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Banner (NASDAQ:BANR) Given New $72.00 Price Target at DA Davidson

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Banner (NASDAQ:BANR - Get Free Report) had its price target boosted by equities researchers at DA Davidson from $67.00 to $72.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the financial services provider's stock. DA Davidson's price target indicates a potential upside of 8.75% from the company's previous close.

Other analysts also recently issued reports about the company. Keefe, Bruyette & Woods reduced their price objective on Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a research report on Monday, April 21st. Wall Street Zen downgraded Banner from a "hold" rating to a "sell" rating in a report on Thursday, May 29th. Stephens restated an "overweight" rating and issued a $73.00 price target on shares of Banner in a report on Monday, April 21st. Raymond James Financial reissued an "outperform" rating and issued a $65.00 price objective (down from $77.00) on shares of Banner in a research report on Monday, April 21st. Finally, Janney Montgomery Scott raised 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. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Banner presently has an average rating of "Hold" and an average target price of $70.17.

Read Our Latest Stock Analysis on BANR

Banner Price Performance

NASDAQ:BANR traded down $1.01 during trading hours on Friday, hitting $66.21. The company's stock had a trading volume of 22,001 shares, compared to its average volume of 217,549. Banner has a 52-week low of $51.14 and a 52-week high of $78.05. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.85 and a current ratio of 0.86. The business's 50-day moving average is $64.18 and its two-hundred day moving average is $64.84. The company has a market capitalization of $2.29 billion, a PE ratio of 12.61 and a beta of 0.89.

Banner (NASDAQ:BANR - Get Free Report) last released its quarterly earnings results on Wednesday, July 16th. The financial services provider reported $1.35 earnings per share for the quarter, topping analysts' consensus estimates of $1.32 by $0.03. The business had revenue of $162.98 million for the quarter, compared to analysts' expectations of $167.96 million. Banner had a return on equity of 10.15% and a net margin of 21.15%. As a group, research analysts anticipate that Banner will post 5.23 EPS for the current fiscal year.

Institutional Investors Weigh In On Banner

A number of large investors have recently added to or reduced their stakes in the stock. Sterling Capital Management LLC grew its position in shares of Banner by 816.9% in the fourth quarter. Sterling Capital Management LLC now owns 1,082 shares of the financial services provider's stock valued at $72,000 after purchasing an additional 964 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new position in Banner in the 4th quarter worth approximately $274,000. Principal Financial Group Inc. increased its position in Banner by 2.7% in the 1st quarter. Principal Financial Group Inc. now owns 171,592 shares of the financial services provider's stock worth $10,942,000 after buying an additional 4,503 shares during the period. Invesco Ltd. lifted its holdings in shares of Banner by 2.0% during the fourth quarter. Invesco Ltd. now owns 134,060 shares of the financial services provider's stock worth $8,951,000 after buying an additional 2,637 shares during the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Banner in the first quarter valued at approximately $352,000. Institutional investors own 87.33% of the company's stock.

About Banner

(Get Free Report)

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.

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Analyst Recommendations for Banner (NASDAQ:BANR)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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