Stephens Reiterates “Overweight” Rating for Banner (NASDAQ:BANR)

Stephens has upgraded its overweight rating to shares of Banner (NASDAQ:BANR – Free Report) in a report released Thursday morning, Benzinga reports. The brokerage currently has a $53.00 price target on the financial services company’s stock.

A number of other analysts also had commentary on BANR. DA Davidson lowered their price objective on shares of Banner from $50.00 to $47.00 and set a neutral rating for the company in a research note on Friday, April 19th. StockNews.com lowered shares of Banner from a hold rating to a sell rating in a research note on Saturday, June 8th. Finally, Piper Sandler lowered their price target on Banner from $54.00 to $51.00 and set an overweight rating for the stock in a report on Friday, April 19th. One analyst has rated the stock with a sell rating, three have assigned 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 a consensus price target of $54.00.

Check out our latest analysis on BANR

Banner Price Performance

BANR shares opened at $58.16 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.82 and a debt-to-equity ratio of 0.43. Banner has a one-year low of $39.31 and a one-year high of $61.34. The company has a market cap of $2.00 billion, a PE ratio of 12.09 and a beta of 1.06. The company has a 50-day moving average of $48.25 and a 200-day moving average of $47.00.

Banner (NASDAQ:BANR – Get Free Report) last released its quarterly earnings results on Wednesday, April 17. The financial services company reported $1.22 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.05. Banner had a net margin of 20.93% and a return on equity of 10.89%. The company had revenue of $144.55 million during the quarter, compared to analyst estimates of $150.67 million. On average, analysts predict that Banner will post 4.72 EPS for the current year.

Banner Dividend Announcement

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

Hedge funds weigh on banner

A number of large investors have recently made changes to their positions in BANR. American Century Companies Inc. increased its stake in Banner by 13.5% in the 3rd quarter. American Century Companies Inc. now owns 315,039 shares of the financial services provider’s stock worth $13,351,000 after purchasing an additional 37,543 shares during the period. Vanguard Group Inc. increased its stake in Banner by 0.9% in the 3rd quarter. Vanguard Group Inc. now owns 4,146,849 shares of the financial services provider’s stock worth $175,743,000 after purchasing an additional 36,850 shares during the last quarter. Diversified Trust Co increased its stake in Banner by 10.2% in the fourth quarter. Diversified Trust Co now owns 9,535 shares of the financial services provider’s stock worth $511,000 after purchasing an additional 886 shares during the last quarter. Raymond James & Associates increased its stake in Banner by 19.7% in the fourth quarter. Raymond James & Associates now owns 16,136 shares of the financial services provider’s stock worth $864,000 after purchasing an additional 2,661 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its stake in Banner by 197.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 18,130 shares of the financial services provider’s stock worth $971,000 after purchasing an additional 12,034 shares in the last quarter. Institutional investors and hedge funds own 87.33% of the company’s stock.

About Banner

(Get free report)

Banner Corporation is the bank holding company for Banner Bank, which is engaged in providing commercial banking and financial products and services to individuals, corporations, and public sector entities in the United States. It accepts a variety of 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.

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