Brokerages Set Banner Corporation (NASDAQ:BANR) PT at $72.75

Shares of Banner Corporation (NASDAQ:BANR) have received a consensus rating of “Hold” from the six analysts that are currently covering the firm, Marketbeat reports. Four analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $72.75.

Several research firms have weighed in on BANR. Wall Street Zen lowered Banner from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Benchmark began coverage on Banner in a report on Wednesday, July 8th. They issued a “hold” rating for the company. Weiss Ratings raised shares of Banner from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. DA Davidson boosted their target price on shares of Banner from $72.00 to $76.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Finally, Piper Sandler upped their price target on shares of Banner from $63.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, April 27th.

Institutional Investors Weigh In On Banner

A number of institutional investors and hedge funds have recently modified their holdings of the company. Royal Bank of Canada raised its position in shares of Banner by 1.0% during the fourth quarter. Royal Bank of Canada now owns 17,519 shares of the financial services provider’s stock worth $1,097,000 after acquiring an additional 167 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Banner by 31.5% in the second quarter. Versant Capital Management Inc now owns 714 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 171 shares during the period. First Trust Advisors LP boosted its holdings in Banner by 0.4% in the third quarter. First Trust Advisors LP now owns 41,634 shares of the financial services provider’s stock valued at $2,727,000 after acquiring an additional 175 shares during the last quarter. US Bancorp DE grew its holdings in Banner by 8.9% during the 3rd quarter. US Bancorp DE now owns 2,154 shares of the financial services provider’s stock worth $141,000 after acquiring an additional 176 shares during the period. Finally, ProShare Advisors LLC grew its holdings in Banner by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 6,628 shares of the financial services provider’s stock worth $415,000 after acquiring an additional 197 shares during the period. 87.33% of the stock is owned by institutional investors.

Banner Price Performance

Banner stock opened at $71.14 on Monday. The company has a market cap of $2.42 billion, a P/E ratio of 11.74 and a beta of 0.83. The company has a fifty day simple moving average of $69.30 and a 200 day simple moving average of $65.30. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. Banner has a 1-year low of $57.05 and a 1-year high of $74.84.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02). Banner had a net margin of 23.55% and a return on equity of 10.72%. The company had revenue of $172.11 million during the quarter, compared to analyst estimates of $174.54 million. Research analysts anticipate that Banner will post 6.2 earnings per share for the current fiscal year.

Banner Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date of this dividend was Tuesday, August 4th. Banner’s dividend payout ratio (DPR) is 34.32%.

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.