Keefe, Bruyette & Woods Increases Banner (NASDAQ:BANR) Price Target to $81.00

Banner (NASDAQ:BANR) had its target price boosted by analysts at Keefe, Bruyette & Woods from $69.00 to $81.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 10.16% from the company’s previous close.

Other analysts have also recently issued reports about the stock. DA Davidson lifted their target price on shares of Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Raymond James lifted their price objective on Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Piper Sandler set a $67.00 target price on Banner in a research report on Thursday, October 17th. 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $67.00.

Banner Stock Performance

Banner stock opened at $73.53 on Wednesday. Banner has a fifty-two week low of $42.00 and a fifty-two week high of $78.05. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 15.38 and a beta of 1.07. The stock has a fifty day moving average of $67.78 and a two-hundred day moving average of $58.27. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85.

Banner (NASDAQ:BANR) last announced its earnings results on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.12. The firm had revenue of $213.90 million during the quarter, compared to the consensus estimate of $152.95 million. Banner had a net margin of 20.28% and a return on equity of 10.22%. During the same quarter in the previous year, the company posted $1.43 EPS. On average, analysts anticipate that Banner will post 4.88 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, VP James P.G. Mclean sold 1,500 shares of Banner stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $75.63, for a total transaction of $113,445.00. Following the transaction, the vice president now owns 21,868 shares in the company, valued at approximately $1,653,876.84. The trade was a 6.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.60% of the stock is currently owned by insiders.

Institutional Trading of Banner

Large investors have recently added to or reduced their stakes in the stock. Innealta Capital LLC purchased a new stake in shares of Banner during the second quarter valued at approximately $53,000. US Bancorp DE increased its stake in Banner by 287.1% during the 3rd quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock worth $86,000 after buying an additional 1,065 shares during the period. CWM LLC lifted its holdings in Banner by 60.1% in the 2nd quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock worth $94,000 after buying an additional 715 shares in the last quarter. Quest Partners LLC acquired a new position in Banner in the 2nd quarter worth $152,000. Finally, Clear Creek Financial Management LLC purchased a new position in Banner in the 3rd quarter valued at about $209,000. 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.