Banner (NASDAQ:BANR) Stock Rating Upgraded by Janney Montgomery Scott

Banner (NASDAQ:BANR) was upgraded by investment analysts at Janney Montgomery Scott from a “neutral” rating to a “buy” rating in a report released on Monday,Benzinga reports.

Other research analysts have also issued reports about the stock. Stephens reiterated an “overweight” rating and issued a $82.00 price objective on shares of Banner in a research note on Thursday, January 23rd. DA Davidson boosted their price objective on Banner from $73.00 to $76.00 and gave the company a “neutral” rating in a research note on Friday, January 24th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $72.60.

Banner Stock Up 1.4 %

Banner stock opened at $60.49 on Monday. The firm has a 50 day moving average price of $63.72 and a 200-day moving average price of $67.16. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. Banner has a twelve month low of $43.63 and a twelve month high of $78.05. The company has a market capitalization of $2.09 billion, a P/E ratio of 12.40 and a beta of 0.94.

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

Hedge Funds Weigh In On Banner

A number of institutional investors have recently added to or reduced their stakes in BANR. Financial Life Planners purchased a new position in shares of Banner during the fourth quarter worth about $32,000. USA Financial Formulas bought a new stake in Banner during the fourth quarter valued at approximately $32,000. Opal Wealth Advisors LLC purchased a new position in Banner in the 1st quarter worth approximately $34,000. Smartleaf Asset Management LLC increased its holdings in shares of Banner by 167.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 705 shares of the financial services provider’s stock worth $47,000 after buying an additional 441 shares during the last quarter. Finally, GAMMA Investing LLC raised 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 valued at $48,000 after buying an additional 264 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors.

About Banner

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.