Banner (NASDAQ:BANR) PT Lowered to $47.00

Banner (NASDAQ:BANR) had its target price trimmed by DA Davidson from $50.00 to $47.00 in a research report sent to investors on Friday morning, Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock.

BANR has been the subject of several other reports. Stephens cut their target price on Banner from $54.00 to $53.00 and set an overweight rating for the company in a research note on Friday. Keefe, Bruyette & Woods cut their target price on Banner from $58.00 to $54.00 and set a market perform rating for the company in a research note on Monday, January 22nd. Finally, Raymond James upped their price target on shares of Banner from $47.00 to $51.00 and gave the stock an outperform rating in a report on Monday, January 22nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $51.20.

Banner Stock Up 0.6 %

NASDAQ BANR opened at $45.22 on Friday. The business has a fifty day moving average price of $45.36 and a two-hundred day moving average price of $46.54. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.82. Banner has a fifty-two week low of $39.31 and a fifty-two week high of $55.66. The stock has a market capitalization of $1.55 billion, a PE ratio of 9.40 and a beta of 1.03.

Banner Dividend Announcement

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. CWM LLC increased its holdings in Banner by 923.0% in the third quarter. CWM LLC now owns 757 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 683 shares during the period. SG Americas Securities LLC acquired a new stake in Banner in the third quarter valued at $690,000. Ziegler Capital Management LLC increased its holdings in Banner by 0.9% in the third quarter. Ziegler Capital Management LLC now owns 186,958 shares of the financial services provider’s stock valued at $7,923,000 after purchasing an additional 1,735 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Banner in the third quarter valued at $34,000. Finally, Hennessy Advisors Inc. increased its holdings in Banner by 33.3% in the third quarter. Hennessy Advisors Inc. now owns 20,000 shares of the financial services provider’s stock valued at $848,000 after purchasing an additional 5,000 shares during the period. 87.33% of the stock is currently owned by institutional investors and hedge funds.

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.