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 report report published on Friday, Benzinga reports. The brokerage currently has an overweight rating on the financial services provider’s stock.

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

Banner Trading Up 2.8 %

Shares of BANR opened at $44.94 on Friday. Banner has a 1 year low of $39.31 and a 1 year 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 has a 50 day simple moving average of $45.36 and a 200-day simple moving average of $46.46. The stock has a market cap of $1.54 billion, a PE ratio of 9.34 and a beta of 1.03.

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, topping analysts’ consensus estimates of $1.31 by $0.03. Banner had a return on equity of 11.47% and a net margin of 21.62%. The business had revenue of $152.46 million during the quarter, compared to analysts’ expectations of $155.54 million. On average, sell-side analysts predict that Banner will post 4.64 EPS for the current fiscal year.

Banner Announces Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BANR. Numerai GP LLC boosted its position in shares of Banner by 131.1% in the 3rd quarter. Numerai GP LLC now owns 98,819 shares of the financial services provider’s stock worth $4,188,000 after purchasing an additional 56,067 shares during the last quarter. Illinois Municipal Retirement Fund bought a new position in shares of Banner in the 3rd quarter worth $836,000. Vanguard Group Inc. boosted its position in shares of Banner by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,146,849 shares of the financial services provider’s stock worth $175,743,000 after purchasing an additional 36,850 shares during the last quarter. Victory Capital Management Inc. boosted its position in shares of Banner by 950.6% in the 3rd quarter. Victory Capital Management Inc. now owns 184,833 shares of the financial services provider’s stock worth $7,833,000 after purchasing an additional 167,240 shares during the last quarter. Finally, Federated Hermes Inc. bought a new position in shares of Banner in the 3rd quarter worth $45,000. 87.33% of the stock is currently 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.