Equities Analysts Set Expectations for Banner Co.’s FY2024 Earnings (NASDAQ:BANR)

Banner Co. (NASDAQ:BANR) – Research analysts at DA Davidson upped their FY2024 earnings per share (EPS) estimates for Banner in a research report issued on Monday, July 22nd. DA Davidson analyst J. Rulis now forecasts that the financial services provider will post earnings per share of $4.60 for the year, up from their previous forecast of $4.40. DA Davidson currently has a “Neutral” rating and a $47.00 price target on the stock. The consensus estimate for Banner’s current full-year earnings is $4.75 per share.

BANR has been the topic of several other research reports. Stephens reiterated an “overweight” rating and set a $53.00 price target on shares of Banner in a research report on Thursday, July 18th. Piper Sandler increased their price objective on Banner from $51.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, July 19th. StockNews.com cut shares of Banner from a “hold” rating to a “sell” rating in a report on Saturday, June 8th. Finally, Janney Montgomery Scott cut shares of Banner from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.00.

Banner Price Performance

Shares of Banner stock opened at $60.07 on Wednesday. The company has a market cap of $2.07 billion, a PE ratio of 12.49 and a beta of 1.06. The business has a 50 day moving average of $49.27 and a 200 day moving average of $47.27. Banner has a 52 week low of $39.31 and a 52 week high of $61.34. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.43.

Hedge Funds Weigh In On Banner

Institutional investors and hedge funds have recently modified their holdings of the company. TFO Wealth Partners LLC grew its stake in shares of Banner by 35,800.0% during the 4th quarter. TFO Wealth Partners LLC now owns 718 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 716 shares during the period. EntryPoint Capital LLC boosted its stake in shares of Banner by 100.9% during the 1st quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock worth $53,000 after acquiring an additional 558 shares during the last quarter. CWM LLC increased its stake in shares of Banner by 49.9% in the 4th quarter. CWM LLC now owns 1,135 shares of the financial services provider’s stock worth $61,000 after purchasing an additional 378 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in Banner by 19.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,535 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 245 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Banner during the first quarter valued at $202,000. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Banner Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.20%. The ex-dividend date is Tuesday, August 6th. Banner’s dividend payout ratio is currently 39.92%.

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.