Banner (NASDAQ:BANR) Price Target Cut to $53.00 by Analysts at Stephens

Banner (NASDAQ:BANR) had its price objective lowered by Stephens from $54.00 to $53.00 in a research report report published on Friday morning, Benzinga reports. Stephens currently has an overweight rating on the financial services provider’s stock.

BANR has been the subject of a number of other research reports. Raymond James raised their price objective on Banner from $47.00 to $51.00 and gave the stock an outperform rating in a research report on Monday, January 22nd. Keefe, Bruyette & Woods cut their price target on shares of Banner from $58.00 to $54.00 and set a market perform rating on the stock in a report on Monday, January 22nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and an average target price of $51.20.

Banner Stock Up 2.8 %

Shares of NASDAQ BANR opened at $44.94 on Friday. The company has a current ratio of 0.82, a quick ratio of 0.83 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.54 billion, a PE ratio of 9.34 and a beta of 1.03. The stock’s fifty day simple moving average is $45.36 and its two-hundred day simple moving average is $46.46. Banner has a 12-month low of $39.31 and a 12-month high of $55.66.

Banner (NASDAQ:BANR) last posted its quarterly earnings data on Thursday, January 18th. The financial services provider reported $1.34 earnings per share for the quarter, topping analysts’ consensus estimates of $1.31 by $0.03. The firm had revenue of $152.46 million during the quarter, compared to analysts’ expectations of $155.54 million. Banner had a return on equity of 11.47% and a net margin of 21.62%. As a group, analysts expect that Banner will post 4.64 EPS for the current fiscal year.

Banner Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 10th. Stockholders of record on Tuesday, April 30th will be given a dividend of $0.48 per share. The ex-dividend date is Monday, April 29th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.27%. Banner’s dividend payout ratio (DPR) is 39.92%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in BANR. Raymond James & Associates lifted its position in shares of Banner by 4.4% during the 1st quarter. Raymond James & Associates now owns 23,587 shares of the financial services provider’s stock valued at $1,381,000 after buying an additional 984 shares in the last quarter. Citigroup Inc. lifted its holdings in Banner by 9.9% in the 1st quarter. Citigroup Inc. now owns 30,752 shares of the financial services provider’s stock valued at $1,799,000 after purchasing an additional 2,768 shares in the last quarter. Bank of Montreal Can lifted its holdings in Banner by 2.3% in the 1st quarter. Bank of Montreal Can now owns 11,310 shares of the financial services provider’s stock valued at $697,000 after purchasing an additional 254 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Banner by 55.6% in the 1st quarter. MetLife Investment Management LLC now owns 18,699 shares of the financial services provider’s stock valued at $1,094,000 after purchasing an additional 6,682 shares in the last quarter. Finally, Rhumbline Advisers lifted its holdings in Banner by 0.5% in the 1st quarter. Rhumbline Advisers now owns 96,156 shares of the financial services provider’s stock valued at $5,628,000 after purchasing an additional 460 shares in the last quarter. 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.