Banner Corporation (NASDAQ:BANR) Receives $71.17 Average Price Target from Brokerages

Shares of Banner Corporation (NASDAQ:BANR) have earned an average rating of “Hold” from the seven research firms that are covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $71.1667.

Several equities analysts have commented on the stock. Piper Sandler reiterated a “neutral” rating and set a $70.00 price objective on shares of Banner in a research report on Monday, December 1st. Keefe, Bruyette & Woods lifted their price target on Banner from $73.00 to $74.00 and gave the stock a “market perform” rating in a research report on Friday, October 17th. Weiss Ratings reissued a “hold (c+)” rating on shares of Banner in a research note on Wednesday, January 21st. Raymond James Financial reaffirmed an “outperform” rating and issued a $70.00 price objective (down from $72.00) on shares of Banner in a research note on Friday, October 17th. Finally, DA Davidson cut their target price on Banner from $73.00 to $69.00 and set a “neutral” rating on the stock in a research report on Friday, October 17th.

Banner Stock Performance

NASDAQ:BANR opened at $61.84 on Thursday. The company has a market cap of $2.11 billion, a price-to-earnings ratio of 10.96 and a beta of 0.91. Banner has a 1 year low of $54.01 and a 1 year high of $71.75. The stock’s 50 day simple moving average is $64.31 and its two-hundred day simple moving average is $64.09. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86.

Banner (NASDAQ:BANR) last posted its earnings results on Wednesday, January 21st. The financial services provider reported $1.55 EPS for the quarter, beating analysts’ consensus estimates of $1.46 by $0.09. Banner had a return on equity of 10.46% and a net margin of 22.26%.The firm had revenue of $169.90 million during the quarter, compared to the consensus estimate of $173.23 million. As a group, equities analysts anticipate that Banner will post 5.23 earnings per share for the current fiscal year.

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Tuesday, February 3rd will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.2%. The ex-dividend date is Tuesday, February 3rd. Banner’s dividend payout ratio (DPR) is 35.46%.

Institutional Trading of Banner

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Life Planners purchased a new position in shares of Banner during the third quarter valued at approximately $32,000. Aquatic Capital Management LLC purchased a new position in Banner during the 3rd quarter valued at $36,000. EverSource Wealth Advisors LLC bought a new position in Banner in the 2nd quarter valued at $45,000. GAMMA Investing LLC increased its stake in Banner by 26.3% in the second quarter. GAMMA Investing LLC now owns 952 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 198 shares during the period. Finally, Lodestone Wealth Management LLC bought a new stake in shares of Banner during the fourth quarter worth $66,000. 87.33% of the stock is owned by hedge funds and other 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.