Keefe, Bruyette & Woods Boosts Banner (NASDAQ:BANR) Price Target to $75.00

Banner (NASDAQ:BANR) had its price objective upped by investment analysts at Keefe, Bruyette & Woods from $73.00 to $75.00 in a research report issued on Monday,Benzinga reports. The firm currently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 17.19% from the company’s previous close.

Several other equities analysts have also recently commented on the stock. Piper Sandler boosted their price objective on shares of Banner from $63.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, April 27th. DA Davidson restated a “neutral” rating and issued a $72.00 target price on shares of Banner in a research report on Monday, May 4th. Wall Street Zen upgraded shares of Banner from a “sell” rating to a “hold” rating in a research report on Saturday, February 28th. Finally, Weiss Ratings raised shares of Banner from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 9th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Banner currently has an average rating of “Hold” and a consensus target price of $71.00.

Banner Stock Up 2.3%

Shares of NASDAQ:BANR traded up $1.42 during trading on Monday, reaching $64.00. 17,816 shares of the stock were exchanged, compared to its average volume of 295,359. The stock has a fifty day moving average of $62.52 and a two-hundred day moving average of $63.00. Banner has a 1-year low of $57.05 and a 1-year high of $69.83. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.86 and a quick ratio of 0.85. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 10.76 and a beta of 0.85.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, April 22nd. The financial services provider reported $1.59 EPS for the quarter, topping analysts’ consensus estimates of $1.38 by $0.21. Banner had a return on equity of 10.77% and a net margin of 23.24%.The firm had revenue of $168.91 million during the quarter, compared to analyst estimates of $169.60 million. Research analysts anticipate that Banner will post 6.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Banner

Institutional investors have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in Banner by 54.7% in the first quarter. Royal Bank of Canada now owns 22,128 shares of the financial services provider’s stock worth $1,412,000 after purchasing an additional 7,828 shares during the period. AQR Capital Management LLC raised its stake in shares of Banner by 19.6% during the 1st quarter. AQR Capital Management LLC now owns 29,714 shares of the financial services provider’s stock worth $1,895,000 after acquiring an additional 4,877 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Banner by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,422 shares of the financial services provider’s stock worth $1,302,000 after purchasing an additional 891 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Banner during the first quarter valued at about $248,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Banner by 5.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 116,471 shares of the financial services provider’s stock worth $7,427,000 after buying an additional 6,059 shares during the period. 87.33% of the stock is owned by institutional investors.

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.