Brokerages Set Banner Corporation (NASDAQ:BANR) Price Target at $71.17

Shares of Banner Corporation (NASDAQ:BANR) have been assigned a consensus rating of “Moderate Buy” from the seven brokerages that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $71.1667.

Several equities analysts have commented on BANR shares. Piper Sandler reissued a “neutral” rating and issued a $70.00 target price on shares of Banner in a report on Monday, December 1st. Wall Street Zen raised shares of Banner from a “sell” rating to a “hold” rating in a report on Saturday, February 28th. Finally, Weiss Ratings upgraded shares of Banner from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 9th.

Hedge Funds Weigh In On Banner

Several large investors have recently modified their holdings of BANR. Royal Bank of Canada lifted its holdings in Banner by 1.0% in the fourth quarter. Royal Bank of Canada now owns 17,519 shares of the financial services provider’s stock valued at $1,097,000 after buying an additional 167 shares during the period. Harbor Capital Advisors Inc. increased its stake in Banner by 1.3% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 13,291 shares of the financial services provider’s stock valued at $871,000 after purchasing an additional 171 shares in the last quarter. First Trust Advisors LP raised its holdings in shares of Banner by 0.4% in the 3rd quarter. First Trust Advisors LP now owns 41,634 shares of the financial services provider’s stock worth $2,727,000 after acquiring an additional 175 shares during the last quarter. US Bancorp DE raised its stake in shares of Banner by 8.9% in the third quarter. US Bancorp DE now owns 2,154 shares of the financial services provider’s stock worth $141,000 after purchasing an additional 176 shares during the last quarter. Finally, Arizona State Retirement System boosted its holdings in Banner by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 10,240 shares of the financial services provider’s stock worth $671,000 after acquiring an additional 177 shares during the last quarter. Institutional investors own 87.33% of the company’s stock.

Banner Trading Down 0.7%

Shares of BANR stock opened at $58.07 on Friday. The firm has a 50 day moving average price of $62.17 and a two-hundred day moving average price of $63.27. 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 market capitalization of $1.98 billion, a PE ratio of 10.30 and a beta of 0.89. Banner has a 12-month low of $54.01 and a 12-month high of $69.83.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, January 21st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $173.23 million. As a group, analysts predict that Banner will post 5.23 earnings per share for the current year.

Banner Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Tuesday, February 3rd were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, February 3rd. This represents a $2.00 annualized dividend and a dividend yield of 3.4%. Banner’s dividend payout ratio (DPR) is 35.46%.

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.