Banner Co. (NASDAQ:BANR) Receives $67.00 Consensus PT from Analysts

Banner Co. (NASDAQ:BANR) has received a consensus rating of “Moderate Buy” from the six research firms that are currently covering the firm, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year target price among brokers that have covered the stock in the last year is $67.00.

A number of equities analysts recently issued reports on BANR shares. Piper Sandler set a $67.00 price objective on shares of Banner in a report on Thursday, October 17th. Raymond James lifted their price target on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Keefe, Bruyette & Woods boosted their price objective on shares of Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a research report on Wednesday, December 4th. Finally, DA Davidson raised their target price on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 18th.

Insiders Place Their Bets

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

Institutional Trading of Banner

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Louisiana State Employees Retirement System lifted its position in shares of Banner by 1.8% in the second quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the financial services provider’s stock worth $859,000 after buying an additional 300 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Banner by 2.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 432,402 shares of the financial services provider’s stock valued at $21,464,000 after acquiring an additional 11,278 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Banner by 4.4% in the second quarter. Allspring Global Investments Holdings LLC now owns 144,809 shares of the financial services provider’s stock valued at $7,188,000 after purchasing an additional 6,159 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Banner by 38.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,608 shares of the financial services provider’s stock worth $328,000 after purchasing an additional 1,830 shares during the last quarter. Finally, Panagora Asset Management Inc. raised its stake in Banner by 2.7% during the second quarter. Panagora Asset Management Inc. now owns 203,759 shares of the financial services provider’s stock valued at $10,115,000 after purchasing an additional 5,380 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors.

Banner Price Performance

Shares of BANR opened at $66.86 on Wednesday. The firm has a fifty day simple moving average of $70.38 and a two-hundred day simple moving average of $60.89. The firm has a market cap of $2.30 billion, a PE ratio of 13.99 and a beta of 1.07. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30. Banner has a 1-year low of $42.00 and a 1-year high of $78.05.

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

Banner Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Tuesday, November 5th. Banner’s dividend payout ratio is currently 40.17%.

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.