Banner (NASDAQ:BANR) Price Target Raised to $78.00 at Keefe, Bruyette & Woods

Banner (NASDAQ:BANR) had its price objective lifted by Keefe, Bruyette & Woods from $75.00 to $78.00 in a report issued on Monday,Benzinga reports. The brokerage currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential upside of 10.60% from the stock’s previous close.

Other equities research analysts have also recently issued reports about the company. Benchmark started coverage on Banner in a research note on Wednesday, July 8th. They set a “hold” rating for the company. DA Davidson lifted their price target on Banner from $72.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday. Weiss Ratings raised Banner from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Piper Sandler upped their price objective on Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th. Finally, Wall Street Zen lowered Banner from a “hold” rating to a “sell” rating in a research note on Saturday. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $72.75.

Banner Price Performance

BANR stock traded up $0.23 during mid-day trading on Monday, hitting $70.53. The stock had a trading volume of 60,896 shares, compared to its average volume of 305,385. The firm has a fifty day simple moving average of $66.63 and a 200 day simple moving average of $64.19. The firm has a market capitalization of $2.40 billion, a P/E ratio of 11.60 and a beta of 0.83. 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 has a 52 week low of $57.05 and a 52 week high of $72.65.

Banner (NASDAQ:BANR) 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). The firm had revenue of $172.11 million for the quarter, compared to the consensus estimate of $174.54 million. Banner had a return on equity of 10.72% and a net margin of 23.55%. As a group, research analysts forecast that Banner will post 6.17 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Royal Bank of Canada lifted its holdings in Banner by 1.0% during the 4th quarter. Royal Bank of Canada now owns 17,519 shares of the financial services provider’s stock worth $1,097,000 after buying an additional 167 shares during the period. Versant Capital Management Inc grew its stake in 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 purchasing an additional 171 shares during the period. First Trust Advisors LP increased its stake in shares of Banner by 0.4% during the 3rd quarter. First Trust Advisors LP now owns 41,634 shares of the financial services provider’s stock worth $2,727,000 after purchasing an additional 175 shares during the last quarter. US Bancorp DE lifted its holdings in Banner by 8.9% during the third quarter. US Bancorp DE now owns 2,154 shares of the financial services provider’s stock valued at $141,000 after purchasing an additional 176 shares during the last quarter. Finally, ProShare Advisors LLC grew its stake in Banner by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 6,628 shares of the financial services provider’s stock valued at $415,000 after acquiring an additional 197 shares in the last quarter. Institutional investors own 87.33% of the company’s stock.

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.