Banner (NASDAQ:BANR) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

Key Points

• Analysts at Keefe, Bruyette & Woods raised the target price for Banner (NASDAQ:BANR) from $73.00 to $74.00, suggesting potential upside of 18.55% from its current price.
• Banner's stock received mixed ratings, with Wall Street Zen downgrading it from "hold" to "sell," while others maintain a "buy" rating, resulting in a consensus rating of "Moderate Buy."
• The company reported an earnings per share (EPS) of $1.52 for the last quarter, surpassing analyst expectations, with a revenue of $168.75 million, though it fell short of estimates of $171.52 million.

Banner (NASDAQ:BANR - Get Free Report) had its price objective boosted by analysts at Keefe, Bruyette & Woods from $73.00 to $74.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods' target price suggests a potential upside of 18.55% from the company's current price.

Other analysts have also issued reports about the company. Wall Street Zen lowered Banner from a "hold" rating to a "sell" rating in a report on Saturday, August 9th. Weiss Ratings restated a "buy (b-)" rating on shares of Banner in a research note on Wednesday, October 8th. Finally, DA Davidson boosted their target price on Banner from $67.00 to $72.00 and gave the company a "neutral" rating in a research note on Friday, July 18th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $71.00.

Banner Stock Down 0.3%

Shares of NASDAQ:BANR opened at $62.42 on Friday. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 11.37 and a beta of 0.91. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.40. Banner has a 12-month low of $54.01 and a 12-month high of $78.05. The business's 50 day moving average is $65.25 and its 200 day moving average is $63.72.

Banner (NASDAQ:BANR - Get Free Report) last issued its quarterly earnings results on Wednesday, October 15th. The financial services provider reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. The business had revenue of $168.75 million for the quarter, compared to analyst estimates of $171.52 million. Banner had a return on equity of 10.44% and a net margin of 21.80%. On average, sell-side analysts forecast that Banner will post 5.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Banner

A number of hedge funds and other institutional investors have recently modified their holdings of BANR. EverSource Wealth Advisors LLC purchased a new position in shares of Banner in the 2nd quarter worth about $45,000. GAMMA Investing LLC boosted its holdings in shares of Banner by 53.9% in the 1st quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock worth $48,000 after purchasing an additional 264 shares in the last quarter. Quarry LP boosted its holdings in shares of Banner by 4,612.0% in the 1st quarter. Quarry LP now owns 1,178 shares of the financial services provider's stock worth $75,000 after purchasing an additional 1,153 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of Banner in the 2nd quarter worth about $99,000. Finally, CWM LLC boosted its holdings in Banner by 21.9% during the 3rd quarter. CWM LLC now owns 1,619 shares of the financial services provider's stock valued at $106,000 after acquiring an additional 291 shares during the period. 87.33% of the stock is currently owned by hedge funds and other 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.

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