Stephens Cuts Banner (NASDAQ:BANR) Price Target to $53.00

Banner (NASDAQ:BANR) had its price target reduced by Stephens from $54.00 to $53.00 in a research report issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the financial services provider’s stock. Stephens’ target price indicates a potential upside of 19.32% from the stock’s current price.

Several other research firms have also weighed in on BANR. Keefe, Bruyette & Woods lowered their price objective on Banner from $58.00 to $54.00 and set a “market perform” rating for the company in a research report on Monday, January 22nd. Raymond James lifted their price target on Banner from $47.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.25.

Banner Price Performance

NASDAQ:BANR traded up $0.69 during trading hours on Friday, reaching $44.42. 19,037 shares of the company were exchanged, compared to its average volume of 195,278. The company has a market capitalization of $1.53 billion, a P/E ratio of 9.21 and a beta of 1.03. Banner has a 1-year low of $39.31 and a 1-year high of $55.66. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.83 and a quick ratio of 0.83. The business has a 50 day moving average of $45.35 and a 200 day moving average of $46.43.

Banner (NASDAQ:BANR) last released its quarterly earnings data on Thursday, January 18th. The financial services provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.31 by $0.03. Banner had a return on equity of 11.64% and a net margin of 21.62%. The company had revenue of $152.46 million for the quarter, compared to the consensus estimate of $155.54 million. Research analysts forecast that Banner will post 4.64 EPS for the current year.

Hedge Funds Weigh In On Banner

A number of large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its stake in Banner by 2.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 138,650 shares of the financial services provider’s stock worth $6,655,000 after purchasing an additional 2,882 shares during the period. Diversified Trust Co boosted its stake in Banner by 3.9% in the 1st quarter. Diversified Trust Co now owns 9,906 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 371 shares during the period. Hennessy Advisors Inc. boosted its stake in Banner by 58.3% in the 1st quarter. Hennessy Advisors Inc. now owns 57,000 shares of the financial services provider’s stock worth $2,736,000 after purchasing an additional 21,000 shares during the period. Vanguard Group Inc. boosted its stake in Banner by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,187,837 shares of the financial services provider’s stock worth $224,301,000 after purchasing an additional 40,988 shares during the period. Finally, Goldman Sachs Group Inc. boosted its stake in Banner by 2.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 700,254 shares of the financial services provider’s stock worth $37,506,000 after purchasing an additional 20,041 shares during the period. 87.33% of the stock is owned by institutional investors.

Banner Company Profile

Banner Corporation operates as the bank holding company for Banner Bank that engages in the provision of commercial banking and financial products and services to individuals, businesses, and public sector entities in the United States. It accepts various deposit instruments, including interest-bearing and non-interest-bearing checking accounts, money market deposit accounts, regular savings accounts, and certificates of deposit, as well as treasury management services and retirement savings plans.