Banner (NASDAQ:BANR) Cut to Sell at Wall Street Zen

Banner (NASDAQ:BANR) was downgraded by equities research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report issued on Saturday.

Several other brokerages have also issued reports on BANR. Piper Sandler restated a “neutral” rating and issued a $70.00 price objective on shares of Banner in a report on Monday, December 1st. Keefe, Bruyette & Woods lifted their price target on shares of Banner from $73.00 to $74.00 and gave the company a “market perform” rating in a research report on Friday, October 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Banner in a report on Wednesday, January 21st. Raymond James Financial reaffirmed an “outperform” rating and set a $70.00 price objective (down previously from $72.00) on shares of Banner in a research report on Friday, October 17th. Finally, DA Davidson cut their target price on Banner from $73.00 to $69.00 and set a “neutral” rating on the stock in a research report on Friday, October 17th. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Banner currently has a consensus rating of “Hold” and a consensus price target of $71.17.

Banner Stock Up 0.2%

Shares of NASDAQ BANR opened at $61.84 on Friday. The company has a market capitalization of $2.11 billion, a P/E ratio of 10.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.86 and a quick ratio of 0.86. The company has a 50 day simple moving average of $64.31 and a 200-day simple moving average of $64.11. Banner has a 1 year low of $54.01 and a 1 year high of $71.75.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BANR. GAMMA Investing LLC raised its holdings in shares of Banner by 26.3% in the 2nd quarter. GAMMA Investing LLC now owns 952 shares of the financial services provider’s stock valued at $61,000 after purchasing an additional 198 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new position in Banner in the third quarter valued at $16,500,000. Edgestream Partners L.P. increased its holdings in Banner by 86.8% in the second quarter. Edgestream Partners L.P. now owns 59,947 shares of the financial services provider’s stock valued at $3,846,000 after buying an additional 27,863 shares during the last quarter. CSM Advisors LLC acquired a new stake in Banner in the second quarter valued at $423,000. Finally, Westwood Holdings Group Inc. lifted its holdings in Banner by 3.2% during the 2nd quarter. Westwood Holdings Group Inc. now owns 1,179,927 shares of the financial services provider’s stock worth $75,692,000 after buying an additional 36,940 shares during the last quarter. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

Banner Company Profile

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.