Banner (NASDAQ:BANR) Given New $47.00 Price Target at DA Davidson

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

Other analysts also recently issued research reports about the company. Keefe, Bruyette & Woods dropped their price target on Banner from $58.00 to $54.00 and set a market perform rating on the stock in a research note on Monday, January 22nd. Stephens dropped their price target on Banner from $54.00 to $53.00 and set an overweight rating on the stock in a research note on Friday. Finally, 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. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Banner presently has an average rating of Moderate Buy and an average price target of $51.20.

Banner Stock Performance

Shares of Banner stock opened at $44.94 on Friday. The company has a market capitalization of $1.54 billion, a PE ratio of 9.34 and a beta of 1.03. Banner has a 12 month low of $39.31 and a 12 month high of $55.66. The company has a current ratio of 0.82, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The stock’s fifty day simple moving average is $45.36 and its 200 day simple moving average is $46.46.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Thursday, January 18th. The financial services provider reported $1.34 EPS for the quarter, topping the consensus estimate of $1.31 by $0.03. The business had revenue of $152.46 million for the quarter, compared to the consensus estimate of $155.54 million. Banner had a return on equity of 11.47% and a net margin of 21.62%. On average, research analysts predict that Banner will post 4.64 EPS for the current year.

Banner Announces Dividend

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

Hedge Funds Weigh In On Banner

Several hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its holdings in shares of 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 valued at $6,655,000 after acquiring an additional 2,882 shares in the last quarter. Diversified Trust Co grew its holdings in Banner by 3.9% during the first 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. grew its holdings in Banner by 58.3% during the first 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. grew its holdings in Banner by 1.0% during the fourth 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. grew its holdings in Banner by 2.9% during the fourth 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. 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.