Analysts Set Banner Co. (NASDAQ:BANR) Price Target at $56.80

Shares of Banner Co. (NASDAQ:BANR) have been given a consensus recommendation of “Moderate Buy” by the six analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $56.80.

Several analysts have recently weighed in on the company. Janney Montgomery Scott downgraded Banner from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th. Raymond James increased their price target on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Stephens reaffirmed an “overweight” rating and set a $53.00 price target on shares of Banner in a research report on Thursday, July 18th. Finally, Piper Sandler increased their price target on shares of Banner from $51.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, July 19th.

Banner Trading Up 5.2 %

Shares of BANR opened at $63.34 on Friday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $2.18 billion, a P/E ratio of 13.17 and a beta of 1.05. The stock’s fifty day simple moving average is $57.76 and its 200 day simple moving average is $51.74. Banner has a twelve month low of $39.31 and a twelve month high of $63.51.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.14 by $0.03. Banner had a return on equity of 10.89% and a net margin of 20.93%. The firm had revenue of $149.75 million during the quarter, compared to the consensus estimate of $149.66 million. On average, equities research analysts forecast that Banner will post 4.71 earnings per share for the current year.

Banner Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were issued a $0.48 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $1.92 dividend on an annualized basis and a yield of 3.03%. Banner’s dividend payout ratio is currently 39.92%.

Hedge Funds Weigh In On Banner

A number of large investors have recently bought and sold shares of BANR. Innealta Capital LLC bought a new stake in shares of Banner during the second quarter valued at approximately $53,000. EntryPoint Capital LLC raised its holdings in shares of Banner by 100.9% during the first quarter. EntryPoint Capital LLC now owns 1,111 shares of the financial services provider’s stock valued at $53,000 after buying an additional 558 shares during the last quarter. CWM LLC raised its holdings in shares of Banner by 60.1% during the second quarter. CWM LLC now owns 1,904 shares of the financial services provider’s stock valued at $94,000 after buying an additional 715 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Banner during the second quarter valued at approximately $152,000. Finally, SG Americas Securities LLC bought a new stake in shares of Banner during the first quarter valued at approximately $202,000. Institutional investors own 87.33% of the company’s stock.

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.