Stephens Reaffirms “Overweight” Rating for Banner (NASDAQ:BANR)

Banner (NASDAQ:BANR)‘s stock had its “overweight” rating reiterated by analysts at Stephens in a report issued on Monday,Benzinga reports. They presently have a $73.00 price target on the financial services provider’s stock. Stephens’ target price points to a potential upside of 19.09% from the stock’s current price.

Other equities analysts have also issued reports about the stock. Janney Montgomery Scott upgraded shares of Banner from a “neutral” rating to a “buy” rating and set a $71.00 price objective on the stock in a report on Monday. Raymond James restated an “outperform” rating and set a $65.00 price objective (down previously from $77.00) on shares of Banner in a report on Monday. DA Davidson boosted their price objective on Banner from $73.00 to $76.00 and gave the company a “neutral” rating in a research report on Friday, January 24th. Finally, Keefe, Bruyette & Woods lowered their price objective on shares of Banner from $75.00 to $73.00 and set a “market perform” rating for the company in a research report on Monday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $70.83.

Banner Stock Up 2.6 %

NASDAQ BANR opened at $61.30 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market cap of $2.11 billion, a PE ratio of 12.56 and a beta of 0.94. The stock’s 50 day simple moving average is $63.41 and its 200 day simple moving average is $67.12. Banner has a one year low of $43.63 and a one year high of $78.05.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, April 16th. The financial services provider reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $1.23 by $0.06. Banner had a net margin of 20.28% and a return on equity of 10.03%. The business had revenue of $159.88 million during the quarter, compared to analyst estimates of $159.72 million. During the same quarter last year, the business posted $1.22 earnings per share. As a group, sell-side analysts forecast that Banner will post 5.23 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Banner

A number of institutional investors have recently modified their holdings of BANR. USA Financial Formulas bought a new position in shares of Banner during the fourth quarter worth approximately $32,000. Financial Life Planners bought a new position in Banner in the 4th quarter valued at about $32,000. Opal Wealth Advisors LLC acquired a new position in shares of Banner in the 1st quarter valued at approximately $34,000. Smartleaf Asset Management LLC lifted its holdings in shares of Banner by 167.0% during the 4th quarter. Smartleaf Asset Management LLC now owns 705 shares of the financial services provider’s stock worth $47,000 after acquiring an additional 441 shares during the period. Finally, GAMMA Investing LLC boosted its position in shares of Banner by 53.9% during the 1st quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 264 shares in the last quarter. Institutional investors 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.