Banner (NASDAQ:BANR) Rating Increased to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Banner (NASDAQ:BANR) from a sell rating to a hold rating in a research report sent to investors on Saturday morning.

A number of other analysts have also recently weighed in on BANR. Piper Sandler restated a “neutral” rating and issued a $70.00 price target on shares of Banner in a research note on Monday, December 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Banner in a report on Wednesday, January 21st. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $71.17.

Banner Trading Down 4.7%

NASDAQ BANR opened at $58.85 on Friday. Banner has a 52 week low of $54.01 and a 52 week high of $69.83. The firm has a 50 day moving average of $63.59 and a two-hundred day moving average of $63.99. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.17. The stock has a market capitalization of $2.01 billion, a PE ratio of 10.43 and a beta of 0.90.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, January 21st. The financial services provider reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.09. The business had revenue of $169.90 million for the quarter, compared to analyst estimates of $173.23 million. Banner had a net margin of 22.26% and a return on equity of 10.46%. As a group, research analysts expect that Banner will post 5.23 EPS for the current fiscal year.

Banner Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 13th. Shareholders of record on Tuesday, February 3rd were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, February 3rd. This represents a $2.00 annualized dividend and a yield of 3.4%. Banner’s payout ratio is 35.46%.

Hedge Funds Weigh In On Banner

A number of institutional investors have recently modified their holdings of the business. Kemnay Advisory Services Inc. purchased a new stake in Banner in the 4th quarter valued at $31,000. Financial Life Planners acquired a new position in Banner in the third quarter valued at $32,000. Aquatic Capital Management LLC purchased a new stake in shares of Banner in the third quarter valued at about $36,000. EverSource Wealth Advisors LLC purchased a new stake in shares of Banner in the second quarter valued at about $45,000. Finally, Lodestone Wealth Management LLC acquired a new stake in shares of Banner during the fourth quarter worth about $66,000. 87.33% of the stock is owned by institutional investors and hedge funds.

Banner Company Profile

Banner Corporation, through its principal subsidiary Banner Bank, operates as a regional commercial bank headquartered in Walla Walla, Washington. Founded in 2000 as a bank holding company, Banner traces its origins to community banking roots in Eastern Washington dating back to the late 19th century. Over the past two decades, the company has grown through both organic expansion and strategic acquisitions, establishing a strong presence throughout the Pacific Northwest.

The company offers a comprehensive suite of financial products and services for individual and business clients.