DA Davidson Forecasts Strong Price Appreciation for Banner (NASDAQ:BANR) Stock

Key Points

• DA Davidson raised Banner’s price target from $72 to $76 while maintaining a “neutral” rating, implying approximately 8.11% upside from the stock’s $70.30 price.
• Analyst sentiment remains cautious: Banner has an average “Hold” rating and a consensus target price of $72, with two Buy ratings and four Hold ratings.
• Banner reported quarterly EPS of $1.44, slightly below the $1.46 consensus estimate, while revenue of $172.11 million also fell short of analysts’ $174.54 million forecast. Institutional investors own 87.33% of the stock.

Banner (NASDAQ:BANR - Get Free Report) had its target price boosted by equities researchers at DA Davidson from $72.00 to $76.00 in a report released on Monday,Benzinga reports. The firm currently has a "neutral" rating on the financial services provider's stock. DA Davidson's price target suggests a potential upside of 8.11% from the stock's current price.

Other research analysts also recently issued research reports about the stock. Piper Sandler boosted their price target on shares of Banner from $63.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, April 27th. Keefe, Bruyette & Woods upped their target price on Banner from $73.00 to $75.00 and gave the stock a "market perform" rating in a research report on Monday, May 18th. Wall Street Zen cut shares of Banner from a "hold" rating to a "sell" rating in a research report on Saturday. Weiss Ratings raised shares of Banner from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, June 18th. Finally, Benchmark assumed coverage on Banner in a report on Wednesday, July 8th. They issued a "hold" rating for the company. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $72.00.

Banner Stock Performance

Shares of BANR traded up $0.01 during mid-day trading on Monday, hitting $70.30. 59,245 shares of the company's stock were exchanged, compared to its average volume of 305,385. The firm has a market cap of $2.39 billion, a price-to-earnings ratio of 11.59 and a beta of 0.83. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.26. The stock's 50-day simple moving average is $66.63 and its 200-day simple moving average is $64.19. Banner has a 52 week low of $57.05 and a 52 week high of $72.65.

Banner (NASDAQ:BANR - Get Free Report) last posted its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.46 by ($0.02). The firm had revenue of $172.11 million for the quarter, compared to analyst estimates of $174.54 million. Banner had a return on equity of 10.72% and a net margin of 23.55%. On average, equities research analysts expect that Banner will post 6.17 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BANR. Royal Bank of Canada raised its holdings in Banner by 1.0% during the 4th quarter. Royal Bank of Canada now owns 17,519 shares of the financial services provider's stock valued at $1,097,000 after buying an additional 167 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Banner by 31.5% in the 2nd quarter. Versant Capital Management Inc now owns 714 shares of the financial services provider's stock worth $47,000 after buying an additional 171 shares during the period. First Trust Advisors LP boosted its position in shares of Banner by 0.4% in the 3rd quarter. First Trust Advisors LP now owns 41,634 shares of the financial services provider's stock worth $2,727,000 after purchasing an additional 175 shares in the last quarter. US Bancorp DE boosted its holdings in Banner by 8.9% in the third quarter. US Bancorp DE now owns 2,154 shares of the financial services provider's stock worth $141,000 after acquiring an additional 176 shares in the last quarter. Finally, ProShare Advisors LLC grew its position in Banner by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 6,628 shares of the financial services provider's stock valued at $415,000 after purchasing an additional 197 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors.

Banner Company Profile

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.

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