Research Analysts Set Expectations for Banner Co.’s Q2 2024 Earnings (NASDAQ:BANR)

Banner Co. (NASDAQ:BANR) – Research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of Banner in a research note issued to investors on Monday, April 22nd. DA Davidson analyst J. Rulis expects that the financial services provider will post earnings of $1.13 per share for the quarter. DA Davidson has a “Neutral” rating and a $47.00 price target on the stock. The consensus estimate for Banner’s current full-year earnings is $4.61 per share. DA Davidson also issued estimates for Banner’s FY2024 earnings at $4.40 EPS and FY2025 earnings at $4.55 EPS.

Other analysts also recently issued reports about the company. Keefe, Bruyette & Woods lowered their price objective on Banner from $58.00 to $54.00 and set a “market perform” rating for the company in a research note on Monday, January 22nd. Piper Sandler lowered their price objective on Banner from $54.00 to $51.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Stephens lowered their price objective on Banner from $54.00 to $53.00 and set an “overweight” rating for the company in a research note on Friday, April 19th. Finally, Raymond James increased their price objective on Banner from $47.00 to $51.00 and gave the stock an “outperform” rating in a research note on Monday, January 22nd. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Banner currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.20.

Banner Stock Performance

Shares of Banner stock opened at $46.15 on Tuesday. Banner has a one year low of $39.31 and a one year high of $55.66. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 9.59 and a beta of 1.03. The business has a 50-day simple moving average of $45.46 and a 200 day simple moving average of $46.55. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.82 and a quick ratio of 0.82.

Banner Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Tuesday, April 30th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.16%. The ex-dividend date of this dividend is Monday, April 29th. Banner’s dividend payout ratio is presently 39.92%.

Hedge Funds Weigh In On Banner

Several institutional investors have recently modified their holdings of BANR. Victory Capital Management Inc. grew its holdings in shares of Banner by 247.2% in the fourth quarter. Victory Capital Management Inc. now owns 641,701 shares of the financial services provider’s stock valued at $34,370,000 after acquiring an additional 456,868 shares in the last quarter. Norges Bank bought a new position in Banner during the fourth quarter valued at $12,097,000. Hsbc Holdings PLC grew its holdings in Banner by 2,700.2% during the fourth quarter. Hsbc Holdings PLC now owns 221,243 shares of the financial services provider’s stock valued at $11,861,000 after purchasing an additional 213,342 shares during the period. Channing Capital Management LLC bought a new position in Banner during the fourth quarter valued at $8,293,000. Finally, The Manufacturers Life Insurance Company grew its holdings in Banner by 9.3% during the fourth quarter. The Manufacturers Life Insurance Company now owns 820,511 shares of the financial services provider’s stock valued at $43,947,000 after purchasing an additional 70,143 shares during the period. 87.33% of the stock is 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.