Raymond James Reiterates Outperform Rating for Banner (NASDAQ:BANR)

Banner (NASDAQ:BANR - Get Free Report)'s stock had its "outperform" rating restated by analysts at Raymond James in a research note issued on Monday,Benzinga reports. They presently have a $65.00 target price on the financial services provider's stock, down from their prior target price of $77.00. Raymond James' price target suggests a potential upside of 5.66% from the company's previous close.

Several other research analysts also recently commented on the stock. Keefe, Bruyette & Woods dropped their target price on shares of Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a report on Monday, April 21st. DA Davidson lifted their price objective on Banner from $73.00 to $76.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Janney Montgomery Scott upgraded Banner from a "neutral" rating to a "buy" rating and set a $71.00 target price for the company in a research note on Monday, April 21st. Finally, Stephens reaffirmed an "overweight" rating and issued a $82.00 price target on shares of Banner in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Banner has a consensus rating of "Hold" and a consensus price target of $70.83.

Banner Stock Down 1.2 %

Shares of NASDAQ:BANR traded down $0.74 on Monday, reaching $61.52. The company had a trading volume of 171,250 shares, compared to its average volume of 212,696. The stock has a market capitalization of $2.12 billion, a P/E ratio of 12.61 and a beta of 0.94. The stock has a 50-day moving average price of $62.99 and a 200 day moving average price of $67.12. Banner has a twelve month low of $43.63 and a twelve month high of $78.05. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32.

Banner (NASDAQ:BANR - Get Free Report) last posted its earnings results on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.23 by $0.06. Banner had a return on equity of 10.03% and a net margin of 20.28%. The firm had revenue of $159.88 million during the quarter, compared to analyst estimates of $159.72 million. During the same period in the previous year, the company earned $1.22 EPS. On average, equities analysts expect that Banner will post 5.23 EPS for the current year.

Institutional Trading of Banner

A number of institutional investors and hedge funds have recently modified their holdings of the company. William Blair Investment Management LLC boosted its stake in Banner by 10,213.3% during the fourth quarter. William Blair Investment Management LLC now owns 634,579 shares of the financial services provider's stock worth $42,371,000 after buying an additional 628,426 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Banner by 28.1% during the 4th quarter. Victory Capital Management Inc. now owns 1,701,653 shares of the financial services provider's stock valued at $113,619,000 after acquiring an additional 373,037 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Banner during the 4th quarter valued at about $10,023,000. Fisher Asset Management LLC increased its stake in Banner by 40.5% in the fourth quarter. Fisher Asset Management LLC now owns 398,166 shares of the financial services provider's stock valued at $26,586,000 after acquiring an additional 114,731 shares during the period. Finally, Norges Bank acquired a new position in Banner in the fourth quarter worth about $6,075,000. 87.33% of the stock is currently owned by institutional investors.

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.