Research Analysts Set Expectations for Banner Co.’s Q2 2024 Earnings (NASDAQ:BANR)

Banner Co. (NASDAQ:BANR) – Analysts at DA Davidson issued their Q2 2024 EPS estimates for shares of Banner in a research report issued to clients and investors on Monday, April 22nd. DA Davidson analyst J. Rulis forecasts that the financial services provider will post earnings of $1.13 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $47.00 price target on the stock. The consensus estimate for Banner’s current full-year earnings is $4.61 per share. DA Davidson also issued estimates for Banner’s FY2024 earnings at $4.40 EPS and FY2025 earnings at $4.55 EPS.

Several other research firms have also commented on BANR. Raymond James boosted their price objective on shares of Banner from $47.00 to $51.00 and gave the stock an “outperform” rating in a research report on Monday, January 22nd. Stephens reduced their target price on shares of Banner from $54.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Keefe, Bruyette & Woods reduced their target price on shares of Banner from $58.00 to $54.00 and set a “market perform” rating on the stock in a report on Monday, January 22nd. Finally, Piper Sandler reduced their target price on shares of Banner from $54.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.20.

Banner Price Performance

Banner stock opened at $46.15 on Tuesday. Banner has a 52 week low of $39.31 and a 52 week high of $55.66. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.24. The firm’s 50-day simple moving average is $45.46 and its 200 day simple moving average is $46.55. The firm has a market capitalization of $1.59 billion, a PE ratio of 9.59 and a beta of 1.03.

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Tuesday, April 30th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.16%. The ex-dividend date of this dividend is Monday, April 29th. Banner’s dividend payout ratio is currently 39.92%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Nisa Investment Advisors LLC increased its stake in shares of Banner by 19.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,535 shares of the financial services provider’s stock valued at $82,000 after acquiring an additional 245 shares during the last quarter. Diversified Trust Co increased its position in Banner by 4.2% during the 3rd quarter. Diversified Trust Co now owns 8,649 shares of the financial services provider’s stock worth $367,000 after purchasing an additional 352 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in Banner by 4.7% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 8,322 shares of the financial services provider’s stock worth $353,000 after purchasing an additional 373 shares in the last quarter. CWM LLC increased its position in Banner by 49.9% during the 4th quarter. CWM LLC now owns 1,135 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 378 shares in the last quarter. Finally, Comerica Bank increased its position in Banner by 2.2% during the 4th quarter. Comerica Bank now owns 18,004 shares of the financial services provider’s stock worth $964,000 after purchasing an additional 380 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.

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.