Banner (NASDAQ:BANR) PT Raised to $69.00 at DA Davidson

Banner (NASDAQ:BANR) had its price objective increased by DA Davidson from $60.00 to $69.00 in a note issued to investors on Friday, Marketbeat Ratings reports. The firm currently has a “neutral” rating on the financial services provider’s stock. DA Davidson’s price target suggests a potential upside of 3.37% from the stock’s previous close. DA Davidson also issued estimates for Banner’s Q4 2024 earnings at $1.26 EPS and FY2025 earnings at $4.90 EPS.

A number of other analysts have also issued reports on the company. Piper Sandler boosted their target price on Banner from $51.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, July 19th. Raymond James boosted their target price on Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Stephens reissued an “overweight” rating and issued a $53.00 target price on shares of Banner in a research report on Thursday, July 18th. Finally, Janney Montgomery Scott lowered Banner from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $61.60.

Banner Stock Down 1.7 %

BANR stock opened at $66.75 on Friday. The firm has a market cap of $2.30 billion, a PE ratio of 13.88 and a beta of 1.05. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.85 and a current ratio of 0.85. The firm’s 50 day moving average price is $59.02 and its 200-day moving average price is $52.36. Banner has a one year low of $39.31 and a one year high of $68.11.

Banner (NASDAQ:BANR) last released its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.18 by $0.12. The firm had revenue of $213.90 million for the quarter, compared to analyst estimates of $152.95 million. Banner had a net margin of 20.93% and a return on equity of 10.89%. During the same quarter in the previous year, the company earned $1.43 EPS. On average, equities research analysts anticipate that Banner will post 4.71 EPS for the current year.

Hedge Funds Weigh In On Banner

Institutional investors have recently modified their holdings of the business. Hennessy Advisors Inc. grew its stake in shares of Banner by 58.3% in the first quarter. Hennessy Advisors Inc. now owns 57,000 shares of the financial services provider’s stock worth $2,736,000 after acquiring an additional 21,000 shares in the last quarter. Boston Partners acquired a new position in shares of Banner during the first quarter worth $1,025,000. Vanguard Group Inc. grew its stake in shares of Banner by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 4,187,837 shares of the financial services provider’s stock worth $224,301,000 after purchasing an additional 40,988 shares in the last quarter. Westwood Holdings Group Inc. grew its stake in shares of Banner by 3.7% during the first quarter. Westwood Holdings Group Inc. now owns 717,058 shares of the financial services provider’s stock worth $34,419,000 after purchasing an additional 25,525 shares in the last quarter. Finally, Entropy Technologies LP acquired a new position in shares of Banner during the first quarter worth $247,000. Institutional investors and hedge funds own 87.33% of the company’s stock.

Banner Company Profile

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.