the company in a research report on Friday. DA Davidson cut their price objective on Banner from $50.00 to $47.00 and set a neutral rating for the company in a report on Friday. Keefe, Bruyette & Woods cut their price objective on Banner from $58.00 to $54.00 and set a market perform rating for the company in a report on Monday, January 22nd. Finally, Raymond James upped their price objective on Banner from $47.00 to $51.00 and gave the company an outperform rating in a report on Monday, January 22nd. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $51.20.

Banner Trading Up 2.8 %

NASDAQ:BANR opened at $44.94 on Friday. Banner has a 12-month low of $39.31 and a 12-month high of $55.66. The firm has a market capitalization of $1.54 billion, a P/E ratio of 9.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.83. The business has a 50 day simple moving average of $45.36 and a 200 day simple moving average of $46.46.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Thursday, January 18th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. Banner had a return on equity of 11.47% and a net margin of 21.62%. The company had revenue of $152.46 million during the quarter, compared to analyst estimates of $155.54 million. Equities research analysts predict that Banner will post 4.64 EPS for the current year.

Banner Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Monday, April 29th. Banner’s dividend payout ratio (DPR) is presently 39.92%.

Institutional Investors Weigh In On Banner

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BNP Paribas Arbitrage SA raised its position in shares of Banner by 1.3% during the second quarter. BNP Paribas Arbitrage SA now owns 14,703 shares of the financial services provider’s stock worth $826,000 after purchasing an additional 191 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Banner by 0.6% during the third quarter. UBS Asset Management Americas Inc. now owns 38,436 shares of the financial services provider’s stock worth $2,271,000 after purchasing an additional 227 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Banner by 19.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,535 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 245 shares during the period. Bank of Montreal Can raised its position in Banner by 2.3% during the first quarter. Bank of Montreal Can now owns 11,310 shares of the financial services provider’s stock valued at $697,000 after buying an additional 254 shares during the period. Finally, Eagle Bay Advisors LLC raised its position in Banner by 126.7% during the second quarter. Eagle Bay Advisors LLC now owns 501 shares of the financial services provider’s stock valued at $28,000 after buying an additional 280 shares during the period. 87.33% of the stock is owned by institutional investors and hedge funds.

About Banner

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans.