Banner (NASDAQ:BANR) Coverage Initiated by Analysts at StockNews.com

Posted by on Oct 6th, 2023

Research analysts at StockNews.com assumed coverage on shares of Banner (NASDAQ:BANR – Get Free Report) in a research note issued on Thursday. The brokerage set a “sell” rating on the financial services provider’s stock.

Several other analysts have also issued reports on BANR. Raymond James dropped their target price on Banner from $58.00 to $50.00 and set an “outperform” rating on the stock in a report on Friday, July 21st. Stephens reissued an “overweight” rating and set a $53.00 price target on shares of Banner in a research report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $60.40.

Check Out Our Latest Stock Report on Banner

Banner Stock Performance

BANR opened at $43.00 on Thursday. Banner has a 52-week low of $40.69 and a 52-week high of $75.72. The firm has a market capitalization of $1.48 billion, a PE ratio of 7.45 and a beta of 1.01. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.80 and a current ratio of 0.81. The business’s 50-day simple moving average is $44.20 and its 200 day simple moving average is $46.51.

Banner (NASDAQ:BANR – Get Free Report) last released its earnings results on Wednesday, July 19th. The financial services provider reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.24). Banner had a return on equity of 14.40% and a net margin of 28.30%. The company had revenue of $150.94 million for the quarter, compared to the consensus estimate of $167.26 million. As a group, sell-side analysts expect that Banner will post 5.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Banner

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. grew its position in shares of Banner by 1.5% in the first quarter. BlackRock Inc. now owns 5,045,063 shares of the financial services provider’s stock valued at $295,288,000 after purchasing an additional 72,304 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Banner by 1.9% in the first quarter. Vanguard Group Inc. now owns 3,854,556 shares of the financial services provider’s stock valued at $225,607,000 after purchasing an additional 71,559 shares during the last quarter. State Street Corp grew its position in shares of Banner by 7.4% in the first quarter. State Street Corp now owns 1,821,229 shares of the financial services provider’s stock valued at $106,597,000 after purchasing an additional 124,919 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Banner by 4.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 924,108 shares of the financial services provider’s stock valued at $40,356,000 after purchasing an additional 42,269 shares during the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Banner by 7.5% in the second quarter. Nuveen Asset Management LLC now owns 891,606 shares of the financial services provider’s stock valued at $38,936,000 after purchasing an additional 62,356 shares during the last quarter. Institutional investors and hedge funds own 84.88% of the company’s stock.

About Banner

(Get Free Report)

Banner Corporation operates as the bank holding company for Banner Bank that provide 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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