Banner (NASDAQ:BANR) Reaches New 1-Year High - Should You Buy?

Key Points

• Banner shares reached a new 52-week high of $72.79, with the stock recently trading around $72.80. Despite the rally, analysts maintain a consensus “Hold” rating with an average price target of $72.75.
• Banner’s latest quarterly results fell slightly short of expectations, reporting $1.44 EPS versus the $1.46 consensus and revenue of $172.11 million versus estimates of $174.54 million.
• The company declared a quarterly dividend of $0.52 per share, equivalent to $2.08 annually and a 2.9% yield; institutional investors own 87.33% of the stock.

Banner Corporation (NASDAQ:BANR - Get Free Report)'s stock price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $72.79 and last traded at $72.80, with a volume of 123599 shares changing hands. The stock had previously closed at $71.41.

Analyst Upgrades and Downgrades

Several research firms have issued reports on BANR. Benchmark began coverage on shares of Banner in a research note on Wednesday, July 8th. They set a "hold" rating on the stock. Wall Street Zen downgraded shares of Banner from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Piper Sandler raised their target price on shares of Banner from $63.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. Weiss Ratings upgraded Banner from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, June 18th. Finally, Keefe, Bruyette & Woods increased their price target on Banner from $75.00 to $78.00 and gave the stock a "market perform" rating in a research note on Monday, July 27th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Banner has a consensus rating of "Hold" and an average target price of $72.75.

Banner Stock Performance

The stock's 50 day moving average price is $67.96 and its 200 day moving average price is $64.67. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 12.02 and a beta of 0.83.

Banner (NASDAQ:BANR - Get Free Report) last released its earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.02). Banner had a return on equity of 10.72% and a net margin of 23.55%.The company had revenue of $172.11 million during the quarter, compared to analyst estimates of $174.54 million. On average, analysts expect that Banner Corporation will post 6.2 EPS for the current fiscal year.

Banner Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 14th. Shareholders of record on Tuesday, August 4th will be issued a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.9%. The ex-dividend date is Tuesday, August 4th. Banner's dividend payout ratio (DPR) is 34.32%.

Institutional Trading of Banner

Several institutional investors have recently made changes to their positions in BANR. UBS Group AG boosted its holdings in Banner by 241.2% in the fourth quarter. UBS Group AG now owns 454,807 shares of the financial services provider's stock valued at $28,498,000 after acquiring an additional 321,522 shares during the last quarter. Vanguard Group Inc. increased its stake in Banner by 1.2% during the fourth quarter. Vanguard Group Inc. now owns 3,837,199 shares of the financial services provider's stock worth $240,439,000 after acquiring an additional 44,249 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Banner by 100.2% in the 1st quarter. Hsbc Holdings PLC now owns 28,708 shares of the financial services provider's stock worth $1,743,000 after purchasing an additional 14,367 shares during the period. Entropy Technologies LP raised its holdings in shares of Banner by 400.6% in the 1st quarter. Entropy Technologies LP now owns 23,054 shares of the financial services provider's stock worth $1,399,000 after purchasing an additional 18,449 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its stake in shares of Banner by 93.8% in the 4th quarter. Deprince Race & Zollo Inc. now owns 488,295 shares of the financial services provider's stock valued at $30,597,000 after purchasing an additional 236,394 shares in the last quarter. 87.33% of the stock is owned by hedge funds and other institutional investors.

About Banner

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.

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