Analysts Set Banner Corporation (NASDAQ:BANR) Target Price at $71.00

Banner Corporation (NASDAQ:BANR) has received an average recommendation of “Hold” from the six analysts that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $72.75.

A number of research firms have issued reports on BANR. Keefe, Bruyette & Woods boosted their target price on shares of Banner from $75.00 to $78.00 and gave the company a “market perform” rating in a research note on Monday. Weiss Ratings upgraded shares of Banner from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Piper Sandler lifted their price target on Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, April 27th. DA Davidson boosted their price objective on Banner from $72.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday. Finally, Benchmark started coverage on Banner in a report on Wednesday, July 8th. They issued a “hold” rating for the company.

Banner Stock Performance

BANR stock opened at $69.96 on Thursday. Banner has a 1 year low of $57.05 and a 1 year high of $72.65. The stock has a market capitalization of $2.38 billion, a price-to-earnings ratio of 11.54 and a beta of 0.83. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88. The stock’s fifty day moving average is $67.00 and its two-hundred day moving average is $64.31.

Banner (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 EPS for the quarter, missing the consensus estimate 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. On average, research analysts predict that Banner will post 6.2 EPS for the current year.

Banner Dividend Announcement

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

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. UBS Group AG lifted its holdings in Banner by 241.2% in the fourth quarter. UBS Group AG now owns 454,807 shares of the financial services provider’s stock worth $28,498,000 after purchasing an additional 321,522 shares during the period. Deprince Race & Zollo Inc. increased its stake in Banner by 93.8% during the 4th quarter. Deprince Race & Zollo Inc. now owns 488,295 shares of the financial services provider’s stock valued at $30,597,000 after buying an additional 236,394 shares during the period. North Reef Capital Management LP bought a new stake in shares of Banner during the 1st quarter worth about $11,860,000. The Manufacturers Life Insurance Company raised its position in shares of Banner by 19.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,011,347 shares of the financial services provider’s stock worth $64,878,000 after buying an additional 165,557 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Banner by 60.7% in the 4th quarter. Goldman Sachs Group Inc. now owns 366,689 shares of the financial services provider’s stock worth $22,977,000 after acquiring an additional 138,525 shares during the period. 87.33% of the stock is owned by institutional investors and hedge funds.

Banner Company Profile

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.