Banner (NASDAQ:BANR) Price Target Raised to $76.00

Banner (NASDAQ:BANR) had its price target lifted by DA Davidson from $72.00 to $76.00 in a report published on Monday, Marketbeat.com reports. DA Davidson currently has a neutral rating on the financial services provider’s stock.

Other equities research analysts also recently issued reports about the company. Piper Sandler increased their price target on Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, April 27th. Wall Street Zen cut Banner from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Benchmark initiated coverage on Banner in a research report on Wednesday, July 8th. They issued a “hold” rating on the stock. Weiss Ratings upgraded Banner from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Finally, Keefe, Bruyette & Woods lifted their target price on Banner from $73.00 to $75.00 and gave the stock a “market perform” rating in a research report on Monday, May 18th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Banner presently has a consensus rating of “Hold” and an average price target of $72.75.

Banner Price Performance

BANR stock opened at $69.96 on Monday. The stock has a market cap of $2.38 billion, a PE ratio of 11.54 and a beta of 0.83. Banner has a 12 month low of $57.05 and a 12 month high of $72.65. The company has a 50-day moving average price of $67.00 and a 200 day moving average price of $64.31. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26.

Banner (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02). Banner had a return on equity of 10.72% and a net margin of 23.55%.The firm had revenue of $172.11 million during the quarter, compared to analysts’ expectations of $174.54 million. Equities research analysts anticipate that Banner will post 6.2 earnings per share for the current year.

Banner Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th will be issued a $0.52 dividend. The ex-dividend date is Tuesday, August 4th. This represents a $2.08 annualized dividend and a dividend yield of 3.0%. Banner’s payout ratio is currently 34.32%.

Hedge Funds Weigh In On Banner

A number of hedge funds and other institutional investors have recently modified their holdings of BANR. Kemnay Advisory Services Inc. bought a new position in Banner in the fourth quarter worth approximately $31,000. Financial Life Planners purchased a new stake in Banner during the first quarter worth $30,000. Aquatic Capital Management LLC bought a new stake in Banner during the 3rd quarter valued at $36,000. EverSource Wealth Advisors LLC bought a new stake in Banner during the 2nd quarter valued at $45,000. Finally, Versant Capital Management Inc increased its holdings in shares of Banner by 31.5% in the 2nd quarter. Versant Capital Management Inc now owns 714 shares of the financial services provider’s stock valued at $47,000 after acquiring an additional 171 shares during the period. 87.33% of the stock is currently owned by institutional investors.

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.