Banner (NASDAQ:BANR) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Banner (NASDAQ:BANR) had its target price hoisted by equities research analysts at Keefe, Bruyette & Woods from $73.00 to $74.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target suggests a potential upside of 19.84% from the company’s previous close.

Several other analysts also recently issued reports on the company. Wall Street Zen downgraded Banner from a “hold” rating to a “sell” rating in a report on Saturday, August 9th. DA Davidson increased their price target on Banner from $67.00 to $72.00 and gave the company a “neutral” rating in a report on Friday, July 18th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Banner in a report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $71.40.

Banner Trading Down 1.1%

BANR stock opened at $61.75 on Friday. The company has a market cap of $2.14 billion, a price-to-earnings ratio of 11.25 and a beta of 0.91. The company has a quick ratio of 0.88, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. The business has a fifty day simple moving average of $65.23 and a 200-day simple moving average of $63.71. Banner has a 52 week low of $54.01 and a 52 week high of $78.05.

Banner (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, October 15th. The financial services provider reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.11. Banner had a return on equity of 10.32% and a net margin of 21.80%.The business had revenue of $168.75 million during the quarter, compared to the consensus estimate of $171.52 million. On average, equities research analysts expect that Banner will post 5.23 EPS for the current year.

Hedge Funds Weigh In On Banner

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BANR. EverSource Wealth Advisors LLC purchased a new position in Banner in the 2nd quarter valued at about $45,000. GAMMA Investing LLC boosted its position in Banner by 53.9% in the 1st quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider’s stock valued at $48,000 after buying an additional 264 shares during the last quarter. Quarry LP boosted its position in Banner by 4,612.0% in the 1st quarter. Quarry LP now owns 1,178 shares of the financial services provider’s stock valued at $75,000 after buying an additional 1,153 shares during the last quarter. AlphaQuest LLC purchased a new position in Banner in the 2nd quarter valued at about $99,000. Finally, CWM LLC boosted its position in Banner by 21.9% in the 3rd quarter. CWM LLC now owns 1,619 shares of the financial services provider’s stock valued at $106,000 after buying an additional 291 shares during the last quarter. 87.33% of the stock is owned by hedge funds and other institutional investors.

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.