Stephens Trims Banner (NASDAQ:BANR) Target Price to $53.00

Banner (NASDAQ:BANR) had its price objective trimmed by Stephens from $54.00 to $53.00 in a report issued on Friday morning, Benzinga reports. The firm currently has an overweight rating on the financial services provider’s stock.

A number of other analysts have also recently commented on the company. Keefe, Bruyette & Woods reduced their price target on Banner from $58.00 to $54.00 and set a market perform rating for the company in a research report on Monday, January 22nd. Raymond James increased their target price on Banner from $47.00 to $51.00 and gave the stock an outperform rating in a research report on Monday, January 22nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $51.20.

Banner Stock Performance

Shares of BANR opened at $45.22 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.24. The business has a 50-day simple moving average of $45.36 and a two-hundred day simple moving average of $46.54. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 9.40 and a beta of 1.03. Banner has a 52 week low of $39.31 and a 52 week high of $55.66.

Banner Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Tuesday, April 30th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 4.25%. The ex-dividend date is Monday, April 29th. Banner’s dividend payout ratio is currently 39.92%.

Hedge Funds Weigh In On Banner

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BANR. Victory Capital Management Inc. boosted its stake in Banner by 247.2% during the fourth quarter. Victory Capital Management Inc. now owns 641,701 shares of the financial services provider’s stock valued at $34,370,000 after buying an additional 456,868 shares during the last quarter. Norges Bank bought a new position in Banner during the fourth quarter valued at approximately $12,097,000. Hsbc Holdings PLC boosted its stake in Banner by 2,700.2% during the fourth quarter. Hsbc Holdings PLC now owns 221,243 shares of the financial services provider’s stock valued at $11,861,000 after buying an additional 213,342 shares during the last quarter. Channing Capital Management LLC bought a new position in Banner during the fourth quarter valued at approximately $8,293,000. Finally, The Manufacturers Life Insurance Company boosted its stake in Banner by 9.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 820,511 shares of the financial services provider’s stock valued at $43,947,000 after buying an additional 70,143 shares during the last quarter. 87.33% of the stock is owned by institutional investors.

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.