Banner (NASDAQ:BANR) Downgraded by Janney Montgomery Scott to “Neutral”

Janney Montgomery Scott downgraded shares of Banner (NASDAQ:BANR) from a buy rating to a neutral rating in a research report released on Friday, Marketbeat.com reports.

Several other research analysts have also recently commented on the stock. Stephens restated an overweight rating and issued a $53.00 target price on shares of Banner in a research report on Thursday. StockNews.com lowered Banner from a hold rating to a sell rating in a report on Saturday, June 8th. Piper Sandler cut their target price on Banner from $54.00 to $51.00 and set an overweight rating on the stock in a research note on Friday, April 19th. Finally, DA Davidson reduced their price target 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 stock. According to data from MarketBeat.com, the stock presently has an average rating of Hold and a consensus target price of $54.00.

Banner Stock Performance

BANR stock opened at $58.16 on Friday. The stock’s fifty day moving average is $48.25 and its two-hundred day moving average is $46.97. The stock has a market capitalization of $2.00 billion, a price-to-earnings ratio of 12.09 and a beta of 1.06. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.82 and a current ratio of 0.85. Banner has a 1 year low of $39.31 and a 1 year high of $61.34.

Banner Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th will be given a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.92 dividend on an annualized basis and a yield of 3.30%. Banner’s dividend payout ratio (DPR) is 39.92%.

Hedge Funds Weigh In On Banner

Several hedge funds have recently modified their holdings of BANR. Victory Capital Management Inc. lifted its holdings in shares of Banner by 247.2% in the fourth quarter. Victory Capital Management Inc. now owns 641,701 shares of the financial services provider’s stock valued at $34,370,000 after buying an additional 456,868 shares during the period. Norges Bank bought a new stake in Banner in the fourth quarter worth about $12,097,000. Hsbc Holdings PLC lifted its holdings in Banner by 2,700.2% in the 4th quarter. Hsbc Holdings PLC now owns 221,243 shares of the financial services provider’s stock valued at $11,861,000 after acquiring an additional 213,342 shares during the last quarter. Channing Capital Management LLC bought a new position in shares of Banner during the 4th quarter valued at about $8,293,000. Finally, Edgestream Partners L.P. acquired a new position in shares of Banner in the 1st quarter worth approximately $4,931,000. 87.33% of the stock is currently owned by institutional investors and hedge funds.

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.