Piper Sandler Cuts Banner (NASDAQ:BANR) Price Target to $63.00

Banner (NASDAQ:BANR) had its target price reduced by Piper Sandler from $67.00 to $63.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a neutral rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the company. Weiss Ratings upgraded Banner from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Wall Street Zen upgraded Banner from a “sell” rating to a “hold” rating in a research note on Saturday, February 28th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.00.

Banner Stock Performance

Shares of BANR opened at $61.60 on Thursday. The company’s fifty day moving average is $61.37 and its 200-day moving average is $62.86. Banner has a 12 month low of $54.01 and a 12 month high of $69.83. The firm has a market cap of $2.10 billion, a price-to-earnings ratio of 10.92 and a beta of 0.85. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17.

Banner (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.09. The business had revenue of $169.90 million during the quarter, compared to analyst estimates of $173.23 million. Banner had a net margin of 22.26% and a return on equity of 10.46%. Equities analysts expect that Banner will post 5.23 EPS for the current fiscal year.

Banner Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 13th. Investors of record on Tuesday, February 3rd were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.2%. The ex-dividend date was Tuesday, February 3rd. Banner’s dividend payout ratio (DPR) is 35.46%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of BANR. Hsbc Holdings PLC acquired a new stake in shares of Banner in the fourth quarter valued at about $897,000. State of Tennessee Department of Treasury lifted its position in shares of Banner by 265.5% during the 4th quarter. State of Tennessee Department of Treasury now owns 30,827 shares of the financial services provider’s stock worth $1,906,000 after purchasing an additional 22,392 shares during the last quarter. Empowered Funds LLC boosted its stake in Banner by 24.0% during the 4th quarter. Empowered Funds LLC now owns 144,226 shares of the financial services provider’s stock valued at $9,037,000 after purchasing an additional 27,899 shares during the period. Voloridge Investment Management LLC acquired a new stake in Banner in the 4th quarter valued at approximately $614,000. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in Banner in the 4th quarter valued at approximately $871,000. Institutional investors and hedge funds 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.