Banner Corporation (NASDAQ:BANR) Receives $71.17 Average Price Target from Analysts

Shares of Banner Corporation (NASDAQ:BANR) have received an average recommendation of “Hold” from the seven ratings firms that are covering the company, MarketBeat reports. Four investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $71.1667.

A number of brokerages have recently weighed in on BANR. Wall Street Zen downgraded Banner from a “hold” rating to a “sell” rating in a report on Saturday, January 31st. Piper Sandler reaffirmed a “neutral” rating and issued a $70.00 target price on shares of Banner in a research report on Monday, December 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Banner in a research note on Wednesday, January 21st. Raymond James Financial reissued an “outperform” rating and issued a $70.00 price objective (down previously from $72.00) on shares of Banner in a research note on Friday, October 17th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Banner from $73.00 to $74.00 and gave the stock a “market perform” rating in a research note on Friday, October 17th.

Banner Price Performance

NASDAQ:BANR opened at $64.08 on Thursday. Banner has a 52 week low of $54.01 and a 52 week high of $71.75. The stock’s fifty day moving average is $64.31 and its two-hundred day moving average is $64.03. The company has a market capitalization of $2.18 billion, a P/E ratio of 11.36 and a beta of 0.90. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17.

Banner (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, January 21st. The financial services provider reported $1.55 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.09. The business had revenue of $169.90 million during the quarter, compared to analysts’ expectations of $173.23 million. Banner had a return on equity of 10.46% and a net margin of 22.26%. Equities analysts expect that Banner will post 5.23 EPS for the current year.

Banner Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 13th. Stockholders of record on Tuesday, February 3rd will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 3.1%. The ex-dividend date is Tuesday, February 3rd. Banner’s dividend payout ratio (DPR) is presently 35.46%.

Institutional Investors Weigh In On Banner

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC boosted its position in shares of Banner by 26.3% during the 2nd quarter. GAMMA Investing LLC now owns 952 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 198 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new stake in Banner during the third quarter worth approximately $16,500,000. Edgestream Partners L.P. lifted its stake in Banner by 86.8% during the second quarter. Edgestream Partners L.P. now owns 59,947 shares of the financial services provider’s stock worth $3,846,000 after purchasing an additional 27,863 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Banner by 7.6% in the second quarter. Public Employees Retirement System of Ohio now owns 42,085 shares of the financial services provider’s stock valued at $2,700,000 after purchasing an additional 2,959 shares in the last quarter. Finally, CSM Advisors LLC purchased a new position in Banner in the second quarter valued at approximately $423,000. Hedge funds and other institutional investors own 87.33% of the company’s stock.

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.