Piper Sandler Raises Banner (NASDAQ:BANR) Price Target to $65.00

Banner (NASDAQ:BANR) had its price objective hoisted by Piper Sandler from $51.00 to $65.00 in a report issued on Friday, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

BANR has been the subject of several other reports. StockNews.com lowered Banner from a hold rating to a sell rating in a research report on Saturday, June 8th. Stephens reiterated an overweight rating and issued a $53.00 price objective on shares of Banner in a research report on Thursday, July 18th. Janney Montgomery Scott lowered Banner from a buy rating to a neutral rating in a research report on Friday. Finally, DA Davidson decreased their price objective on Banner from $50.00 to $47.00 and set a neutral rating for the company in a research report on Friday, April 19th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus target price of $54.00.

Banner Stock Performance

Banner stock opened at $59.15 on Friday. The stock has a 50-day simple moving average of $48.50 and a 200 day simple moving average of $47.03. The company has a quick ratio of 0.82, a current ratio of 0.85 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $2.04 billion, a price-to-earnings ratio of 12.30 and a beta of 1.06. Banner has a 12-month low of $39.31 and a 12-month high of $61.34.

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 16th. Investors of record on Tuesday, August 6th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend is Tuesday, August 6th. Banner’s dividend payout ratio (DPR) is presently 39.92%.

Institutional Investors Weigh In On Banner

A number of large investors have recently added to or reduced their stakes in BANR. TFO Wealth Partners LLC grew its holdings in Banner by 35,800.0% in the 4th quarter. TFO Wealth Partners LLC now owns 718 shares of the financial services provider’s stock valued at $38,000 after buying an additional 716 shares in the last quarter. EntryPoint Capital LLC grew its holdings in Banner by 100.9% in the 1st quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock valued at $53,000 after buying an additional 558 shares in the last quarter. CWM LLC grew its holdings in Banner by 49.9% in the 4th quarter. CWM LLC now owns 1,135 shares of the financial services provider’s stock valued at $61,000 after buying an additional 378 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Banner by 19.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,535 shares of the financial services provider’s stock valued at $82,000 after buying an additional 245 shares in the last quarter. Finally, TRUE Private Wealth Advisors acquired a new stake in shares of Banner during the 4th quarter worth $215,000. Institutional investors own 87.33% of the company’s stock.

About Banner

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.