Raymond James has adjusted its price target for Banner Corp. (BANR, Financial), reducing it from $77 to $65. The investment firm continues to assign an Outperform rating to the stock despite the revision. This decision comes in light of decreasing industry valuations, as noted in a recent analyst report.
The report highlighted that Banner Corp. delivered solid financial results for the first quarter. The company’s robust deposit base and prudent business strategy stand out, offering stability in the face of current market volatility. Despite challenges in the broader economic environment, Banner's consistent performance makes it an attractive option for investors, according to the analysis.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 6 analysts, the average target price for Banner Corp (BANR, Financial) is $70.00 with a high estimate of $73.00 and a low estimate of $65.00. The average target implies an upside of 15.72% from the current price of $60.49. More detailed estimate data can be found on the Banner Corp (BANR) Forecast page.
Based on the consensus recommendation from 6 brokerage firms, Banner Corp's (BANR, Financial) average brokerage recommendation is currently 2.3, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for Banner Corp (BANR, Financial) in one year is $57.43, suggesting a downside of 5.06% from the current price of $60.49. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the Banner Corp (BANR) Summary page.