Banner (NASDAQ:BANR) Given New $73.00 Price Target at Keefe, Bruyette & Woods

Banner (NASDAQ:BANR - Free Report) had its price objective decreased by Keefe, Bruyette & Woods from $75.00 to $73.00 in a research report sent to investors on Monday morning,Benzinga reports. Keefe, Bruyette & Woods currently has a market perform rating on the financial services provider's stock.

Several other research analysts also recently issued reports on the stock. Janney Montgomery Scott raised shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 price objective on the stock in a research report on Monday, April 21st. Stephens reaffirmed an "overweight" rating and set a $82.00 price objective on shares of Banner in a research note on Thursday, January 23rd. Finally, DA Davidson lifted their target price on Banner from $73.00 to $76.00 and gave the company a "neutral" rating in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $70.83.

Banner Stock Down 1.2 %

BANR stock traded down $0.74 during midday trading on Monday, reaching $61.52. 171,250 shares of the company were exchanged, compared to its average volume of 212,284. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.85 and a current ratio of 0.86. The stock's 50-day simple moving average is $62.99 and its 200 day simple moving average is $67.12. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 12.61 and a beta of 0.94. Banner has a 1-year low of $43.63 and a 1-year high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) last announced its earnings results on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.23 by $0.06. Banner had a return on equity of 10.03% and a net margin of 20.28%. The firm had revenue of $159.88 million during the quarter, compared to analysts' expectations of $159.72 million. During the same period in the prior year, the firm earned $1.22 EPS. On average, equities analysts forecast that Banner will post 5.23 earnings per share for the current year.

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, May 9th. Investors of record on Tuesday, April 29th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.12%. The ex-dividend date is Tuesday, April 29th. Banner's dividend payout ratio is currently 37.72%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its holdings in shares of Banner by 28.1% in the 4th quarter. Victory Capital Management Inc. now owns 1,701,653 shares of the financial services provider's stock worth $113,619,000 after acquiring an additional 373,037 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Banner by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,379,521 shares of the financial services provider's stock valued at $92,111,000 after purchasing an additional 49,457 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Banner by 1.5% in the third quarter. Geode Capital Management LLC now owns 823,763 shares of the financial services provider's stock valued at $49,073,000 after buying an additional 11,808 shares in the last quarter. American Century Companies Inc. raised its stake in shares of Banner by 5.5% during the 4th quarter. American Century Companies Inc. now owns 738,356 shares of the financial services provider's stock worth $49,300,000 after buying an additional 38,454 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in shares of Banner by 10,213.3% in the 4th quarter. William Blair Investment Management LLC now owns 634,579 shares of the financial services provider's stock worth $42,371,000 after buying an additional 628,426 shares in the last quarter. 87.33% of the stock is owned by hedge funds and other institutional investors.

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.