Raymond James Financial Reiterates Outperform Rating for Banner (NASDAQ:BANR)

Banner (NASDAQ:BANR)‘s stock had its “outperform” rating reaffirmed by stock analysts at Raymond James Financial in a research note issued to investors on Friday,Benzinga reports. They presently have a $70.00 target price on the financial services provider’s stock, down from their prior target price of $72.00. Raymond James Financial’s price objective would indicate a potential upside of 13.36% from the company’s previous close.

BANR has been the topic of a number of other research reports. Keefe, Bruyette & Woods increased their price target on Banner from $73.00 to $74.00 and gave the stock a “market perform” rating in a research report on Friday. Weiss Ratings reiterated a “buy (b-)” rating on shares of Banner in a research report on Wednesday, October 8th. DA Davidson increased their price target on Banner from $67.00 to $72.00 and gave the stock a “neutral” rating in a research report on Friday, July 18th. Finally, Wall Street Zen downgraded Banner from a “hold” rating to a “sell” rating in a research report on Saturday, August 9th. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.40.

Banner Stock Down 1.1%

Shares of BANR opened at $61.75 on Friday. Banner has a 52 week low of $54.01 and a 52 week high of $78.05. 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 company has a market capitalization of $2.14 billion, a price-to-earnings ratio of 11.25 and a beta of 0.91. The stock’s 50-day moving average price is $65.23 and its 200-day moving average price is $63.71.

Banner (NASDAQ:BANR) last issued its earnings results 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 firm had revenue of $168.75 million for the quarter, compared to the consensus estimate of $171.52 million. On average, sell-side analysts predict that Banner will post 5.23 EPS for the current year.

Hedge Funds Weigh In On Banner

Hedge funds and other institutional investors have recently made changes to their positions in the company. EverSource Wealth Advisors LLC purchased a new position in shares of Banner in the second quarter valued at approximately $45,000. GAMMA Investing LLC lifted its position in Banner by 53.9% during the first quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider’s stock worth $48,000 after buying an additional 264 shares in the last quarter. Quarry LP lifted its position in Banner by 4,612.0% during the first quarter. Quarry LP now owns 1,178 shares of the financial services provider’s stock worth $75,000 after buying an additional 1,153 shares in the last quarter. AlphaQuest LLC purchased a new position in Banner during the second quarter worth approximately $99,000. Finally, CWM LLC lifted its position in Banner by 21.9% during the third quarter. CWM LLC now owns 1,619 shares of the financial services provider’s stock worth $106,000 after buying an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 87.33% of the company’s stock.

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.