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

Banner (NASDAQ:BANR) had its price target dropped by analysts at Stephens from $54.00 to $53.00 in a note issued to investors on Friday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Stephens’ target price would indicate a potential upside of 19.32% from the company’s previous close.

Several other equities research analysts have also weighed in on the stock. Keefe, Bruyette & Woods dropped their price objective on shares of Banner from $58.00 to $54.00 and set a “market perform” rating on the stock in a research note on Monday, January 22nd. Raymond James increased their price objective on shares of Banner from $47.00 to $51.00 and gave the stock 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 assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $54.25.

Banner Stock Up 1.6 %

Shares of Banner stock traded up $0.69 during trading on Friday, reaching $44.42. The company had a trading volume of 19,037 shares, compared to its average volume of 195,278. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 9.21 and a beta of 1.03. The firm’s fifty day moving average is $45.35 and its 200-day moving average is $46.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.83 and a current ratio of 0.83. Banner has a fifty-two week low of $39.31 and a fifty-two week high of $55.66.

Banner (NASDAQ:BANR) last issued its earnings results on Thursday, January 18th. The financial services provider reported $1.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $152.46 million for the quarter, compared to analyst estimates of $155.54 million. Banner had a net margin of 21.62% and a return on equity of 11.64%. On average, analysts anticipate that Banner will post 4.64 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its position 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 last quarter. Diversified Trust Co boosted its holdings in shares of Banner by 3.9% in the first quarter. Diversified Trust Co now owns 9,906 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 371 shares in the last quarter. Hennessy Advisors Inc. boosted its holdings in shares of Banner by 58.3% in the first quarter. Hennessy Advisors Inc. now owns 57,000 shares of the financial services provider’s stock valued at $2,736,000 after acquiring an additional 21,000 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Banner by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,187,837 shares of the financial services provider’s stock valued at $224,301,000 after acquiring an additional 40,988 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Banner by 2.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 700,254 shares of the financial services provider’s stock valued at $37,506,000 after acquiring an additional 20,041 shares in the last quarter. Institutional investors own 87.33% of the company’s stock.

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.