Banner Corporation (NASDAQ:BANR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Banner Corporation (NASDAQ:BANRGet Free Report) have been assigned an average rating of “Hold” from the six brokerages that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $71.00.

Several equities analysts recently commented on the company. Weiss Ratings upgraded Banner from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Benchmark initiated coverage on Banner in a research note on Wednesday, July 8th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods lifted their price target on Banner from $73.00 to $75.00 and gave the company a “market perform” rating in a report on Monday, May 18th. Piper Sandler upped their price objective on shares of Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, DA Davidson reiterated a “neutral” rating and set a $72.00 price objective on shares of Banner in a report on Monday, May 4th.

View Our Latest Stock Analysis on BANR

Banner Stock Down 1.6%

BANR stock opened at $69.62 on Thursday. The company has a 50 day moving average price of $66.38 and a two-hundred day moving average price of $64.10. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a market capitalization of $2.36 billion, a P/E ratio of 11.72 and a beta of 0.83. Banner has a one year low of $57.05 and a one year high of $72.65.

Banner (NASDAQ:BANRGet Free Report) last issued its quarterly earnings results 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 10.77% and a net margin of 23.24%.The business had revenue of $172.11 million for the quarter, compared to analysts’ expectations of $174.54 million. As a group, sell-side analysts expect that Banner will post 6.17 EPS for the current year.

Institutional Trading of Banner

Institutional investors and hedge funds have recently made changes to their positions in the company. Royal Bank of Canada raised its position in shares of Banner by 54.7% in the 1st quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider’s stock worth $1,412,000 after buying an additional 7,828 shares during the period. AQR Capital Management LLC grew its position in Banner by 19.6% during the first quarter. AQR Capital Management LLC now owns 29,714 shares of the financial services provider’s stock valued at $1,895,000 after acquiring an additional 4,877 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Banner by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,422 shares of the financial services provider’s stock valued at $1,302,000 after acquiring an additional 891 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in Banner during the first quarter worth about $248,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Banner by 5.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,471 shares of the financial services provider’s stock worth $7,427,000 after acquiring an additional 6,059 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

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About Banner

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Banner (NASDAQ:BANR)

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