Banner (NASDAQ:BANR) Price Target Raised to $78.00

Banner (NASDAQ:BANR) had its price target lifted by Keefe, Bruyette & Woods from $75.00 to $78.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a market perform rating on the financial services provider’s stock.

BANR has been the subject of a number of other research reports. Piper Sandler boosted their price objective on Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, April 27th. Benchmark assumed coverage on Banner in a research report on Wednesday, July 8th. They issued a “hold” rating on the stock. DA Davidson raised their target price on Banner from $72.00 to $76.00 and gave the company a “neutral” rating in a research note on Monday. Wall Street Zen downgraded shares of Banner from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. Finally, Weiss Ratings upgraded shares of Banner from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Two research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $72.75.

Banner Trading Down 0.8%

BANR opened at $69.96 on Monday. Banner has a 12-month low of $57.05 and a 12-month high of $72.65. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.88 and a quick ratio of 0.88. The stock has a market capitalization of $2.38 billion, a PE ratio of 11.54 and a beta of 0.83. The firm’s fifty day moving average price is $67.00 and its 200 day moving average price is $64.31.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 EPS for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02). Banner had a return on equity of 10.72% and a net margin of 23.55%.The firm had revenue of $172.11 million for the quarter, compared to the consensus estimate of $174.54 million. As a group, research analysts expect that Banner will post 6.2 EPS for the current fiscal year.

Banner Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 14th. Investors of record on Tuesday, August 4th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 3.0%. The ex-dividend date of this dividend is Tuesday, August 4th. Banner’s dividend payout ratio is 34.32%.

Institutional Trading of Banner

Several hedge funds have recently added to or reduced their stakes in the business. Financial Life Planners acquired a new position in Banner during the 1st quarter worth $30,000. Kemnay Advisory Services Inc. acquired a new position in shares of Banner during the fourth quarter valued at $31,000. Aquatic Capital Management LLC acquired a new position in shares of Banner during the third quarter valued at $36,000. EverSource Wealth Advisors LLC bought a new stake in shares of Banner during the second quarter valued at about $45,000. Finally, Versant Capital Management Inc raised its stake in shares of Banner by 31.5% during the second quarter. Versant Capital Management Inc now owns 714 shares of the financial services provider’s stock valued at $47,000 after purchasing an additional 171 shares in the last quarter. Institutional investors own 87.33% of the company’s stock.

About Banner

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.