Brokerages Set Banner Co. (NASDAQ:BANR) Target Price at $61.60

Shares of Banner Co. (NASDAQ:BANR) have been assigned an average rating of “Moderate Buy” from the six analysts that are currently covering the firm, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $61.60.

Several research firms recently issued reports on BANR. Raymond James upped their target price on Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. DA Davidson upped their target price on Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, Piper Sandler set a $67.00 target price on Banner in a research report on Thursday, October 17th.

Insiders Place Their Bets

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total transaction of $113,445.00. Following the sale, the vice president now directly owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.60% of the stock is owned by insiders.

Institutional Investors Weigh In On Banner

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BANR. Victory Capital Management Inc. grew its position in Banner by 79.5% during the 3rd quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock worth $79,132,000 after purchasing an additional 588,591 shares during the period. Wellington Management Group LLP boosted its stake in shares of Banner by 12.2% during the 3rd quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock worth $106,334,000 after acquiring an additional 193,434 shares in the last quarter. FMR LLC boosted its stake in shares of Banner by 395.4% during the 3rd quarter. FMR LLC now owns 166,120 shares of the financial services provider’s stock worth $9,894,000 after acquiring an additional 132,586 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Banner by 18.4% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 795,929 shares of the financial services provider’s stock worth $39,510,000 after acquiring an additional 123,903 shares in the last quarter. Finally, American Century Companies Inc. boosted its stake in shares of Banner by 22.0% during the 2nd quarter. American Century Companies Inc. now owns 607,769 shares of the financial services provider’s stock worth $30,170,000 after acquiring an additional 109,457 shares in the last quarter. 87.33% of the stock is owned by institutional investors and hedge funds.

Banner Stock Performance

Shares of BANR opened at $74.43 on Friday. Banner has a 12 month low of $42.00 and a 12 month high of $78.05. The stock has a fifty day moving average price of $66.64 and a 200-day moving average price of $57.67. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. The firm has a market cap of $2.56 billion, a PE ratio of 15.57 and a beta of 1.04.

Banner (NASDAQ:BANR) last issued its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, beating the consensus estimate of $1.18 by $0.12. Banner had a return on equity of 10.22% and a net margin of 20.28%. The firm had revenue of $213.90 million during the quarter, compared to analyst estimates of $152.95 million. During the same quarter in the prior year, the business posted $1.43 EPS. Equities research analysts predict that Banner will post 4.88 earnings per share for the current fiscal year.

Banner Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.58%. The ex-dividend date was Tuesday, November 5th. Banner’s dividend payout ratio is currently 40.17%.

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.