DA Davidson Lowers Banner (NASDAQ:BANR) Price Target to $47.00

Banner (NASDAQ:BANR) had its price target trimmed by DA Davidson from $50.00 to $47.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

A number of other equities research analysts also recently issued reports on BANR. Stephens reduced their price objective on shares of Banner from $54.00 to $53.00 and set an overweight rating for the company in a research report on Friday. Raymond James upped their price objective on shares of Banner from $47.00 to $51.00 and gave the stock an outperform rating in a research report on Monday, January 22nd. Finally, Keefe, Bruyette & Woods reduced their price objective on shares of Banner from $58.00 to $54.00 and set a market perform rating for the company in a research report on Monday, January 22nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Banner has a consensus rating of Moderate Buy and a consensus price target of $51.20.

Banner Trading Up 2.8 %

BANR opened at $44.94 on Friday. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.83. Banner has a fifty-two week low of $39.31 and a fifty-two week high of $55.66. The firm has a market capitalization of $1.54 billion, a PE ratio of 9.34 and a beta of 1.03. The company’s 50-day moving average is $45.36 and its 200 day moving average is $46.46.

Banner (NASDAQ:BANR) last posted its earnings results on Thursday, January 18th. The financial services provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. Banner had a net margin of 21.62% and a return on equity of 11.47%. The company had revenue of $152.46 million for the quarter, compared to analyst estimates of $155.54 million. As a group, research analysts predict that Banner will post 4.64 earnings per share for the current fiscal year.

Banner Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.27%. The ex-dividend date of this dividend is Monday, April 29th. Banner’s dividend payout ratio is currently 39.92%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BANR. Raymond James & Associates grew its position in shares of Banner by 4.4% during the 1st quarter. Raymond James & Associates now owns 23,587 shares of the financial services provider’s stock valued at $1,381,000 after acquiring an additional 984 shares during the period. Citigroup Inc. boosted its holdings in Banner by 9.9% in the 1st quarter. Citigroup Inc. now owns 30,752 shares of the financial services provider’s stock worth $1,799,000 after buying an additional 2,768 shares during the period. Bank of Montreal Can boosted its holdings in Banner by 2.3% in the 1st quarter. Bank of Montreal Can now owns 11,310 shares of the financial services provider’s stock worth $697,000 after buying an additional 254 shares during the period. MetLife Investment Management LLC boosted its holdings in Banner by 55.6% in the 1st quarter. MetLife Investment Management LLC now owns 18,699 shares of the financial services provider’s stock worth $1,094,000 after buying an additional 6,682 shares during the period. Finally, Rhumbline Advisers lifted its stake in Banner by 0.5% in the 1st quarter. Rhumbline Advisers now owns 96,156 shares of the financial services provider’s stock worth $5,628,000 after purchasing an additional 460 shares in the last quarter. 87.33% of the stock is owned by institutional investors.

About Banner

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.