Banner (NASDAQ:BANR) PT Lowered to $47.00

Banner (NASDAQ:BANR) had its price target lowered by equities research analysts at DA Davidson from $50.00 to $47.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price objective suggests a potential upside of 4.58% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Keefe, Bruyette & Woods cut their price objective on Banner from $58.00 to $54.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Raymond James increased their price target on Banner from $47.00 to $51.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Finally, Stephens dropped their price target on Banner from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Banner presently has an average rating of “Moderate Buy” and an average target price of $51.20.

Banner Trading Up 2.8 %

Shares of NASDAQ BANR opened at $44.94 on Friday. The stock’s 50 day moving average price is $45.36 and its two-hundred day moving average price is $46.49. Banner has a 52-week low of $39.31 and a 52-week high of $55.66. The stock 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 quick ratio of 0.83, a current ratio of 0.82 and a debt-to-equity ratio of 0.24.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Thursday, January 18th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.03. Banner had a return on equity of 11.47% and a net margin of 21.62%. The firm had revenue of $152.46 million for the quarter, compared to analysts’ expectations of $155.54 million. On average, analysts anticipate that Banner will post 4.64 earnings per share for the current fiscal year.

Institutional Trading of Banner

Large investors have recently added to or reduced their stakes in the business. Numerai GP LLC increased its position in Banner by 131.1% in the 3rd quarter. Numerai GP LLC now owns 98,819 shares of the financial services provider’s stock valued at $4,188,000 after acquiring an additional 56,067 shares during the period. Illinois Municipal Retirement Fund acquired a new stake in Banner in the 3rd quarter valued at approximately $836,000. Vanguard Group Inc. increased its position in Banner by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,146,849 shares of the financial services provider’s stock valued at $175,743,000 after acquiring an additional 36,850 shares during the period. Victory Capital Management Inc. increased its position in Banner by 950.6% in the 3rd quarter. Victory Capital Management Inc. now owns 184,833 shares of the financial services provider’s stock valued at $7,833,000 after acquiring an additional 167,240 shares during the period. Finally, Federated Hermes Inc. acquired a new stake in Banner in the 3rd quarter valued at approximately $45,000. 87.33% of the stock is currently 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.