Banner (NASDAQ:BANR) PT Lowered to $47.00 at DA Davidson

Banner (NASDAQ:BANR) had its price objective lowered by stock analysts at DA Davidson from $50.00 to $47.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price target indicates a potential upside of 4.91% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on the company. Raymond James upped their target price on Banner from $47.00 to $51.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods reduced their price objective on Banner from $58.00 to $54.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Finally, Stephens reduced their price objective on Banner from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Friday. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $52.80.

Banner Stock Performance

Banner stock traded up $1.07 during trading hours on Friday, reaching $44.80. 80,203 shares of the company were exchanged, compared to its average volume of 195,974. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of 9.30 and a beta of 1.03. 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 stock has a 50-day moving average of $45.35 and a 200 day moving average of $46.43. Banner has a 12 month low of $39.31 and a 12 month high of $55.66.

Banner (NASDAQ:BANR) last announced its 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 during the quarter, compared to analysts’ expectations of $155.54 million. Banner had a return on equity of 11.64% and a net margin of 21.62%. As a group, research analysts anticipate that Banner will post 4.64 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC raised its stake in shares of Banner by 2.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 138,650 shares of the financial services provider’s stock valued at $6,655,000 after purchasing an additional 2,882 shares in the last quarter. Diversified Trust Co raised its stake in shares of Banner by 3.9% in the first quarter. Diversified Trust Co now owns 9,906 shares of the financial services provider’s stock valued at $475,000 after purchasing an additional 371 shares in the last quarter. Hennessy Advisors Inc. raised its stake in shares of Banner by 58.3% in the first quarter. Hennessy Advisors Inc. now owns 57,000 shares of the financial services provider’s stock valued at $2,736,000 after purchasing an additional 21,000 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Banner by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,187,837 shares of the financial services provider’s stock valued at $224,301,000 after purchasing an additional 40,988 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Banner by 2.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 700,254 shares of the financial services provider’s stock valued at $37,506,000 after purchasing an additional 20,041 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

About Banner

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.