Banner (NASDAQ:BANR) PT Raised to $69.00 at DA Davidson

Banner (NASDAQ:BANR) had its price target lifted by DA Davidson from $60.00 to $69.00 in a research note published on Friday, Marketbeat.com reports. DA Davidson currently has a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for Banner’s Q4 2024 earnings at $1.26 EPS and FY2025 earnings at $4.90 EPS.

A number of other research analysts have also recently commented on BANR. Janney Montgomery Scott cut Banner from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Stephens reissued an “overweight” rating and issued a $53.00 target price on shares of Banner in a research note on Thursday, July 18th. Piper Sandler increased their target price on Banner from $51.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Raymond James increased their target price on Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $61.60.

Banner Trading Down 3.1 %

Shares of BANR stock opened at $64.66 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 0.85. Banner has a 52-week low of $39.31 and a 52-week high of $68.11. The company has a market capitalization of $2.23 billion, a PE ratio of 13.44 and a beta of 1.05. The business’s fifty day moving average is $59.25 and its 200 day moving average is $52.53.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.18 by $0.12. The company had revenue of $213.90 million for the quarter, compared to the consensus estimate of $152.95 million. Banner had a return on equity of 10.89% and a net margin of 20.93%. During the same quarter last year, the business posted $1.43 earnings per share. On average, equities research analysts anticipate that Banner will post 4.71 EPS for the current fiscal year.

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be paid a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.97%. Banner’s dividend payout ratio (DPR) is currently 39.92%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Hennessy Advisors Inc. boosted its holdings in shares of Banner by 58.3% during the first quarter. Hennessy Advisors Inc. now owns 57,000 shares of the financial services provider’s stock worth $2,736,000 after purchasing an additional 21,000 shares during the period. Boston Partners purchased a new stake in shares of Banner during the first quarter worth about $1,025,000. Vanguard Group Inc. boosted its holdings in shares of Banner by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,187,837 shares of the financial services provider’s stock worth $224,301,000 after purchasing an additional 40,988 shares during the period. Westwood Holdings Group Inc. boosted its holdings in shares of Banner by 3.7% during the first quarter. Westwood Holdings Group Inc. now owns 717,058 shares of the financial services provider’s stock worth $34,419,000 after purchasing an additional 25,525 shares during the period. Finally, Entropy Technologies LP purchased a new stake in shares of Banner during the first quarter worth about $247,000. 87.33% of the stock is owned by institutional investors.

Banner Company Profile

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.