Banner (NASDAQ:BANR) Given New $76.00 Price Target at DA Davidson

Banner (NASDAQ:BANR) had its target price upped by DA Davidson from $74.00 to $76.00 in a note issued to investors on Friday, Benzinga reports. The firm presently has a “neutral” rating on the financial services provider’s stock. DA Davidson‘s target price would suggest a potential upside of 8.14% from the company’s previous close.

Several other research firms have also weighed in on BANR. Benchmark initiated coverage on Banner in a research note on Wednesday, July 8th. They issued a “hold” rating on the stock. Keefe, Bruyette & Woods raised their target price on Banner from $75.00 to $78.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Banner in a report on Monday, September 14th. Piper Sandler dropped their price target on shares of Banner from $74.00 to $71.00 and set a “neutral” rating on the stock in a research report on Thursday, October 1st. Finally, Wall Street Zen cut Banner from a “hold” rating to a “sell” rating in a report on Saturday, July 25th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, Banner presently has a consensus rating of “Hold” and a consensus target price of $75.00.

Banner Stock Up 0.3%

Banner stock traded up $0.18 during trading on Friday, reaching $70.28. The stock had a trading volume of 359,896 shares, compared to its average volume of 300,374. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. Banner has a 52-week low of $57.05 and a 52-week high of $74.84. The stock has a market cap of $2.39 billion, a PE ratio of 11.60 and a beta of 0.83. The business has a 50 day moving average price of $69.44 and a 200 day moving average price of $67.69.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.10. The company had revenue of $179.07 million during the quarter, compared to the consensus estimate of $184.24 million. Banner had a net margin of 22.81% and a return on equity of 10.65%. On average, analysts predict that Banner will post 6.15 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Nykredit A S bought a new position in shares of Banner during the 2nd quarter valued at approximately $28,000. Financial Life Planners bought a new position in shares of Banner in the first quarter valued at approximately $30,000. Public Employees Retirement System of Ohio purchased a new position in shares of Banner during the 2nd quarter valued at $36,000. Versant Capital Management Inc increased its stake in Banner by 31.5% in the 2nd quarter. Versant Capital Management Inc now owns 714 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 171 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of Banner by 342.4% in the second quarter. Allworth Financial LP now owns 845 shares of the financial services provider’s stock worth $56,000 after purchasing an additional 654 shares during the last quarter. 87.33% of the stock is owned by institutional investors.

About Banner

Banner Corporation (NASDAQ: BANR) is a bank holding company headquartered in Walla Walla, Washington. Through its principal subsidiary, Banner Bank, the company provides banking and financial services to individuals, families, businesses and communities in the Pacific Northwest.

Banner Bank offers deposit products, residential and commercial real estate lending, construction and land development loans, commercial and industrial financing, agricultural loans, consumer loans and home equity products.