Banner (NASDAQ:BANR) Price Target Cut to $51.00

Banner (NASDAQ:BANR) had its price target lowered by analysts at Piper Sandler from $54.00 to $51.00 in a research report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target suggests a potential upside of 14.43% from the company’s current price.

A number of other research firms also recently issued reports on BANR. Raymond James boosted their target price on shares of Banner from $47.00 to $51.00 and gave the company an “outperform” rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods dropped their target price on shares of Banner from $58.00 to $54.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. DA Davidson decreased their price target on shares of Banner from $50.00 to $47.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Stephens decreased their price target on shares of Banner from $54.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $51.20.

Banner Trading Up 1.9 %

BANR traded up $0.84 during trading on Friday, reaching $44.57. 124,100 shares of the company’s stock were exchanged, compared to its average volume of 196,528. The stock has a market capitalization of $1.53 billion, a PE ratio of 9.25 and a beta of 1.03. Banner has a one year low of $39.31 and a one year high of $55.66. The company has a current ratio of 0.83, a quick ratio of 0.83 and a debt-to-equity ratio of 0.40. The firm has a fifty day moving average price of $45.35 and a two-hundred day moving average price of $46.43.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Thursday, January 18th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $152.46 million for the quarter, compared to the consensus estimate of $155.54 million. Banner had a net margin of 21.62% and a return on equity of 11.64%. As a group, equities research analysts forecast that Banner will post 4.64 earnings per share for the current fiscal year.

Institutional Trading of Banner

Institutional investors have recently made changes to their positions in the company. Numerai GP LLC grew its stake in shares of Banner by 131.1% in the 3rd quarter. Numerai GP LLC now owns 98,819 shares of the financial services provider’s stock worth $4,188,000 after acquiring an additional 56,067 shares in the last quarter. Illinois Municipal Retirement Fund bought a new position in Banner during the third quarter valued at about $836,000. Vanguard Group Inc. grew its position in Banner by 0.9% during the third quarter. Vanguard Group Inc. now owns 4,146,849 shares of the financial services provider’s stock valued at $175,743,000 after buying an additional 36,850 shares during the period. Victory Capital Management Inc. grew its position in Banner by 950.6% during the third quarter. Victory Capital Management Inc. now owns 184,833 shares of the financial services provider’s stock valued at $7,833,000 after buying an additional 167,240 shares during the period. Finally, Federated Hermes Inc. bought a new position in Banner during the third quarter valued at about $45,000. Institutional investors own 87.33% of the company’s stock.

Banner Company Profile

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans.