Banner Corporation (NASDAQ:BANR) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Banner Corporation (NASDAQ:BANR) have been assigned a consensus recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $74.50.

A number of equities analysts recently weighed in on the stock. Weiss Ratings reissued a “buy (b)” rating on shares of Banner in a research note on Monday. Wall Street Zen cut shares of Banner from a “hold” rating to a “sell” rating in a research report on Saturday, July 25th. Piper Sandler reiterated an “overweight” rating and set a $74.00 price target on shares of Banner in a report on Monday. DA Davidson lifted their price objective on Banner from $72.00 to $76.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Finally, Keefe, Bruyette & Woods boosted their price objective on Banner from $75.00 to $78.00 and gave the company a “market perform” rating in a research note on Monday, July 27th.

Banner Stock Performance

NASDAQ:BANR opened at $70.78 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.88 and a current ratio of 0.88. Banner has a fifty-two week low of $57.05 and a fifty-two week high of $74.84. The company has a 50 day simple moving average of $70.84 and a two-hundred day simple moving average of $66.29. The company has a market capitalization of $2.41 billion, a PE ratio of 11.68 and a beta of 0.82.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, July 22nd. The financial services provider reported $1.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.46 by ($0.02). Banner had a return on equity of 10.72% and a net margin of 23.55%.The firm had revenue of $172.11 million during the quarter, compared to analyst estimates of $174.54 million. Research analysts anticipate that Banner will post 6.19 earnings per share for the current year.

Banner Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 14th. Investors of record on Tuesday, August 4th were paid a dividend of $0.52 per share. The ex-dividend date of this dividend was Tuesday, August 4th. This represents a $2.08 annualized dividend and a yield of 2.9%. Banner’s dividend payout ratio (DPR) is currently 34.32%.

Hedge Funds Weigh In On Banner

Institutional investors have recently added to or reduced their stakes in the business. Integrated Wealth Concepts LLC bought a new position in shares of Banner during the 2nd quarter worth approximately $76,000. Allworth Financial LP grew its position in shares of Banner by 342.4% during the 2nd quarter. Allworth Financial LP now owns 845 shares of the financial services provider’s stock worth $56,000 after buying an additional 654 shares during the period. Nykredit A S bought a new stake in shares of Banner in the 2nd quarter valued at $28,000. Corient Private Wealth LP bought a new stake in shares of Banner in the 2nd quarter valued at $232,000. Finally, iSAM Funds UK Ltd acquired a new position in shares of Banner during the 2nd quarter valued at $213,000. 87.33% of the stock is owned by institutional investors and hedge funds.

Banner Company Profile

Banner Corporation (NASDAQ:BANR) is a bank holding company headquartered in Walla Walla, Washington. Through its principal subsidiary, Banner Bank, the company provides a range of banking and financial services to individuals, families, businesses and community organizations.

Banner Bank offers deposit products, residential and commercial real estate lending, construction and land development loans, commercial business financing, consumer loans and agricultural lending. Its services also include treasury management, online and mobile banking, cash management, wealth management and other financial solutions designed for business and personal customers.

The company serves communities primarily across the Pacific Northwest and other western markets through a network of branches and digital banking channels.