Banner Corporation (NASDAQ:BANR) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Banner Corporation (NASDAQ:BANR) have been given an average rating of “Hold” by the seven analysts that are covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $71.1667.

A number of research firms have commented on BANR. Weiss Ratings restated a “hold (c+)” rating on shares of Banner in a research report on Wednesday, January 21st. Wall Street Zen upgraded shares of Banner from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Keefe, Bruyette & Woods boosted their target price on Banner from $73.00 to $74.00 and gave the stock a “market perform” rating in a report on Friday, October 17th. DA Davidson cut their target price on Banner from $73.00 to $69.00 and set a “neutral” rating for the company in a research report on Friday, October 17th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $70.00 price target on shares of Banner in a research note on Monday, December 1st.

Banner Stock Down 0.7%

BANR opened at $60.88 on Thursday. Banner has a 12 month low of $54.01 and a 12 month high of $72.04. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. The stock has a market cap of $2.08 billion, a P/E ratio of 10.79 and a beta of 0.91. The stock’s 50 day moving average price is $64.30 and its 200 day moving average price is $64.18.

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

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 13th. Investors of record on Tuesday, February 3rd will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Tuesday, February 3rd. This represents a $2.00 annualized dividend and a yield of 3.3%. Banner’s dividend payout ratio is currently 35.46%.

Institutional Investors Weigh In On Banner

Several hedge funds have recently modified their holdings of BANR. Deprince Race & Zollo Inc. bought a new stake in Banner in the 3rd quarter valued at $16,500,000. The Manufacturers Life Insurance Company raised its stake in shares of Banner by 19.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,347 shares of the financial services provider’s stock valued at $64,878,000 after purchasing an additional 165,557 shares during the period. Two Sigma Investments LP lifted its holdings in shares of Banner by 307.8% in the third quarter. Two Sigma Investments LP now owns 173,742 shares of the financial services provider’s stock valued at $11,380,000 after purchasing an additional 131,140 shares in the last quarter. Raymond James Financial Inc. boosted its position in shares of Banner by 50.9% during the third quarter. Raymond James Financial Inc. now owns 295,621 shares of the financial services provider’s stock worth $19,363,000 after buying an additional 99,708 shares during the period. Finally, Millennium Management LLC grew its holdings in shares of Banner by 33.2% during the third quarter. Millennium Management LLC now owns 340,215 shares of the financial services provider’s stock worth $22,284,000 after buying an additional 84,805 shares in the last quarter. 87.33% of the stock is owned by hedge funds and other institutional investors.

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.