Banner (NASDAQ:BANR – Get Rating) had its price target raised by investment analysts Piper Sandler to $65.00 in a research note released on Friday, Stock Target Advisor reports. Piper Sandler’s price target suggests a potential upside of 11.45% from the stock’s previous close.
A number of other equity research analysts have also weighed in on BANR recently. Janney Montgomery Scott moved Banner shares from a “neutral” rating to a “buy” rating and set a price target of $68.00 on the stock in a Tuesday, June 28 research note. Raymond James cut his price target on Banner shares from $70.00 to $65.00 and set a “Strong Buy” rating on the stock in a Thursday, July 7 research note. StockNews.com took on Banner’s coverage in a Thursday, March 31 report. They set a “hold” rating for the company. Finally, Stephens downgraded Banner from an “equal weight” rating to an “overweight” rating and raised its price target for the company from $66.00 to $67.00 in a Friday, June 17 report. . Two research analysts gave the stock a hold rating, two gave the stock a buy rating and one gave the stock a high buy rating. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $65.00.
Banner Stock Performance
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Banner shares traded down $0.94 in the midday session on Friday, hitting $58.32. The company had a trading volume of 162,987 shares, compared to an average volume of 179,168. The company’s 50-day simple moving average is $56.82 and its two-hundred-day simple moving average is 56, $19. The stock has a market capitalization of $2.00 billion, a PE ratio of 10.53 and a beta of 0.99. The company has a debt ratio of 0.28, a current ratio of 0.78 and a quick ratio of 0.78. Banner has a 1-year low of $50.02 and a 1-year high of $66.79.
Banner (NASDAQ:BANR – Get Rating) last reported quarterly earnings data on Wednesday, July 20. The financial services provider reported earnings per share (EPS) of $1.39 for the quarter, beating the consensus estimate of $1.22 by $0.17. Banner had a net margin of 31.19% and a return on equity of 11.84%. During the same period of the previous year, the company achieved EPS of $1.56. As a group, equity analysts predict Banner will post 5.34 EPS for the current fiscal year.
Banner Insider Activity
In other news, Director Roberto R. Herencia acquired 1,800 shares in a transaction that took place on Monday, May 2. The shares were purchased at an average cost of $54.73 per share, for a total transaction of $98,514.00. Following completion of the transaction, the administrator now directly owns 8,628 shares of the company, valued at $472,210.44. The purchase was disclosed in a legal filing with the SEC, which is available on the SEC’s website. 1.46% of the shares are currently held by insiders of the company.
Institutional banner trade
A number of hedge funds and other institutional investors have recently increased or reduced their stakes in the company. TENOR CAPITAL MANAGEMENT Co. LP acquired a new position in Banner stock during Q4 worth approximately $14,494,000. Saba Capital Management LP acquired a new position in Banner stock during Q4 worth approximately $7,438,000. Taconic Capital Advisors LP acquired a new position in Banner stock during Q4 worth approximately $6,100,000. Wellington Management Group LLP acquired a new position in shares of Banner during Q1 worth approximately $20,165,000. Finally, Cubist Systematic Strategies LLC acquired a new position in Banner stock during Q4 worth approximately $3,207,000. 85.00% of the shares are currently held by institutional investors and hedge funds.
About the banner
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Banner Corporation operates as a bank holding company for Banner Bank which provides 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 cash management services and savings plans. pension saving.
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