Banner (NASDAQ:BANR) Reaches New 1-Year High - What's Next?

Key Points

• Banner shares reached a new 52-week high of $74.31, trading near $74 despite closing slightly lower at $74.01. The stock is up above its 50-day and 200-day moving averages.
• Analyst sentiment remains cautious, with an overall “Hold” rating and an average price target of $72.75. Recent targets range from $67 to $78, while one firm downgraded the stock to “Sell.”
• Banner reported quarterly EPS of $1.44, narrowly missing estimates, while revenue also fell short of expectations. The company maintains a quarterly dividend of $0.52 per share, representing a 2.8% yield.

Shares of Banner Corporation (NASDAQ:BANR - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $74.31 and last traded at $73.9950, with a volume of 246312 shares traded. The stock had previously closed at $74.01.

Wall Street Analyst Weigh In

Several research firms have issued reports on BANR. Wall Street Zen downgraded Banner from a "hold" rating to a "sell" rating in a research note on Saturday, July 25th. Weiss Ratings upgraded Banner from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, June 18th. Keefe, Bruyette & Woods lifted their target price on Banner from $75.00 to $78.00 and gave the company a "market perform" rating in a research report on Monday, July 27th. DA Davidson upped their price target on Banner from $72.00 to $76.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Finally, Piper Sandler lifted their price objective on shares of Banner from $63.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, April 27th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $72.75.

Banner Stock Down 0.5%

The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. The firm has a 50 day simple moving average of $68.71 and a 200-day simple moving average of $64.94. The stock has a market cap of $2.50 billion, a P/E ratio of 12.21 and a beta of 0.83.

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

Banner Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Stockholders of record on Tuesday, August 4th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 2.8%. The ex-dividend date was Tuesday, August 4th. Banner's payout ratio is currently 34.32%.

Hedge Funds Weigh In On Banner

Large investors have recently made changes to their positions in the company. Financial Life Planners bought a new stake in Banner in the 1st quarter valued at $30,000. Kemnay Advisory Services Inc. bought a new position in Banner during the 4th quarter worth $31,000. Aquatic Capital Management LLC acquired a new stake in shares of Banner during the third quarter worth $36,000. EverSource Wealth Advisors LLC bought a new stake in shares of Banner in the second quarter valued at about $45,000. Finally, Versant Capital Management Inc grew 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 in the last quarter. Institutional investors own 87.33% of the company's stock.

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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