Banner (NASDAQ:BANR) Upgraded at Janney Montgomery Scott

Banner (NASDAQ:BANR - Get Free Report) was upgraded by Janney Montgomery Scott from a "neutral" rating to a "buy" rating in a note issued to investors on Monday, Marketbeat reports. The brokerage currently has a $71.00 target price on the financial services provider's stock. Janney Montgomery Scott's price objective would indicate a potential upside of 15.41% from the company's current price.

A number of other equities research analysts also recently issued reports on the stock. Stephens restated an "overweight" rating and issued a $82.00 target price on shares of Banner in a report on Thursday, January 23rd. DA Davidson upped their price objective on Banner from $73.00 to $76.00 and gave the stock a "neutral" rating in a report on Friday, January 24th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat, Banner presently has an average rating of "Hold" and an average target price of $70.83.

Banner Trading Down 1.2 %

BANR stock traded down $0.74 during midday trading on Monday, hitting $61.52. The stock had a trading volume of 171,250 shares, compared to its average volume of 212,284. The company's 50-day moving average price is $62.99 and its 200 day moving average price is $67.12. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market cap of $2.12 billion, a PE ratio of 12.61 and a beta of 0.94. Banner has a 12-month low of $43.63 and a 12-month high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) last released 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. The firm had revenue of $159.88 million for the quarter, compared to the consensus estimate of $159.72 million. Banner had a return on equity of 10.03% and a net margin of 20.28%. During the same period in the prior year, the business posted $1.22 earnings per share. On average, equities research analysts predict that Banner will post 5.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Financial Life Planners acquired a new stake in shares of Banner in the fourth quarter valued at about $32,000. USA Financial Formulas acquired a new position in shares of Banner during the fourth quarter worth $32,000. Opal Wealth Advisors LLC purchased a new position in shares of Banner in the first quarter valued at $34,000. Smartleaf Asset Management LLC grew its holdings in Banner by 167.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 705 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 441 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in Banner by 53.9% during the 1st quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock worth $48,000 after buying an additional 264 shares during the period. Institutional investors and hedge funds own 87.33% of the company's stock.

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.