Banner Corporation (NASDAQ:BANR) Receives $70.83 Average Price Target from Analysts

Shares of Banner Corporation (NASDAQ:BANR - Get Free Report) have received an average recommendation of "Moderate Buy" from the six research firms that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $70.83.

A number of research analysts have issued reports on BANR shares. Janney Montgomery Scott upgraded shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 target price on the stock in a research report on Monday, April 21st. Keefe, Bruyette & Woods decreased their target price on shares of Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Stephens restated an "overweight" rating and set a $73.00 target price on shares of Banner in a research report on Monday, April 21st. Wall Street Zen lowered shares of Banner from a "hold" rating to a "sell" rating in a research report on Thursday, May 29th. Finally, Raymond James Financial restated an "outperform" rating and set a $65.00 target price (down previously from $77.00) on shares of Banner in a research report on Monday, April 21st.

Banner Stock Performance

BANR traded down $0.35 on Wednesday, reaching $61.85. The company had a trading volume of 554,481 shares, compared to its average volume of 215,936. Banner has a fifty-two week low of $46.40 and a fifty-two week high of $78.05. The stock has a market cap of $2.14 billion, a P/E ratio of 12.15 and a beta of 0.90. The company's fifty day moving average is $62.12 and its 200 day moving average is $65.20. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.85 and a current ratio of 0.86.

Banner (NASDAQ:BANR - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.23 by $0.06. Banner had a net margin of 20.77% and a return on equity of 9.95%. The firm had revenue of $159.88 million for the quarter, compared to analyst estimates of $159.72 million. During the same quarter in the prior year, the business posted $1.22 EPS. As a group, analysts predict that Banner will post 5.23 earnings per share for the current fiscal year.

Banner Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 9th. Stockholders of record on Tuesday, April 29th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date was Tuesday, April 29th. Banner's dividend payout ratio (DPR) is presently 37.72%.

Institutional Trading of Banner

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Voya Investment Management LLC lifted its stake in Banner by 39.1% in the 1st quarter. Voya Investment Management LLC now owns 39,477 shares of the financial services provider's stock valued at $2,517,000 after purchasing an additional 11,089 shares during the last quarter. Intech Investment Management LLC lifted its stake in Banner by 48.9% in the 1st quarter. Intech Investment Management LLC now owns 24,505 shares of the financial services provider's stock valued at $1,563,000 after purchasing an additional 8,050 shares during the last quarter. Focus Partners Wealth lifted its stake in Banner by 173.9% in the 1st quarter. Focus Partners Wealth now owns 70,242 shares of the financial services provider's stock valued at $4,479,000 after purchasing an additional 44,597 shares during the last quarter. Jane Street Group LLC lifted its stake in Banner by 582.8% in the 1st quarter. Jane Street Group LLC now owns 40,982 shares of the financial services provider's stock valued at $2,613,000 after purchasing an additional 34,980 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Banner by 5.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,471 shares of the financial services provider's stock valued at $7,427,000 after purchasing an additional 6,059 shares during the last quarter. Institutional investors own 87.33% of the company's stock.

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.