StockNews.com Upgrades Banner (NASDAQ:BANR) to “Hold”

Banner (NASDAQ:BANR) was upgraded by stock analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.

Several other equities research analysts also recently commented on the company. DA Davidson reduced their price objective on Banner from $50.00 to $47.00 and set a “neutral” rating for the company in a report on Friday, April 19th. Stephens decreased their price objective on shares of Banner from $54.00 to $53.00 and set an “overweight” rating for the company in a report on Friday, April 19th. Finally, Piper Sandler dropped their target price on shares of Banner from $54.00 to $51.00 and set an “overweight” rating on the stock in a report on Friday, April 19th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $51.20.

Banner Trading Down 1.0 %

Shares of NASDAQ BANR opened at $45.46 on Wednesday. The firm’s 50 day moving average price is $45.75 and its 200-day moving average price is $47.00. Banner has a 52-week low of $39.31 and a 52-week high of $55.66. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.82 and a current ratio of 0.82. The company has a market cap of $1.57 billion, a PE ratio of 9.45 and a beta of 1.04.

Banner (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, April 17th. The financial services provider reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.05. The business had revenue of $144.55 million for the quarter, compared to analysts’ expectations of $150.67 million. Banner had a return on equity of 11.47% and a net margin of 21.62%. On average, equities research analysts expect that Banner will post 4.72 EPS for the current fiscal year.

Institutional Trading of Banner

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BANR. Channing Capital Management LLC bought a new stake in shares of Banner during the 4th quarter valued at $8,293,000. Quest Partners LLC purchased a new stake in Banner in the fourth quarter worth about $1,115,000. Numerai GP LLC raised its stake in shares of Banner by 131.1% in the third quarter. Numerai GP LLC now owns 98,819 shares of the financial services provider’s stock worth $4,188,000 after buying an additional 56,067 shares during the period. Illinois Municipal Retirement Fund purchased a new position in shares of Banner during the 3rd quarter valued at about $836,000. Finally, Vanguard Group Inc. grew its stake in shares of Banner by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 4,146,849 shares of the financial services provider’s stock valued at $175,743,000 after acquiring an additional 36,850 shares during the period. 87.33% of the stock is owned by hedge funds and other institutional investors.

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.