Raymond James Raises Banner (NASDAQ:BANR) Price Target to $65.00

by · The Markets Daily

Banner (NASDAQ:BANR – Get Free Report) had its price objective increased by stock analysts at Raymond James from $62.00 to $65.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price target suggests a potential upside of 10.88% from the stock’s previous close.

BANR has been the subject of a number of other reports. Stephens reaffirmed an “overweight” rating and set a $53.00 price objective on shares of Banner in a research note on Thursday, July 18th. StockNews.com lowered Banner from a “hold” rating to a “sell” rating in a research report on Saturday, June 8th. Janney Montgomery Scott downgraded shares of Banner from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Finally, Piper Sandler boosted their price objective on shares of Banner from $51.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, Banner currently has a consensus rating of “Hold” and an average target price of $56.80.

View Our Latest Analysis on BANR

Banner Stock Performance

Banner stock opened at $58.62 on Wednesday. Banner has a 1 year low of $39.31 and a 1 year high of $61.77. The company’s 50-day moving average is $57.56 and its two-hundred day moving average is $51.06. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.43. The company has a market cap of $2.02 billion, a PE ratio of 12.19 and a beta of 1.05.

Banner (NASDAQ:BANR – Get Free Report) last announced its quarterly earnings data on Wednesday, July 17th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.03. Banner had a net margin of 20.93% and a return on equity of 10.89%. The firm had revenue of $149.75 million for the quarter, compared to analysts’ expectations of $149.66 million. Equities analysts anticipate that Banner will post 4.71 earnings per share for the current year.

Institutional Trading of Banner

Large investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System boosted its holdings in shares of Banner by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the financial services provider’s stock valued at $859,000 after buying an additional 300 shares during the period. Diversified Trust Co increased its holdings in Banner by 3.9% during the 1st quarter. Diversified Trust Co now owns 9,906 shares of the financial services provider’s stock worth $475,000 after purchasing an additional 371 shares in the last quarter. Comerica Bank raised its stake in shares of Banner by 2.2% in the 4th quarter. Comerica Bank now owns 18,004 shares of the financial services provider’s stock valued at $964,000 after purchasing an additional 380 shares during the period. Texas Permanent School Fund Corp raised its stake in shares of Banner by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 30,061 shares of the financial services provider’s stock valued at $1,443,000 after purchasing an additional 389 shares during the period. Finally, ProShare Advisors LLC lifted its holdings in shares of Banner by 7.4% in the first quarter. ProShare Advisors LLC now owns 6,906 shares of the financial services provider’s stock valued at $331,000 after purchasing an additional 475 shares in the last quarter. 87.33% of the stock is owned by institutional investors.

About Banner

(Get Free Report)

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.

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