Piper Sandler Lowers Banner (NASDAQ:BANR) Price Target to $51.00

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

Other analysts have also issued research reports about the stock. Stephens cut their target price on shares of Banner from $54.00 to $53.00 and set an overweight rating on the stock in a research report on Friday. Raymond James lifted their target price 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. DA Davidson lowered their target price on shares of Banner from $50.00 to $47.00 and set a neutral rating for the company in a research note on Friday. Finally, Keefe, Bruyette & Woods lowered their target price on shares of Banner from $58.00 to $54.00 and set a market perform rating for the company in a research note on Monday, January 22nd. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Banner presently has an average rating of Moderate Buy and a consensus price target of $51.20.

Banner Stock Performance

NASDAQ BANR opened at $45.22 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.55 billion, a price-to-earnings ratio of 9.40 and a beta of 1.03. The firm’s 50 day simple moving average is $45.36 and its 200 day simple moving average is $46.54. Banner has a 1 year low of $39.31 and a 1 year high of $55.66.

Banner Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, May 10th. Shareholders of record on Tuesday, April 30th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.25%. The ex-dividend date is Monday, April 29th. Banner’s dividend payout ratio (DPR) is currently 39.92%.

Institutional Investors Weigh In On Banner

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Carmel Capital Partners LLC bought a new stake in Banner in the third quarter valued at $25,000. TFO Wealth Partners LLC grew its holdings in shares of Banner by 35,800.0% during the fourth quarter. TFO Wealth Partners LLC now owns 718 shares of the financial services provider’s stock valued at $38,000 after buying an additional 716 shares during the last quarter. CWM LLC grew its holdings in shares of Banner by 923.0% during the third quarter. CWM LLC now owns 757 shares of the financial services provider’s stock valued at $32,000 after buying an additional 683 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in shares of Banner during the third quarter valued at about $34,000. Finally, Federated Hermes Inc. acquired a new position in shares of Banner during the third quarter valued at about $45,000. 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.