DA Davidson Reiterates "Neutral" Rating for Banner (NASDAQ:BANR)

Key Points

• DA Davidson reiterated a "neutral" rating on Banner with a $72.00 price objective (about a 10.5% upside) while the Street consensus is a "Hold" with an average target of $70.75.
• Banner reported quarterly EPS of $1.59, beating estimates of $1.38 while revenue was roughly in line at $168.9M, and the company posted a 10.77% ROE and a 23.24% net margin.
• Shares traded down 1.1% to $65.16, with a market cap of $2.21B and a P/E of 10.97; the 12‑month range is $57.05–$69.83 and institutional investors own 87.33% of the stock.

Banner (NASDAQ:BANR - Get Free Report)'s stock had its "neutral" rating restated by equities research analysts at DA Davidson in a report issued on Monday,Benzinga reports. They currently have a $72.00 price objective on the financial services provider's stock. DA Davidson's target price would indicate a potential upside of 10.50% from the company's previous close.

A number of other research analysts also recently commented on the company. Wall Street Zen raised Banner from a "sell" rating to a "hold" rating in a report on Saturday, February 28th. Piper Sandler increased their price target on Banner from $63.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, April 27th. Finally, Weiss Ratings raised Banner from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, March 9th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $70.75.

Banner Stock Down 1.1%

Shares of NASDAQ BANR traded down $0.71 on Monday, hitting $65.16. The company had a trading volume of 82,652 shares, compared to its average volume of 298,524. The firm has a market capitalization of $2.21 billion, a P/E ratio of 10.97 and a beta of 0.85. Banner has a 12-month low of $57.05 and a 12-month high of $69.83. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average of $61.87 and a two-hundred day moving average of $62.88.

Banner (NASDAQ:BANR - Get Free Report) last issued its quarterly earnings results on Wednesday, April 22nd. The financial services provider reported $1.59 EPS for the quarter, beating analysts' consensus estimates of $1.38 by $0.21. The firm had revenue of $168.91 million during the quarter, compared to the consensus estimate of $169.60 million. Banner had a return on equity of 10.77% and a net margin of 23.24%. As a group, equities research analysts forecast that Banner will post 6.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Royal Bank of Canada lifted 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 worth $1,097,000 after buying an additional 167 shares during the last quarter. First Trust Advisors LP lifted its holdings in Banner by 0.4% during the 3rd quarter. First Trust Advisors LP now owns 41,634 shares of the financial services provider's stock worth $2,727,000 after buying an additional 175 shares during the last quarter. US Bancorp DE lifted its holdings in Banner by 8.9% during the 3rd quarter. US Bancorp DE now owns 2,154 shares of the financial services provider's stock worth $141,000 after buying an additional 176 shares during the last quarter. Arizona State Retirement System lifted its holdings in Banner by 1.8% during the 3rd quarter. Arizona State Retirement System now owns 10,240 shares of the financial services provider's stock worth $671,000 after buying an additional 177 shares during the last quarter. Finally, ProShare Advisors LLC lifted its holdings in Banner by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 6,628 shares of the financial services provider's stock worth $415,000 after buying an additional 197 shares during the last quarter. Institutional investors own 87.33% of the company's stock.

About Banner

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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