Stephens Boosts Banner (NASDAQ:BANR) Price Target to $66.00

Banner (NASDAQ:BANRGet Rating) had its price target hoisted by Stephens from $64.00 to $66.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has an “equal weight” rating on the financial services provider’s stock. Stephens’ price objective indicates a potential upside of 16.65% from the company’s previous close.

A number of other equities analysts also recently commented on the company. Raymond James decreased their price target on Banner from $72.00 to $70.00 and set a “strong-buy” rating for the company in a research note on Friday. Zacks Investment Research upgraded Banner from a “hold” rating to a “buy” rating and set a $68.00 price target for the company in a research note on Monday, March 28th. Finally, StockNews.com started coverage on Banner in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $66.00.

NASDAQ:BANR opened at $56.58 on Monday. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of 9.91 and a beta of 1.05. Banner has a one year low of $49.10 and a one year high of $66.79. The stock has a 50-day simple moving average of $44.81 and a 200 day simple moving average of $38.91. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.79 and a current ratio of 0.78.

Banner (NASDAQ:BANRGet Rating) last posted its quarterly earnings results on Wednesday, April 20th. The financial services provider reported $1.27 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.17. Banner had a return on equity of 12.47% and a net margin of 32.46%. During the same period in the prior year, the business earned $1.33 earnings per share. On average, equities research analysts forecast that Banner will post 4.78 EPS for the current fiscal year.

In other Banner news, VP Kenneth William Johnson sold 2,900 shares of Banner stock in a transaction on Monday, March 14th. The stock was sold at an average price of $61.50, for a total transaction of $178,350.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director David I. Matson sold 1,738 shares of Banner stock in a transaction on Monday, January 31st. The shares were sold at an average price of $61.06, for a total value of $106,122.28. The disclosure for this sale can be found here. Company insiders own 1.37% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the business. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new stake in Banner during the 4th quarter valued at $14,494,000. Goldman Sachs Group Inc. raised its stake in Banner by 4.6% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,264,802 shares of the financial services provider’s stock valued at $76,736,000 after acquiring an additional 56,029 shares in the last quarter. Nuveen Asset Management LLC raised its stake in Banner by 10.0% during the 4th quarter. Nuveen Asset Management LLC now owns 879,853 shares of the financial services provider’s stock valued at $53,381,000 after acquiring an additional 80,055 shares in the last quarter. Saba Capital Management L.P. bought a new stake in Banner during the 4th quarter valued at $7,438,000. Finally, Marshall Wace LLP bought a new stake in shares of Banner in the 4th quarter worth $7,110,000. 83.75% of the stock is currently owned by hedge funds and other institutional investors.

Banner Company Profile (Get Rating)

Banner Corporation operates as the bank holding company for Banner Bank that provide 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.

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