Banner's (BANR) Outperform Rating Reiterated at Raymond James Financial

Key Points

• Raymond James Financial has reiterated an "outperform" rating for Banner (BANR) with a new price target of $70.00, reflecting a decrease from the previous target of $72.00 but indicating a potential upside of 12.52% from the current stock price.
• Banner's stock recently traded at $62.21, showing a decline of 0.3%. The company reported earnings of $1.52 per share, exceeding estimates, but had revenue lower than expected at $168.75 million.
• Institutional investors collectively own 87.33% of Banner's stock, with recent notable investments increasing holdings by significant percentages, indicating strong interest from financial institutions.

Banner (NASDAQ:BANR - Get Free Report)'s stock had its "outperform" rating restated by stock analysts at Raymond James Financial in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $70.00 price target on the financial services provider's stock, down from their prior price target of $72.00. Raymond James Financial's price objective indicates a potential upside of 12.52% from the company's current price.

Several other equities analysts also recently issued reports on BANR. Wall Street Zen downgraded Banner from a "hold" rating to a "sell" rating in a research report on Saturday, August 9th. DA Davidson upped their target price on Banner from $67.00 to $72.00 and gave the company a "neutral" rating in a research report on Friday, July 18th. Weiss Ratings reissued a "buy (b-)" rating on shares of Banner in a research report on Wednesday, October 8th. Finally, Keefe, Bruyette & Woods upped their target price on Banner from $73.00 to $74.00 and gave the company a "market perform" rating in a research report on Friday. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $72.00.

Banner Stock Down 0.3%

Shares of BANR traded down $0.21 during midday trading on Friday, hitting $62.21. 143,720 shares of the company's stock traded hands, compared to its average volume of 216,521. Banner has a 1 year low of $54.01 and a 1 year high of $78.05. The firm's fifty day moving average is $65.25 and its 200-day moving average is $63.72. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $2.15 billion, a price-to-earnings ratio of 11.33 and a beta of 0.91.

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

Institutional Investors Weigh In On Banner

Several institutional investors have recently bought and sold shares of BANR. EverSource Wealth Advisors LLC acquired a new stake in Banner in the 2nd quarter worth about $45,000. GAMMA Investing LLC boosted its holdings in 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 buying an additional 264 shares during the last quarter. Quarry LP boosted its holdings in 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 buying an additional 1,153 shares during the last quarter. AlphaQuest LLC acquired a new stake in Banner in the 2nd quarter worth about $99,000. Finally, CWM LLC boosted its holdings in Banner by 21.9% in the 3rd quarter. CWM LLC now owns 1,619 shares of the financial services provider's stock worth $106,000 after buying an additional 291 shares during the last quarter. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.