DA Davidson Cuts Banner (NASDAQ:BANR) Price Target to $69.00

Key Points

• DA Davidson has lowered its price target for Banner Corporation's stock from $73.00 to $69.00, maintaining a "neutral" rating which suggests a potential upside of 12.09% based on the current price.
• Other analysts have offered mixed ratings, with Weiss Ratings maintaining a "buy" and Raymond James adjusting its target to $70.00, while Wall Street Zen downgraded to a "sell."
• Banner's stock performance reflects a current trading price of $61.56, having a market cap of $2.13 billion and a PE ratio of 11.22, with an average EPS projection of 5.23 for the year.

Banner (NASDAQ:BANR - Get Free Report) had its price objective decreased by analysts at DA Davidson from $73.00 to $69.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. DA Davidson's price objective indicates a potential upside of 12.09% from the company's current price.

A number of other research firms have also commented on BANR. Weiss Ratings restated a "buy (b-)" rating on shares of Banner in a research note on Wednesday, October 8th. Raymond James Financial restated an "outperform" rating and issued a $70.00 price objective (down previously from $72.00) on shares of Banner in a research note on Friday. Wall Street Zen downgraded shares of Banner from a "hold" rating to a "sell" rating in a research note on Saturday, August 9th. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Banner from $73.00 to $74.00 and gave the stock a "market perform" rating in a research note on Friday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $71.40.

Banner Stock Performance

Shares of Banner stock traded down $0.87 during trading on Friday, hitting $61.56. 231,326 shares of the stock were exchanged, compared to its average volume of 216,961. The stock's fifty day moving average is $65.25 and its 200 day moving average is $63.72. The stock has a market cap of $2.13 billion, a PE ratio of 11.22 and a beta of 0.91. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.88 and a current ratio of 0.88. Banner has a 12 month low of $54.01 and a 12 month high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) last released its earnings results 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 net margin of 21.80% and a return on equity of 10.44%. The firm had revenue of $168.75 million for the quarter, compared to analysts' expectations of $171.52 million. As a group, sell-side analysts anticipate that Banner will post 5.23 EPS for the current year.

Institutional Investors Weigh In On Banner

Several large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC acquired a new stake in shares of Banner during the second quarter valued at about $45,000. GAMMA Investing LLC lifted its stake in shares of Banner by 53.9% in the first quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock worth $48,000 after acquiring an additional 264 shares during the period. Quarry LP lifted its stake in shares of Banner by 4,612.0% in the first quarter. Quarry LP now owns 1,178 shares of the financial services provider's stock worth $75,000 after acquiring an additional 1,153 shares during the period. AlphaQuest LLC acquired a new position in shares of Banner in the second quarter worth approximately $99,000. Finally, CWM LLC lifted its stake in shares of Banner by 21.9% in the third quarter. CWM LLC now owns 1,619 shares of the financial services provider's stock worth $106,000 after acquiring an additional 291 shares during the period. Institutional investors and hedge funds own 87.33% of the company's stock.

Banner Company Profile

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.