Banner (NASDAQ:BANR) Upgraded to "Hold" at Wall Street Zen

Key Points

• Banner (NASDAQ:BANR) has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, signaling a more optimistic outlook for investors.
• Analysts have mixed views on the stock's target price, with estimates ranging from $69.00 to $74.00, while the average target price stands at $71.40.
• Banner reported earnings of $1.52 per share, exceeding analysts' expectations by $0.11, despite revenue slightly falling short of estimates at $168.75 million.

Banner (NASDAQ:BANR - Get Free Report) was upgraded by analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued to investors on Saturday.

A number of other equities analysts also recently weighed in on BANR. DA Davidson dropped their target price on shares of Banner from $73.00 to $69.00 and set a "neutral" rating for the company in a research note on Friday. Raymond James Financial reaffirmed an "outperform" rating and issued a $70.00 target price (down from $72.00) on shares of Banner in a research note on Friday. Keefe, Bruyette & Woods boosted their target price on shares of Banner from $73.00 to $74.00 and gave the stock a "market perform" rating in a research note on Friday. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Banner in a research note on Wednesday, October 8th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Banner has an average rating of "Moderate Buy" and an average target price of $71.40.

Banner Stock Performance

NASDAQ:BANR opened at $61.75 on Friday. Banner has a 1 year low of $54.01 and a 1 year high of $78.05. The firm has a 50 day moving average of $65.23 and a 200-day moving average of $63.71. The company has a current ratio of 0.86, a quick ratio of 0.88 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $2.14 billion, a P/E ratio of 11.25 and a beta of 0.91.

Banner (NASDAQ:BANR - Get Free Report) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.41 by $0.11. Banner had a net margin of 21.80% and a return on equity of 10.32%. The company had revenue of $168.75 million during the quarter, compared to the consensus estimate of $171.52 million. As a group, sell-side analysts anticipate that Banner will post 5.23 EPS for the current fiscal year.

Hedge Funds Weigh In On Banner

Several large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC acquired a new position in Banner during the second quarter valued at approximately $45,000. GAMMA Investing LLC grew its holdings in Banner by 53.9% during the first quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock valued at $48,000 after purchasing an additional 264 shares during the period. Quarry LP grew its holdings in Banner by 4,612.0% during the first quarter. Quarry LP now owns 1,178 shares of the financial services provider's stock valued at $75,000 after purchasing an additional 1,153 shares during the period. AlphaQuest LLC acquired a new position in Banner during the second quarter valued at approximately $99,000. Finally, CWM LLC grew its holdings in Banner by 21.9% during the third quarter. CWM LLC now owns 1,619 shares of the financial services provider's stock valued at $106,000 after purchasing an additional 291 shares during the period. 87.33% of the stock is currently owned by institutional investors and hedge funds.

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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