DA Davidson Reiterates “Neutral” Rating for Banner (NASDAQ:BANR)

Banner (NASDAQ:BANR)‘s stock had its “neutral” rating reiterated by equities research analysts at DA Davidson in a note issued to investors on Monday,Benzinga reports. They currently have a $72.00 target price on the financial services provider’s stock. DA Davidson’s price target would indicate a potential upside of 10.50% from the company’s previous close.

A number of other analysts have also recently weighed in on BANR. Weiss Ratings upgraded Banner from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Piper Sandler increased their price target 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 upgraded Banner from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Banner presently has a consensus rating of “Hold” and a consensus price target of $70.75.

Banner Stock Performance

Shares of Banner stock traded down $0.71 on Monday, reaching $65.16. 82,652 shares of the company were exchanged, compared to its average volume of 298,524. 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 company’s 50-day moving average is $61.87 and its two-hundred day moving average is $62.88. The firm has a market cap of $2.21 billion, a price-to-earnings ratio of 10.97 and a beta of 0.85. Banner has a 1-year low of $57.05 and a 1-year high of $69.83.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. The business had revenue of $168.91 million for the quarter, compared to analysts’ expectations of $169.60 million. Banner had a return on equity of 10.77% and a net margin of 23.24%. As a group, research analysts expect that Banner will post 6.23 earnings per share for the current fiscal year.

Institutional Trading of Banner

Several large investors have recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its position in Banner by 7,034.0% in the 1st quarter. Fifth Third Bancorp now owns 10,273 shares of the financial services provider’s stock valued at $623,000 after acquiring an additional 10,129 shares during the period. Sovran Advisors LLC increased its position in Banner by 12.9% in the 1st quarter. Sovran Advisors LLC now owns 19,623 shares of the financial services provider’s stock valued at $1,313,000 after acquiring an additional 2,241 shares during the period. Hsbc Holdings PLC increased its position in shares of Banner by 100.2% during the 1st quarter. Hsbc Holdings PLC now owns 28,708 shares of the financial services provider’s stock valued at $1,743,000 after purchasing an additional 14,367 shares during the period. Kiley Juergens Wealth Management LLC acquired a new position in shares of Banner during the 1st quarter valued at $287,000. Finally, Y Intercept Hong Kong Ltd increased its position in shares of Banner by 54.1% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 54,839 shares of the financial services provider’s stock valued at $3,328,000 after purchasing an additional 19,254 shares during the period. 87.33% of the stock is currently 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.