Banner (NASDAQ:BANR) Downgraded to “Sell” Rating by Wall Street Zen

Banner (NASDAQ:BANR) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other research firms have also recently issued reports on BANR. Piper Sandler reissued a “neutral” rating and issued a $70.00 price objective on shares of Banner in a research report on Monday, December 1st. Weiss Ratings restated a “hold (c+)” rating on shares of Banner in a research note on Wednesday, January 21st. Raymond James Financial reaffirmed an “outperform” rating and issued a $70.00 price target (down from $72.00) on shares of Banner in a report on Friday, October 17th. DA Davidson decreased their price objective on shares of Banner from $73.00 to $69.00 and set a “neutral” rating for the company in a research report on Friday, October 17th. Finally, Keefe, Bruyette & Woods lifted 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, October 17th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $71.17.

Banner Stock Up 0.2%

NASDAQ BANR opened at $61.84 on Friday. Banner has a 52 week low of $54.01 and a 52 week high of $71.75. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The company has a fifty day moving average of $64.31 and a two-hundred day moving average of $64.11. The firm has a market capitalization of $2.11 billion, a price-to-earnings ratio of 10.96 and a beta of 0.91.

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

Hedge Funds Weigh In On Banner

A number of hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in Banner by 1.2% in the 4th quarter. Vanguard Group Inc. now owns 3,837,199 shares of the financial services provider’s stock valued at $240,439,000 after purchasing an additional 44,249 shares during the last quarter. Westwood Holdings Group Inc. lifted its position in Banner by 3.2% during the second quarter. Westwood Holdings Group Inc. now owns 1,179,927 shares of the financial services provider’s stock worth $75,692,000 after buying an additional 36,940 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in Banner by 19.6% during the second quarter. The Manufacturers Life Insurance Company now owns 1,011,347 shares of the financial services provider’s stock worth $64,878,000 after buying an additional 165,557 shares during the last quarter. Geode Capital Management LLC boosted its stake in Banner by 0.5% during the second quarter. Geode Capital Management LLC now owns 866,906 shares of the financial services provider’s stock worth $55,619,000 after buying an additional 3,921 shares during the last quarter. Finally, William Blair Investment Management LLC grew its holdings in Banner by 13.5% in the 3rd quarter. William Blair Investment Management LLC now owns 709,665 shares of the financial services provider’s stock valued at $46,483,000 after buying an additional 84,283 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.

Banner Company Profile

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.