Brokerages Set Banner Co. (NASDAQ:BANR) Target Price at $67.00

Shares of Banner Co. (NASDAQ:BANR) have received an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the company, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $67.00.

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

Insider Activity

In other 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 value of $113,445.00. Following the completion of the sale, the vice president now owns 21,868 shares in the company, valued at $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 is available through this link. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Banner

Several hedge funds have recently modified their holdings of BANR. USA Financial Formulas acquired a new stake in Banner in the 4th quarter valued at $32,000. Diversified Trust Co grew its position in Banner by 9.6% in the 4th quarter. Diversified Trust Co now owns 11,211 shares of the financial services provider’s stock valued at $749,000 after purchasing an additional 978 shares during the period. JPMorgan Chase & Co. grew its position in Banner by 7.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 409,885 shares of the financial services provider’s stock valued at $24,413,000 after purchasing an additional 29,174 shares during the period. Geode Capital Management LLC grew its position in Banner by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 823,763 shares of the financial services provider’s stock valued at $49,073,000 after purchasing an additional 11,808 shares during the period. Finally, Barclays PLC grew its position in Banner by 97.4% in the 3rd quarter. Barclays PLC now owns 75,768 shares of the financial services provider’s stock valued at $4,512,000 after purchasing an additional 37,390 shares during the period. Institutional investors own 87.33% of the company’s stock.

Banner Stock Up 0.8 %

Shares of NASDAQ BANR opened at $70.67 on Friday. The company has a 50 day simple moving average of $70.57 and a 200 day simple moving average of $63.35. The firm has a market cap of $2.44 billion, a PE ratio of 14.78 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 current ratio of 0.85 and a quick ratio of 0.84.

Banner Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were issued a dividend of $0.48 per share. The ex-dividend date was Tuesday, November 5th. This represents a $1.92 annualized dividend and a yield of 2.72%. Banner’s payout ratio is 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.