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 per share estimates for Banner in a note issued to investors 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.

A number of other equities research analysts also recently issued reports on the company. Piper Sandler increased their price target on Banner from $51.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th. StockNews.com downgraded Banner from a “hold” rating to a “sell” rating in a research report on Saturday, June 8th. Janney Montgomery Scott downgraded Banner from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Finally, Stephens reissued an “overweight” rating and set a $53.00 price target on shares of Banner in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $54.00.

Banner Trading Down 2.7 %

Shares of NASDAQ:BANR opened at $58.51 on Tuesday. The company has a market capitalization of $2.02 billion, a P/E ratio of 12.16 and a beta of 1.06. Banner has a 1 year low of $39.31 and a 1 year high of $61.34. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.85 and a quick ratio of 0.85. The business’s 50 day simple moving average is $49.00 and its 200 day simple moving average is $47.18.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Norges Bank bought a new position in shares of Banner in the 4th quarter valued at $12,097,000. Bridgeway Capital Management LLC lifted its stake in shares of Banner by 10.1% in the 4th quarter. Bridgeway Capital Management LLC now owns 262,413 shares of the financial services provider’s stock valued at $14,055,000 after acquiring an additional 24,008 shares during the last quarter. Channing Capital Management LLC bought a new position in shares of Banner in the 4th quarter valued at $8,293,000. Quest Partners LLC bought a new position in shares of Banner in the 4th quarter valued at $1,115,000. Finally, Hennessy Advisors Inc. lifted its stake in shares of Banner by 58.3% in the 1st quarter. Hennessy Advisors Inc. now owns 57,000 shares of the financial services provider’s stock valued at $2,736,000 after acquiring an additional 21,000 shares during the last quarter. 87.33% of the stock is currently owned by institutional investors.

Banner Dividend Announcement

The firm also recently announced 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 dividend yield of 3.28%. The ex-dividend date is Tuesday, August 6th. Banner’s dividend payout ratio is presently 39.92%.

Banner Company Profile

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.