DA Davidson Comments on Banner Co.’s Q2 2024 Earnings (NASDAQ:BANR)

Banner Co. (NASDAQ:BANR) – Equities researchers at DA Davidson issued their Q2 2024 earnings estimates for shares of Banner in a report issued on Monday, April 22nd. DA Davidson analyst J. Rulis forecasts that the financial services provider will earn $1.13 per share for the quarter. DA Davidson has a “Neutral” rating and a $47.00 price objective on the stock. The consensus estimate for Banner’s current full-year earnings is $4.57 per share. DA Davidson also issued estimates for Banner’s FY2024 earnings at $4.40 EPS and FY2025 earnings at $4.55 EPS.

BANR has been the topic of a number of other reports. Raymond James lifted their target price on Banner from $47.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Piper Sandler decreased their target price on Banner from $54.00 to $51.00 and set an “overweight” rating for the company in a research report on Friday, April 19th. Keefe, Bruyette & Woods dropped their price target on shares of Banner from $58.00 to $54.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Finally, Stephens cut their price objective on shares of Banner from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Friday, April 19th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.20.

Banner Price Performance

Shares of BANR opened at $46.05 on Tuesday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.82. Banner has a 12 month low of $39.31 and a 12 month high of $55.66. The stock has a fifty day moving average price of $45.41 and a 200 day moving average price of $46.56. The company has a market cap of $1.58 billion, a P/E ratio of 9.57 and a beta of 1.03.

Hedge Funds Weigh In On Banner

Large investors have recently bought and sold shares of the business. Carmel Capital Partners LLC bought a new position in shares of Banner during the third quarter worth $25,000. TFO Wealth Partners LLC increased its holdings in shares of Banner by 35,800.0% in the fourth quarter. TFO Wealth Partners LLC now owns 718 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 716 shares during the last quarter. CWM LLC raised its holdings in Banner by 923.0% in the 3rd quarter. CWM LLC now owns 757 shares of the financial services provider’s stock valued at $32,000 after acquiring an additional 683 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Banner during the 3rd quarter worth approximately $34,000. Finally, Federated Hermes Inc. acquired a new stake in shares of Banner during the third quarter worth $45,000. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Banner Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.17%. Banner’s payout ratio is currently 39.92%.

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.