Banner (NASDAQ:BANR) Given New $65.00 Price Target at Piper Sandler

Banner (NASDAQ:BANR) had its price target increased by Piper Sandler from $51.00 to $65.00 in a research report report published on Friday, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

A number of other brokerages have also recently issued reports on BANR. StockNews.com cut shares of Banner from a hold rating to a sell rating in a research report on Saturday, June 8th. Stephens reissued an overweight rating and issued a $53.00 price objective on shares of Banner in a report on Thursday. DA Davidson decreased their target price on shares of Banner from $50.00 to $47.00 and set a neutral rating on the stock in a research report on Friday, April 19th. Finally, Janney Montgomery Scott downgraded shares of Banner from a buy rating to a neutral rating in a research report on Friday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Banner presently has an average rating of Hold and an average price target of $54.00.

Banner Stock Performance

BANR opened at $58.16 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.85 and a quick ratio of 0.82. The business has a fifty day simple moving average of $48.25 and a 200 day simple moving average of $46.97. Banner has a 1 year low of $39.31 and a 1 year high of $61.34. The company has a market capitalization of $2.00 billion, a PE ratio of 12.09 and a beta of 1.06.

Banner Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, August 6th. This represents a $1.92 annualized dividend and a yield of 3.30%. Banner’s dividend payout ratio is currently 39.92%.

Institutional Investors Weigh In On Banner

A number of large investors have recently modified their holdings of the business. Diversified Trust Co grew its position in Banner by 4.8% in the second quarter. Diversified Trust Co now owns 10,382 shares of the financial services provider’s stock valued at $515,000 after acquiring an additional 476 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Banner by 179.9% during the 2nd quarter. SG Americas Securities LLC now owns 11,780 shares of the financial services provider’s stock valued at $585,000 after purchasing an additional 7,571 shares during the last quarter. CWM LLC lifted its stake in Banner by 60.1% in the 2nd quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock valued at $94,000 after purchasing an additional 715 shares during the last quarter. Cascade Investment Advisors Inc. boosted its position in Banner by 7.3% in the second quarter. Cascade Investment Advisors Inc. now owns 22,955 shares of the financial services provider’s stock valued at $1,139,000 after buying an additional 1,570 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its holdings 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 buying an additional 25,525 shares in the last quarter. 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.