Brokerages Set Banner Co. (NASDAQ:BANR) Price Target at $74.20

Shares of Banner Co. (NASDAQ:BANR) have received an average rating of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $74.20.

A number of equities analysts have recently weighed in on BANR shares. Keefe, Bruyette & Woods increased their target price on Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 4th. DA Davidson raised their price target on shares of Banner from $73.00 to $76.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Finally, Stephens restated an “overweight” rating and set a $82.00 target price on shares of Banner in a research report on Thursday, January 23rd.

Banner Stock Up 0.2 %

Shares of NASDAQ:BANR opened at $68.66 on Thursday. The company has a quick ratio of 0.85, a current ratio of 0.86 and a debt-to-equity ratio of 0.32. The company’s 50-day moving average price is $69.03 and its two-hundred day moving average price is $65.18. Banner has a 12 month low of $42.00 and a 12 month high of $78.05. The firm has a market cap of $2.37 billion, a P/E ratio of 14.07 and a beta of 1.09.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.22 by $0.11. Banner had a return on equity of 10.03% and a net margin of 20.28%. As a group, research analysts forecast that Banner will post 5.22 EPS for the current fiscal year.

Banner Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.80%. The ex-dividend date of this dividend was Tuesday, February 4th. Banner’s payout ratio is 39.34%.

Institutional Trading of Banner

Hedge funds have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings 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 worth $79,219,000 after acquiring an additional 43,398 shares during the last quarter. Geode Capital Management LLC raised its position in Banner by 1.5% during the 3rd quarter. Geode Capital Management LLC now owns 823,763 shares of the financial services provider’s stock worth $49,073,000 after purchasing an additional 11,808 shares during the last quarter. Versor Investments LP acquired a new position in Banner during the 3rd quarter worth about $439,000. JPMorgan Chase & Co. increased its stake in shares of Banner by 7.7% in the third quarter. JPMorgan Chase & Co. now owns 409,885 shares of the financial services provider’s stock valued at $24,413,000 after buying an additional 29,174 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Banner by 12.2% during 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 acquiring an additional 193,434 shares during the last quarter. 87.33% of the stock is owned by institutional investors and hedge funds.

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.