DA Davidson Increases Banner (NASDAQ:BANR) Price Target to $69.00

Banner (NASDAQ:BANR - Get Free Report) had its price target lifted by equities researchers at DA Davidson from $60.00 to $69.00 in a research report issued to clients and investors on Friday, MarketBeat.com reports. The brokerage presently has a "neutral" rating on the financial services provider's stock. DA Davidson's price target would indicate a potential upside of 3.37% from the stock's current price.

Several other research analysts have also recently weighed in on the stock. Raymond James boosted their price objective on shares of Banner from $62.00 to $65.00 and gave the company an "outperform" rating in a report on Wednesday, October 2nd. Janney Montgomery Scott downgraded Banner from a "buy" rating to a "neutral" rating in a research note on Friday, July 19th. Piper Sandler upped their price objective on Banner from $51.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, July 19th. Finally, Stephens reissued an "overweight" rating and issued a $53.00 target price on shares of Banner in a research report on Thursday, July 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $61.60.

Banner Stock Down 1.7 %

NASDAQ BANR traded down $1.18 during mid-day trading on Friday, reaching $66.75. The stock had a trading volume of 264,412 shares, compared to its average volume of 197,244. The stock has a market cap of $2.30 billion, a PE ratio of 13.85 and a beta of 1.05. Banner has a 1 year low of $39.31 and a 1 year high of $68.11. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.85 and a quick ratio of 0.85. The company has a fifty day moving average price of $58.76 and a 200 day moving average price of $52.18.

Banner (NASDAQ:BANR - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.12. Banner had a return on equity of 10.89% and a net margin of 20.93%. The firm had revenue of $213.90 million for the quarter, compared to the consensus estimate of $152.95 million. During the same period in the prior year, the company posted $1.43 earnings per share. On average, research analysts expect that Banner will post 4.71 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. EntryPoint Capital LLC raised its holdings in Banner by 100.9% during the first quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider's stock valued at $53,000 after acquiring an additional 558 shares during the period. Innealta Capital LLC purchased a new position in Banner in the 2nd quarter worth approximately $53,000. CWM LLC boosted 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 worth $94,000 after purchasing an additional 715 shares during the period. Quest Partners LLC purchased a new stake in Banner during the 2nd quarter valued at approximately $152,000. Finally, SG Americas Securities LLC bought a new stake in shares of Banner during the first quarter valued at approximately $202,000. Hedge funds and other institutional investors 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.