Banner (NASDAQ:BANR) Given New $78.00 Price Target at Stephens

Key Points

• Stephens raised Banner’s price target from $77 to $78 and maintained an “overweight” rating, implying approximately 11% upside from the stock’s current price.
• Analyst sentiment remains mixed: Banner has an average “Hold” rating and a consensus price target of $75.75, with recent ratings ranging from “Sell” to “Buy.”
• Banner reported quarterly EPS of $1.51, exceeding the $1.41 consensus estimate, although revenue of $179.07 million fell short of the $184.24 million forecast.

Banner (NASDAQ:BANR - Get Free Report) had its price objective hoisted by analysts at Stephens from $77.00 to $78.00 in a report released on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the financial services provider's stock. Stephens's price objective would suggest a potential upside of 10.98% from the company's current price.

Other equities research analysts also recently issued reports about the stock. Benchmark assumed coverage on shares of Banner in a research note on Wednesday, July 8th. They issued a "hold" rating for the company. DA Davidson raised their target price on Banner from $74.00 to $76.00 and gave the company a "neutral" rating in a research note on Friday. Keefe, Bruyette & Woods raised their target price on Banner from $75.00 to $78.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Wall Street Zen lowered Banner from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Banner in a research note on Monday, September 14th. Two research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $75.75.

Banner Price Performance

Shares of NASDAQ BANR opened at $70.28 on Monday. The company has a market capitalization of $2.39 billion, a PE ratio of 11.95 and a beta of 0.83. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.09. Banner has a twelve month low of $57.05 and a twelve month high of $74.84. The firm has a fifty day simple moving average of $69.37 and a 200 day simple moving average of $67.75.

Banner (NASDAQ:BANR - Get Free Report) last announced its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $1.51 EPS for the quarter, topping the consensus estimate of $1.41 by $0.10. The company had revenue of $179.07 million during the quarter, compared to the consensus estimate of $184.24 million. Banner had a net margin of 22.81% and a return on equity of 10.44%. On average, sell-side analysts forecast that Banner will post 6.12 EPS for the current year.

Institutional Investors Weigh In On Banner

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp bought a new stake in shares of Banner in the 2nd quarter valued at approximately $20,508,000. North Reef Capital Management LP acquired a new position in Banner in the first quarter worth approximately $11,860,000. Bank of America Corp DE raised its position in Banner by 25.4% during the first quarter. Bank of America Corp DE now owns 171,439 shares of the financial services provider's stock valued at $10,403,000 after acquiring an additional 34,679 shares in the last quarter. First Trust Advisors LP raised its position in Banner by 71.9% during the first quarter. First Trust Advisors LP now owns 69,297 shares of the financial services provider's stock valued at $4,205,000 after acquiring an additional 28,987 shares in the last quarter. Finally, SG Americas Securities LLC raised its position in Banner by 114.6% during the first quarter. SG Americas Securities LLC now owns 48,508 shares of the financial services provider's stock valued at $2,943,000 after acquiring an additional 25,903 shares in the last quarter. Hedge funds and other institutional investors own 87.33% of the company's stock.

Banner Company Profile

Banner Corporation NASDAQ: BANR is a bank holding company headquartered in Walla Walla, Washington. Through its principal subsidiary, Banner Bank, the company provides banking and financial services to individuals, families, businesses and communities in the Pacific Northwest.

Banner Bank offers deposit products, residential and commercial real estate lending, construction and land development loans, commercial and industrial financing, agricultural loans, consumer loans and home equity products.

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