Banner (NASDAQ:BANR) Given New $51.00 Price Target at Piper Sandler

Banner (NASDAQ:BANR) had its price objective cut by analysts at Piper Sandler from $54.00 to $51.00 in a research note issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 14.43% from the stock’s previous close.

Several other brokerages also recently commented on BANR. Stephens dropped their target price on shares of Banner from $54.00 to $53.00 and set an “overweight” rating on the stock in a report on Friday. DA Davidson dropped their target price on shares of Banner from $50.00 to $47.00 and set a “neutral” rating on the stock in a report on Friday. Raymond James lifted their target price on shares of Banner from $47.00 to $51.00 and gave the stock an “outperform” rating in a report on Monday, January 22nd. Finally, Keefe, Bruyette & Woods decreased their price target on shares of Banner from $58.00 to $54.00 and set a “market perform” rating on the stock in a research report on Monday, January 22nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, Banner has an average rating of “Moderate Buy” and an average target price of $51.20.

Banner Stock Up 1.9 %

Shares of Banner stock traded up $0.84 during midday trading on Friday, reaching $44.57. 124,100 shares of the company’s stock traded hands, compared to its average volume of 196,528. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 9.25 and a beta of 1.03. The company’s 50 day simple moving average is $45.35 and its 200 day simple moving average is $46.43. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.83 and a current ratio of 0.83. Banner has a 52 week low of $39.31 and a 52 week high of $55.66.

Banner (NASDAQ:BANR) last released its quarterly earnings results on Thursday, January 18th. The financial services provider reported $1.34 earnings per share for the quarter, beating analysts’ consensus estimates of $1.31 by $0.03. The business had revenue of $152.46 million for the quarter, compared to the consensus estimate of $155.54 million. Banner had a net margin of 21.62% and a return on equity of 11.64%. Equities analysts expect that Banner will post 4.64 earnings per share for the current fiscal year.

Institutional Trading of Banner

Institutional investors have recently made changes to their positions in the business. Carmel Capital Partners LLC acquired a new stake in shares of Banner during the 3rd quarter valued at about $25,000. Lazard Asset Management LLC acquired a new position in Banner in the second quarter valued at about $27,000. Eagle Bay Advisors LLC boosted its position in Banner by 126.7% in the second quarter. Eagle Bay Advisors LLC now owns 501 shares of the financial services provider’s stock valued at $28,000 after buying an additional 280 shares in the last quarter. CWM LLC boosted its position 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 buying an additional 683 shares in the last quarter. Finally, Exchange Traded Concepts LLC acquired a new position in Banner in the third quarter valued at about $34,000. 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.