Stephens Reaffirms “Overweight” Rating for Banner (NASDAQ:BANR)

Banner (NASDAQ:BANR)‘s stock had its “overweight” rating reissued by investment analysts at Stephens in a research note issued on Thursday,Benzinga reports. They presently have a $82.00 target price on the financial services provider’s stock. Stephens’ target price indicates a potential upside of 17.97% from the company’s previous close.

Several other brokerages also recently commented on BANR. DA Davidson lifted their target price on shares of Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Keefe, Bruyette & Woods upped their price objective on shares of Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a research note on Wednesday, December 4th. Piper Sandler set a $67.00 target price on Banner in a research note on Thursday, October 17th. Finally, Raymond James increased their price objective on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $74.20.

Banner Trading Down 1.1 %

Shares of BANR opened at $69.51 on Thursday. 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 has a fifty-two week low of $42.00 and a fifty-two week high of $78.05. The firm has a 50 day moving average price of $70.36 and a 200-day moving average price of $63.60. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of 14.24 and a beta of 1.09.

Banner (NASDAQ:BANR) last announced its quarterly earnings data on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.22 by $0.11. Banner had a return on equity of 10.11% and a net margin of 20.28%. As a group, equities research analysts forecast that Banner will post 4.89 earnings per share for the current year.

Insider Buying and Selling at Banner

In related 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 stock was sold at an average price of $75.63, for a total transaction of $113,445.00. Following the completion of the transaction, the vice president now owns 21,868 shares of the company’s stock, valued at $1,653,876.84. This trade represents a 6.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.60% of the company’s stock.

Hedge Funds Weigh In On Banner

A number of hedge funds have recently bought and sold shares of the company. Wellington Management Group LLP raised its holdings in Banner by 12.2% in the third quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock worth $106,334,000 after buying an additional 193,434 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Banner by 3.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,330,064 shares of the financial services provider’s stock valued at $79,219,000 after purchasing an additional 43,398 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Banner by 79.5% in the 3rd quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock worth $79,132,000 after purchasing an additional 588,591 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Banner by 1.5% during the third 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 in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Banner by 18.4% during the second quarter. The Manufacturers Life Insurance Company now owns 795,929 shares of the financial services provider’s stock valued at $39,510,000 after purchasing an additional 123,903 shares in the last quarter. 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.