Banner (NASDAQ:BANR) Given "Outperform" Rating at Raymond James

Banner (NASDAQ:BANR - Get Free Report)'s stock had its "outperform" rating reiterated by stock analysts at Raymond James in a research note issued on Monday,Benzinga reports. They currently have a $65.00 price objective on the financial services provider's stock, down from their prior price objective of $77.00. Raymond James' price target would suggest a potential upside of 10.08% from the stock's current price.

BANR has been the subject of several other research reports. Stephens reaffirmed an "overweight" rating and issued a $82.00 price objective on shares of Banner in a report on Thursday, January 23rd. DA Davidson lifted their price target on Banner from $73.00 to $76.00 and gave the stock a "neutral" rating in a research note on Friday, January 24th. Janney Montgomery Scott upgraded shares of Banner from a "neutral" rating to a "buy" rating and set a $71.00 price objective on the stock in a research report on Monday. Finally, Keefe, Bruyette & Woods dropped their target price on Banner from $75.00 to $73.00 and set a "market perform" rating on the stock in a report on Monday. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Banner has an average rating of "Hold" and a consensus target price of $72.33.

Banner Stock Down 2.4 %

Shares of Banner stock traded down $1.44 during trading hours on Monday, hitting $59.05. 28,715 shares of the company's stock traded hands, compared to its average volume of 211,467. The company has a market cap of $2.04 billion, a PE ratio of 12.11 and a beta of 0.94. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. The stock has a 50 day simple moving average of $63.72 and a 200-day simple moving average of $67.16. Banner has a twelve month low of $43.63 and a twelve month high of $78.05.

Banner (NASDAQ:BANR - Get Free Report) last issued its earnings results on Wednesday, April 16th. The financial services provider reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $1.23 by $0.06. The company had revenue of $159.88 million during the quarter, compared to the consensus estimate of $159.72 million. Banner had a return on equity of 10.03% and a net margin of 20.28%. During the same period in the previous year, the firm posted $1.22 earnings per share. Equities research analysts anticipate that Banner will post 5.23 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Financial Life Planners bought a new stake in Banner during the 4th quarter worth approximately $32,000. USA Financial Formulas acquired a new stake in shares of Banner during the fourth quarter worth $32,000. Opal Wealth Advisors LLC bought a new stake in shares of Banner in the 1st quarter valued at about $34,000. Smartleaf Asset Management LLC increased its stake in Banner by 167.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 705 shares of the financial services provider's stock valued at $47,000 after purchasing an additional 441 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in Banner by 53.9% during the 1st quarter. GAMMA Investing LLC now owns 754 shares of the financial services provider's stock worth $48,000 after buying an additional 264 shares during the period. 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.

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