Banner (NASDAQ:BANR) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Key Points

• Banner shares briefly moved above their 200-day moving average of $67.35, but last traded at $66.60. The stock has a market capitalization of approximately $2.26 billion and a P/E ratio of 10.99.
• Analysts remain generally cautious, with two Buy ratings and four Hold ratings producing an average rating of Hold and an average price target of $73.75. Recent targets ranged from $71 to $78, while one research firm downgraded the stock to Sell.
• Banner reported quarterly EPS of $1.44, slightly below the $1.46 consensus estimate, and revenue of $172.11 million versus expectations of $174.54 million. The company maintains a quarterly dividend of $0.52 per share, equivalent to a 3.1% yield.

Banner Corporation (NASDAQ:BANR - Get Free Report) shares crossed above its two hundred day moving average during trading on Tuesday. The stock has a two hundred day moving average of $67.35 and traded as high as $67.35. Banner shares last traded at $66.60, with a volume of 172,911 shares trading hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BANR shares. Keefe, Bruyette & Woods increased their target price on shares of Banner from $75.00 to $78.00 and gave the company a "market perform" rating in a research note on Monday, July 27th. Benchmark started coverage on Banner in a research note on Wednesday, July 8th. They set a "hold" rating on the stock. DA Davidson upped their price target on Banner from $72.00 to $76.00 and gave the company a "neutral" rating in a report on Monday, July 27th. Wall Street Zen cut Banner from a "hold" rating to a "sell" rating in a report on Saturday, July 25th. Finally, Piper Sandler reduced their price objective on Banner from $74.00 to $71.00 and set a "neutral" rating for the company in a research report on Thursday, October 1st. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $73.75.

Banner Stock Performance

The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.26. The firm has a market capitalization of $2.26 billion, a price-to-earnings ratio of 10.99 and a beta of 0.83. The stock has a fifty day moving average price of $70.01 and a 200-day moving average price of $67.35.

Banner (NASDAQ:BANR - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 EPS for the quarter, missing the consensus estimate of $1.46 by ($0.02). Banner had a net margin of 23.55% and a return on equity of 10.72%. The company had revenue of $172.11 million during the quarter, compared to analyst estimates of $174.54 million. As a group, analysts anticipate that Banner Corporation will post 6.15 earnings per share for the current fiscal year.

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Tuesday, August 4th were issued a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.1%. Banner's dividend payout ratio (DPR) is presently 34.32%.

Institutional Investors Weigh In On Banner

Institutional investors and hedge funds have recently made changes to their positions in the company. Nykredit A S acquired a new position in Banner in the second quarter valued at about $28,000. Financial Life Planners acquired a new stake in shares of Banner during the first quarter worth approximately $30,000. Public Employees Retirement System of Ohio acquired a new stake in shares of Banner during the second quarter worth approximately $36,000. Versant Capital Management Inc increased its holdings in shares of Banner by 31.5% during the second 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 in the last quarter. Finally, Allworth Financial LP raised its stake in shares of Banner by 342.4% in the second quarter. Allworth Financial LP now owns 845 shares of the financial services provider's stock valued at $56,000 after acquiring an additional 654 shares during the last quarter. Institutional investors and hedge funds own 87.33% of the company's stock.

Banner Company Profile

Banner Corporation is a bank holding company headquartered in Walla Walla, Washington. Its principal subsidiary, Banner Bank, is a community bank that provides financial services to individuals, families, businesses and nonprofit organizations.

Banner Bank offers deposit accounts, residential and commercial real estate lending, construction loans, business and consumer loans, mortgage services, treasury management and wealth management solutions. The bank also serves small and mid-sized businesses through commercial banking products and relationship-based financial services.

Founded in the Pacific Northwest, Banner has expanded its banking operations across Washington, Oregon, Idaho, California and Utah.

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