Piper Sandler Has Lowered Expectations for Banner (NASDAQ:BANR) Stock Price

Banner (NASDAQ:BANR) had its price target cut by stock analysts at Piper Sandler from $67.00 to $63.00 in a note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. Piper Sandler’s target price points to a potential upside of 2.27% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Wall Street Zen raised Banner from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Weiss Ratings upgraded Banner from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, March 9th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.00.

Banner Stock Performance

NASDAQ BANR opened at $61.60 on Thursday. The firm has a 50-day moving average price of $61.37 and a two-hundred day moving average price of $62.88. Banner has a 12-month low of $54.01 and a 12-month high of $69.83. The company has a market capitalization of $2.10 billion, a P/E ratio of 10.92 and a beta of 0.85. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, January 21st. The financial services provider reported $1.55 EPS for the quarter, topping the consensus estimate of $1.46 by $0.09. Banner had a net margin of 22.26% and a return on equity of 10.46%. The company had revenue of $169.90 million for the quarter, compared to analysts’ expectations of $173.23 million. Analysts anticipate that Banner will post 5.23 earnings per share for the current year.

Institutional Investors Weigh In On Banner

Large investors have recently modified their holdings of the business. Financial Life Planners acquired a new position in shares of Banner during the 3rd quarter worth $32,000. Kemnay Advisory Services Inc. acquired a new stake in Banner in the fourth quarter valued at about $31,000. Aquatic Capital Management LLC bought a new position in Banner in the third quarter valued at about $36,000. EverSource Wealth Advisors LLC acquired a new position in Banner during the second quarter worth about $45,000. Finally, Lodestone Wealth Management LLC acquired a new position in Banner during the fourth quarter worth about $66,000. Institutional investors and hedge funds own 87.33% of the company’s stock.

About Banner

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.