Banner (NASDAQ:BANR) Price Target Raised to $76.00

Banner (NASDAQ:BANR) had its price target increased by DA Davidson from $73.00 to $76.00 in a report issued on Friday,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for Banner’s FY2025 earnings at $5.40 EPS.

A number of other research analysts have also recently commented on BANR. Raymond James boosted their price objective on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Piper Sandler set a $67.00 price target on Banner in a research report on Thursday, October 17th. Keefe, Bruyette & Woods increased 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, Stephens reissued an “overweight” rating and set a $82.00 target price on shares of Banner in a research report on Thursday. One equities 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 company’s stock. Based on data from MarketBeat.com, Banner has an average rating of “Hold” and a consensus target price of $74.20.

Banner Stock Down 1.1 %

Shares of NASDAQ:BANR opened at $69.51 on Friday. The stock has a 50-day simple moving average of $70.28 and a 200-day simple moving average of $63.86. The stock has a market capitalization of $2.40 billion, a P/E ratio of 14.24 and a beta of 1.09. Banner has a 1 year low of $42.00 and a 1 year high of $78.05. 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 released its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.11. Banner had a net margin of 20.28% and a return on equity of 10.11%. Equities analysts forecast that Banner will post 4.89 earnings per share for the current year.

Banner Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Investors of record on Tuesday, February 4th will be issued a $0.48 dividend. The ex-dividend date of this dividend is Tuesday, February 4th. This represents a $1.92 annualized dividend and a yield of 2.76%. Banner’s dividend payout ratio is presently 39.34%.

Insider Buying and Selling at Banner

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the company’s stock in a transaction that occurred on 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 owns 21,868 shares in the company, valued at $1,653,876.84. This represents a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Banner

Institutional investors have recently made changes to their positions in the company. USA Financial Formulas acquired a new position in Banner in the fourth quarter worth $32,000. Financial Life Planners acquired a new position in shares of Banner in the 4th quarter valued at about $32,000. US Bancorp DE grew its position in shares of Banner by 287.1% during the 3rd quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock valued at $86,000 after buying an additional 1,065 shares during the last quarter. KBC Group NV raised its stake in Banner by 46.0% during the fourth quarter. KBC Group NV now owns 1,656 shares of the financial services provider’s stock worth $111,000 after acquiring an additional 522 shares during the period. Finally, CWM LLC raised its stake in Banner by 19.5% during the third quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock worth $136,000 after acquiring an additional 371 shares during the period. 87.33% of the stock is currently owned by institutional investors.

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.