Banner (NASDAQ:BANR) PT Lowered to $47.00 at DA Davidson

Banner (NASDAQ:BANR) had its target price decreased by DA Davidson from $50.00 to $47.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s target price indicates a potential upside of 4.91% from the stock’s previous close.

A number of other research analysts have also issued reports on BANR. Keefe, Bruyette & Woods cut 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 note on Monday, January 22nd. Stephens cut their price target on shares of Banner from $54.00 to $53.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Raymond James upped their price target on shares of Banner from $47.00 to $51.00 and gave the company an “outperform” rating in a research note on Monday, January 22nd. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $52.80.

Banner Stock Up 2.4 %

NASDAQ:BANR traded up $1.07 during midday trading on Friday, reaching $44.80. 80,203 shares of the stock traded hands, compared to its average volume of 195,974. Banner has a 12-month low of $39.31 and a 12-month high of $55.66. The business has a 50-day moving average of $45.35 and a two-hundred day moving average of $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. The stock has a market capitalization of $1.54 billion, a PE ratio of 9.30 and a beta of 1.03.

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

Institutional Trading of Banner

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Allspring Global Investments Holdings LLC increased its stake in shares of Banner by 2.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 138,650 shares of the financial services provider’s stock worth $6,655,000 after acquiring an additional 2,882 shares during the period. Diversified Trust Co increased its stake in shares of Banner by 3.9% in the first quarter. Diversified Trust Co now owns 9,906 shares of the financial services provider’s stock worth $475,000 after acquiring an additional 371 shares during the period. Hennessy Advisors Inc. increased its stake in shares of Banner by 58.3% in the first quarter. Hennessy Advisors Inc. now owns 57,000 shares of the financial services provider’s stock worth $2,736,000 after acquiring an additional 21,000 shares during the period. Vanguard Group Inc. grew its position in Banner by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,187,837 shares of the financial services provider’s stock valued at $224,301,000 after buying an additional 40,988 shares during the period. Finally, Goldman Sachs Group Inc. grew its position in Banner by 2.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 700,254 shares of the financial services provider’s stock valued at $37,506,000 after buying an additional 20,041 shares during the period. Institutional investors and hedge funds own 87.33% of the company’s stock.

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.