Banner (NASDAQ:BANR) Price Target Lowered to $63.00 at Piper Sandler

Banner (NASDAQ:BANR) had its price objective decreased by investment analysts at Piper Sandler from $67.00 to $63.00 in a research note issued to investors on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s price target suggests a potential upside of 4.37% from the stock’s previous close.

Several other equities analysts have also commented on BANR. Wall Street Zen raised shares of Banner from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Weiss Ratings raised shares of Banner from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $70.00.

Banner Stock Performance

NASDAQ:BANR opened at $60.37 on Thursday. The company has a market cap of $2.06 billion, a price-to-earnings ratio of 10.76 and a beta of 0.84. Banner has a fifty-two week low of $54.01 and a fifty-two week high of $69.83. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a fifty day moving average price of $61.46 and a 200-day moving average price of $62.91.

Banner (NASDAQ:BANR) last posted its quarterly 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. The business had revenue of $169.90 million during the quarter, compared to the consensus estimate of $173.23 million. Banner had a return on equity of 10.46% and a net margin of 22.26%. As a group, equities analysts anticipate that Banner will post 5.23 EPS for the current fiscal year.

Institutional Trading of Banner

Several large investors have recently bought and sold shares of the business. UBS Group AG increased its stake in shares of Banner by 241.2% in the fourth quarter. UBS Group AG now owns 454,807 shares of the financial services provider’s stock valued at $28,498,000 after buying an additional 321,522 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in Banner during the 3rd quarter worth approximately $16,500,000. The Manufacturers Life Insurance Company grew its holdings in Banner by 19.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,347 shares of the financial services provider’s stock worth $64,878,000 after acquiring an additional 165,557 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Banner by 60.7% during the 4th quarter. Goldman Sachs Group Inc. now owns 366,689 shares of the financial services provider’s stock worth $22,977,000 after acquiring an additional 138,525 shares during the last quarter. Finally, Two Sigma Investments LP increased its position in Banner by 307.8% in the 3rd quarter. Two Sigma Investments LP now owns 173,742 shares of the financial services provider’s stock valued at $11,380,000 after acquiring an additional 131,140 shares during the period. 87.33% of the stock is owned by institutional investors and hedge funds.

About Banner

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.