Banner (NASDAQ:BANR – Get Free Report) had its price objective increased by research analysts at Stephens from $77.00 to $78.00 in a research report issued on Monday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Stephens‘s price target would indicate a potential upside of 10.98% from the company’s previous close.
A number of other research firms also recently issued reports on BANR. DA Davidson upped their target price on shares of Banner from $74.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday. Benchmark initiated coverage on shares of Banner in a research report on Wednesday, July 8th. They set a “hold” rating for the company. Wall Street Zen downgraded shares of Banner from a “hold” rating to a “sell” rating in a research note on Saturday, July 25th. Weiss Ratings restated a “buy (b)” rating on shares of Banner in a report on Monday, September 14th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Banner from $75.00 to $78.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $75.75.
Read Our Latest Stock Analysis on BANR
Banner Stock Performance
Shares of BANR stock opened at $70.28 on Monday. The company has a market capitalization of $2.39 billion, a P/E ratio of 11.95 and a beta of 0.83. Banner has a 12-month low of $57.05 and a 12-month 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. The firm has a 50-day moving average price of $69.37 and a 200 day moving average price of $67.75.
Banner (NASDAQ:BANR – Get Free Report) last announced its earnings results on Wednesday, October 21st. The financial services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. The company had revenue of $179.07 million for the quarter, compared to analysts’ expectations of $184.24 million. Banner had a return on equity of 10.44% and a net margin of 22.81%. Research analysts forecast that Banner will post 6.12 earnings per share for the current fiscal year.
Institutional Investors Weigh In On Banner
A number of hedge funds and other institutional investors have recently made changes to their positions in BANR. Bank of New York Mellon Corp acquired a new position in shares of Banner during the second quarter worth about $20,508,000. North Reef Capital Management LP acquired a new stake in Banner in the 1st quarter valued at approximately $11,860,000. Bank of America Corp DE raised its position in Banner by 25.4% in the 1st quarter. Bank of America Corp DE now owns 171,439 shares of the financial services provider’s stock valued at $10,403,000 after buying an additional 34,679 shares during the last quarter. First Trust Advisors LP raised its position in Banner by 71.9% in the 1st quarter. First Trust Advisors LP now owns 69,297 shares of the financial services provider’s stock valued at $4,205,000 after buying an additional 28,987 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in Banner by 114.6% in the 1st quarter. SG Americas Securities LLC now owns 48,508 shares of the financial services provider’s stock valued at $2,943,000 after acquiring an additional 25,903 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.
About Banner
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.
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