Banner (NASDAQ:BANR) Price Target Raised to $76.00 at DA Davidson

Banner (NASDAQ:BANR) had its price objective raised by DA Davidson from $72.00 to $76.00 in a research note released on Monday morning, Marketbeat Ratings reports. DA Davidson currently has a neutral rating on the financial services provider’s stock.

Other research analysts also recently issued research reports about the company. Wall Street Zen downgraded Banner from a “hold” rating to a “sell” rating in a report on Saturday. Weiss Ratings upgraded Banner from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Keefe, Bruyette & Woods lifted their price objective on Banner from $73.00 to $75.00 and gave the stock a “market perform” rating in a research report on Monday, May 18th. Piper Sandler boosted their target price on Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. Finally, Benchmark began coverage on Banner in a research note on Wednesday, July 8th. They set a “hold” rating on the stock. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Banner has an average rating of “Hold” and a consensus price target of $72.75.

Banner Price Performance

BANR stock opened at $70.23 on Monday. The firm’s 50-day moving average price is $66.76 and its two-hundred day moving average price is $64.23. Banner has a 12-month low of $57.05 and a 12-month high of $72.65. The stock has a market capitalization of $2.39 billion, a price-to-earnings ratio of 11.59 and a beta of 0.83. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, July 22nd. The financial services provider reported $1.44 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.02). The firm had revenue of $172.11 million for the quarter, compared to the consensus estimate of $174.54 million. Banner had a net margin of 23.55% and a return on equity of 10.72%. As a group, equities analysts predict that Banner will post 6.17 earnings per share for the current year.

Banner Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Tuesday, August 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.0%. Banner’s payout ratio is presently 34.32%.

Hedge Funds Weigh In On Banner

A number of institutional investors have recently bought and sold shares of the stock. Kemnay Advisory Services Inc. purchased a new stake in Banner in the fourth quarter worth about $31,000. Financial Life Planners bought a new stake in Banner during the 1st quarter valued at approximately $30,000. Aquatic Capital Management LLC bought a new stake in Banner during the 3rd quarter valued at approximately $36,000. EverSource Wealth Advisors LLC purchased a new position in shares of Banner during the 2nd quarter worth approximately $45,000. Finally, Versant Capital Management Inc grew its holdings in shares of Banner by 31.5% during the 2nd quarter. Versant Capital Management Inc now owns 714 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 171 shares during the period. 87.33% of the stock is owned by 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.