Stephens Trims Banner (NASDAQ:BANR) Target Price to $53.00

Banner (NASDAQ:BANR) had its price objective decreased by Stephens from $54.00 to $53.00 in a research note published on Friday morning, Benzinga reports. Stephens currently has an overweight rating on the financial services provider’s stock.

A number of other analysts have also recently weighed in on BANR. Raymond James raised 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. Keefe, Bruyette & Woods reduced their target price on shares of Banner from $58.00 to $54.00 and set a market perform rating for the company in a report on Monday, January 22nd. Three research analysts have rated the stock with a hold rating and three have issued 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 $51.20.

Banner Price Performance

NASDAQ BANR opened at $45.22 on Friday. Banner has a 12 month low of $39.31 and a 12 month high of $55.66. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.82. The firm has a market capitalization of $1.55 billion, a PE ratio of 9.40 and a beta of 1.03. The company’s 50 day simple moving average is $45.36 and its 200 day simple moving average is $46.54.

Banner Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 10th. Investors of record on Tuesday, April 30th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.25%. The ex-dividend date is Monday, April 29th. Banner’s dividend payout ratio is 39.92%.

Institutional Investors Weigh In On Banner

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BANR. Victory Capital Management Inc. lifted its position in Banner by 247.2% in the 4th quarter. Victory Capital Management Inc. now owns 641,701 shares of the financial services provider’s stock worth $34,370,000 after buying an additional 456,868 shares in the last quarter. Norges Bank purchased a new stake in Banner in the 4th quarter worth approximately $12,097,000. Hsbc Holdings PLC lifted its position in Banner by 2,700.2% in the 4th quarter. Hsbc Holdings PLC now owns 221,243 shares of the financial services provider’s stock worth $11,861,000 after buying an additional 213,342 shares in the last quarter. Channing Capital Management LLC bought a new position in shares of Banner during the 4th quarter valued at $8,293,000. Finally, The Manufacturers Life Insurance Company raised its holdings in shares of Banner by 9.3% during the 4th quarter. The Manufacturers Life Insurance Company now owns 820,511 shares of the financial services provider’s stock valued at $43,947,000 after purchasing an additional 70,143 shares in the last quarter. Hedge funds and other institutional investors 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.