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

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

A number of research analysts have recently weighed in on the company. DA Davidson increased their price target on Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Piper Sandler set a $67.00 target price on Banner in a research note on Thursday, October 17th. Janney Montgomery Scott lowered Banner from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. Stephens reaffirmed an “overweight” rating and issued a $53.00 price target on shares of Banner in a research note on Thursday, July 18th. Finally, Raymond James lifted their price objective 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.

Insider Activity at Banner

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 21,868 shares in the company, valued at approximately $1,653,876.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Banner

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BANR. Louisiana State Employees Retirement System lifted its holdings 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 valued at $859,000 after purchasing an additional 300 shares in the last quarter. CWM LLC lifted its stake in Banner by 19.5% in the 3rd quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock valued at $136,000 after acquiring an additional 371 shares in the last quarter. Texas Permanent School Fund Corp boosted its position in Banner by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 30,061 shares of the financial services provider’s stock worth $1,443,000 after acquiring an additional 389 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Banner by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 6,906 shares of the financial services provider’s stock worth $331,000 after acquiring an additional 475 shares in the last quarter. Finally, Diversified Trust Co grew its stake in shares of Banner by 4.8% during the 2nd quarter. Diversified Trust Co now owns 10,382 shares of the financial services provider’s stock worth $515,000 after acquiring an additional 476 shares in the last quarter. 87.33% of the stock is owned by institutional investors and hedge funds.

Banner Price Performance

Shares of BANR stock opened at $71.52 on Tuesday. The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 15.14 and a beta of 1.04. Banner has a 12 month low of $41.92 and a 12 month high of $75.88. The company has a quick ratio of 0.84, a current ratio of 0.85 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average price of $61.35 and a 200 day moving average price of $54.23.

Banner (NASDAQ:BANR) last issued its quarterly earnings results on Wednesday, October 16th. The financial services provider reported $1.30 EPS for the quarter, topping the consensus estimate of $1.18 by $0.12. Banner had a net margin of 20.28% and a return on equity of 10.22%. The company had revenue of $213.90 million during the quarter, compared to analysts’ expectations of $152.95 million. During the same quarter in the previous year, the company earned $1.43 EPS. Research analysts expect that Banner will post 4.82 EPS for the current year.

Banner Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date of this dividend is 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.