Banner’s (BANR) “Hold” Rating Reiterated at Piper Sandler

Piper Sandler reissued their hold rating on shares of Banner (NASDAQ:BANR) in a report issued on Monday, MarketBeat Ratings reports. The brokerage currently has a $70.00 price objective on the financial services provider’s stock.

Other equities analysts also recently issued reports about the stock. Raymond James Financial reissued an “outperform” rating and issued a $70.00 price target (down from $72.00) on shares of Banner in a research note on Friday, October 17th. DA Davidson reduced their target price on Banner from $73.00 to $69.00 and set a “neutral” rating on the stock in a report on Friday, October 17th. Wall Street Zen upgraded Banner from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. Keefe, Bruyette & Woods lifted their price target on Banner from $73.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, October 17th. Finally, Weiss Ratings downgraded Banner from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, October 24th. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Banner presently has an average rating of “Hold” and a consensus target price of $71.17.

Banner Stock Up 1.9%

NASDAQ BANR opened at $64.73 on Monday. Banner has a 1 year low of $54.01 and a 1 year high of $76.22. The stock has a market capitalization of $2.21 billion, a PE ratio of 11.79 and a beta of 0.93. The company has a debt-to-equity ratio of 0.16, a current ratio of 0.86 and a quick ratio of 0.86. The business’s 50-day moving average is $62.47 and its 200 day moving average is $63.96.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, October 15th. The financial services provider reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.11. Banner had a return on equity of 10.32% and a net margin of 21.80%.The company had revenue of $168.75 million during the quarter, compared to the consensus estimate of $171.52 million. Sell-side analysts forecast that Banner will post 5.23 earnings per share for the current year.

Banner Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, November 14th. Stockholders of record on Tuesday, November 4th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, November 4th. This is a boost from Banner’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 3.1%. Banner’s dividend payout ratio is 36.43%.

Hedge Funds Weigh In On Banner

Hedge funds have recently bought and sold shares of the company. Financial Life Planners bought a new stake in Banner during the 3rd quarter valued at about $32,000. Aquatic Capital Management LLC purchased a new stake in shares of Banner during the third quarter valued at approximately $36,000. EverSource Wealth Advisors LLC bought a new stake in shares of Banner during the second quarter valued at approximately $45,000. GAMMA Investing LLC raised its holdings in Banner by 26.3% in the 2nd quarter. GAMMA Investing LLC now owns 952 shares of the financial services provider’s stock worth $61,000 after acquiring an additional 198 shares during the last quarter. Finally, Quarry LP lifted its position in Banner by 4,612.0% in the 1st quarter. Quarry LP now owns 1,178 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 1,153 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.