Banner Co. (NASDAQ:BANR) Receives Average Rating of “Moderate Buy” from Analysts

Shares of Banner Co. (NASDAQ:BANR) have earned an average recommendation of “Moderate Buy” from the six brokerages that are covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $67.00.

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

Insider Transactions at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of the firm’s stock in a transaction 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 sale, the vice president now owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. This trade represents a 6.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Banner

A number of hedge funds and other institutional investors have recently made changes to their positions in BANR. Innealta Capital LLC bought a new position in shares of Banner during the second quarter worth about $53,000. US Bancorp DE grew its stake in shares of Banner by 287.1% during the 3rd quarter. US Bancorp DE now owns 1,436 shares of the financial services provider’s stock worth $86,000 after acquiring an additional 1,065 shares in the last quarter. CWM LLC raised its holdings in shares of Banner by 19.5% in the third quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock valued at $136,000 after purchasing an additional 371 shares during the last quarter. Quest Partners LLC bought a new stake in shares of Banner in the second quarter worth $152,000. Finally, Clear Creek Financial Management LLC acquired a new position in Banner during the third quarter worth $209,000. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Banner Price Performance

Banner stock opened at $66.86 on Wednesday. Banner has a 52 week low of $42.00 and a 52 week high of $78.05. The firm has a market cap of $2.30 billion, a P/E ratio of 13.99 and a beta of 1.07. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.84 and a current ratio of 0.85. The business’s fifty day moving average is $70.38 and its two-hundred day moving average is $61.10.

Banner (NASDAQ:BANR) last posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, beating 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 firm had revenue of $213.90 million during the quarter, compared to analysts’ expectations of $152.95 million. During the same quarter last year, the company posted $1.43 EPS. Equities research analysts forecast that Banner will post 4.88 earnings per share for the current fiscal year.

Banner Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.87%. The ex-dividend date was Tuesday, November 5th. Banner’s payout ratio is 40.17%.

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.