Banner (NASDAQ:BANR) PT Lowered to $51.00

Banner (NASDAQ:BANR) had its target price decreased by Piper Sandler from $54.00 to $51.00 in a report released on Friday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

BANR has been the subject of several other reports. Raymond James lifted their price target on Banner from $47.00 to $51.00 and gave the company an outperform rating in a research report on Monday, January 22nd. DA Davidson dropped their price objective on Banner from $50.00 to $47.00 and set a neutral rating on the stock in a report on Friday. Keefe, Bruyette & Woods dropped their price objective on Banner from $58.00 to $54.00 and set a market perform rating on the stock in a report on Monday, January 22nd. Finally, Stephens dropped their price objective on Banner from $54.00 to $53.00 and set an overweight rating on the stock in a report on Friday. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $51.20.

Banner Trading Up 0.6 %

Shares of NASDAQ:BANR opened at $45.22 on Friday. The business has a 50-day moving average price of $45.36 and a 200-day moving average price of $46.54. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.24. The stock has a market cap of $1.55 billion, a price-to-earnings ratio of 9.40 and a beta of 1.03. Banner has a 52-week low of $39.31 and a 52-week high of $55.66.

Banner Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Tuesday, April 30th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date of this dividend is Monday, April 29th. Banner’s dividend payout ratio is presently 39.92%.

Hedge Funds Weigh In On Banner

A number of institutional investors have recently added to or reduced their stakes in BANR. Victory Capital Management Inc. lifted its position in Banner by 247.2% during the fourth quarter. Victory Capital Management Inc. now owns 641,701 shares of the financial services provider’s stock worth $34,370,000 after buying an additional 456,868 shares in the last quarter. Norges Bank purchased a new position in Banner during the fourth quarter worth approximately $12,097,000. Hsbc Holdings PLC lifted its position in Banner by 2,700.2% during the fourth quarter. Hsbc Holdings PLC now owns 221,243 shares of the financial services provider’s stock worth $11,861,000 after buying an additional 213,342 shares in the last quarter. Channing Capital Management LLC purchased a new position in Banner during the fourth quarter worth approximately $8,293,000. Finally, The Manufacturers Life Insurance Company lifted its position in Banner by 9.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 820,511 shares of the financial services provider’s stock worth $43,947,000 after buying an additional 70,143 shares in the last quarter. Hedge funds and other institutional investors own 87.33% of the company’s stock.

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.