DA Davidson Forecasts Strong Price Appreciation for Banner (NASDAQ:BANR) Stock

Key Points

• DA Davidson raised Banner’s price target from $74 to $76 while maintaining a “neutral” rating, implying approximately 8.14% upside from the stock’s $70.28 price.
• Analyst sentiment remains cautious: Banner has a consensus “Hold” rating from MarketBeat, with one Buy and four Hold ratings and an average price target of $75.
• Banner beat quarterly earnings expectations, reporting $1.51 in EPS versus the $1.41 consensus, although revenue of $179.07 million came in below the $184.24 million estimate.

Banner (NASDAQ:BANR - Get Free Report) had its price target upped by stock analysts at DA Davidson from $74.00 to $76.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. DA Davidson's price objective indicates a potential upside of 8.14% from the stock's current price.

Other analysts also recently issued research reports about the stock. Benchmark assumed coverage on shares of Banner in a report on Wednesday, July 8th. They set a "hold" rating on the stock. Piper Sandler reduced their price objective on Banner from $74.00 to $71.00 and set a "neutral" rating on the stock in a research note on Thursday, October 1st. Keefe, Bruyette & Woods increased their price target on shares of Banner from $75.00 to $78.00 and gave the stock a "market perform" rating in a research report on Monday, July 27th. Wall Street Zen downgraded Banner from a "hold" rating to a "sell" rating in a research report on Saturday, July 25th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Banner in a research report on Monday, September 14th. One investment analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $75.00.

Banner Trading Up 0.3%

Shares of BANR stock traded up $0.18 on Friday, hitting $70.28. The stock had a trading volume of 359,896 shares, compared to its average volume of 300,374. The firm has a market capitalization of $2.39 billion, a P/E ratio of 11.60 and a beta of 0.83. Banner has a 1 year low of $57.05 and a 1 year high of $74.84. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.88 and a quick ratio of 0.88. The company's 50 day moving average price is $69.44 and its 200-day moving average price is $67.69.

Banner (NASDAQ:BANR - Get Free Report) last released its quarterly earnings data on Wednesday, October 21st. The financial services provider reported $1.51 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.10. Banner had a return on equity of 10.65% and a net margin of 22.81%. The business had revenue of $179.07 million for the quarter, compared to the consensus estimate of $184.24 million. Analysts anticipate that Banner will post 6.15 earnings per share for the current year.

Institutional Investors Weigh In On Banner

Institutional investors have recently bought and sold shares of the stock. Versant Capital Management Inc raised 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 valued at $47,000 after acquiring an additional 171 shares during the last quarter. Nykredit A S acquired a new stake in Banner in the second quarter valued at $28,000. Financial Life Planners bought a new position in shares of Banner in the 1st quarter worth $30,000. KBC Group NV increased its position in shares of Banner by 55.0% during the 1st quarter. KBC Group NV now owns 1,528 shares of the financial services provider's stock valued at $93,000 after purchasing an additional 542 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of Banner in the second quarter valued at $36,000. Institutional investors and hedge funds own 87.33% of the company's stock.

About Banner

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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