Banner Co. to Post Q3 2024 Earnings of $1.18 Per Share, DA Davidson Forecasts (NASDAQ:BANR)

Banner Co. (NASDAQ:BANR) – DA Davidson issued their Q3 2024 earnings estimates for Banner in a report released on Monday, July 22nd. DA Davidson analyst J. Rulis expects that the financial services provider will earn $1.18 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $47.00 target price on the stock. The consensus estimate for Banner’s current full-year earnings is $4.70 per share. DA Davidson also issued estimates for Banner’s FY2025 earnings at $4.80 EPS.

Other equities analysts also recently issued reports about the stock. Stephens reissued an “overweight” rating and issued a $53.00 price target on shares of Banner in a research note on Thursday, July 18th. Piper Sandler increased their price target on shares of Banner from $51.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 19th. StockNews.com downgraded shares of Banner from a “hold” rating to a “sell” rating in a research note on Saturday, June 8th. Finally, Janney Montgomery Scott downgraded shares of Banner from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. One 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.com, Banner has a consensus rating of “Hold” and a consensus target price of $54.00.

Banner Stock Performance

Shares of NASDAQ:BANR opened at $58.51 on Tuesday. The company has a market cap of $2.02 billion, a price-to-earnings ratio of 12.16 and a beta of 1.06. The company has a 50-day moving average price of $49.00 and a 200-day moving average price of $47.18. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.43. Banner has a 12 month low of $39.31 and a 12 month high of $61.34.

Banner Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 3.28%. 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 hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC grew its holdings in Banner by 19.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,535 shares of the financial services provider’s stock worth $82,000 after purchasing an additional 245 shares during the period. Louisiana State Employees Retirement System grew its holdings in shares of Banner by 1.8% during 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 last quarter. Diversified Trust Co grew its holdings in shares of Banner by 3.9% during the first quarter. Diversified Trust Co now owns 9,906 shares of the financial services provider’s stock valued at $475,000 after buying an additional 371 shares during the last quarter. CWM LLC grew its holdings in shares of Banner by 49.9% during the fourth 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 during the last quarter. Finally, Comerica Bank grew its holdings in shares of Banner by 2.2% during the fourth quarter. Comerica Bank now owns 18,004 shares of the financial services provider’s stock valued at $964,000 after buying an additional 380 shares during the last quarter. Hedge funds and other 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.