Banner Co. (NASDAQ:BANR) Receives $61.60 Average Price Target from Analysts

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

BANR has been the topic of a number of recent research reports. Janney Montgomery Scott lowered shares of Banner from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th. DA Davidson boosted their target price on shares of Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Stephens reiterated an “overweight” rating and issued a $53.00 target price on shares of Banner in a report on Thursday, July 18th. Piper Sandler set a $67.00 target price on shares of Banner in a report on Thursday, October 17th. Finally, Raymond James boosted their target price on shares of Banner from $62.00 to $65.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd.

Banner Stock Up 2.4 %

BANR stock opened at $73.23 on Tuesday. Banner has a one year low of $41.92 and a one year high of $75.88. 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 firm’s fifty day moving average is $61.87 and its 200 day moving average is $54.55. The firm has a market cap of $2.52 billion, a PE ratio of 15.32 and a beta of 1.04.

Banner (NASDAQ:BANR) last released its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.12. The company had revenue of $213.90 million during the quarter, compared to analysts’ expectations of $152.95 million. Banner had a net margin of 20.28% and a return on equity of 10.22%. During the same quarter in the previous year, the company earned $1.43 earnings per share. On average, research analysts forecast that Banner will post 4.88 EPS for the current year.

Banner Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Tuesday, November 5th will be paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Tuesday, November 5th. Banner’s dividend payout ratio is presently 40.17%.

Insider Transactions at Banner

In other news, VP James P.G. Mclean sold 1,500 shares of the 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 directly owns 21,868 shares of the company’s stock, valued at approximately $1,653,876.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.60% of the company’s stock.

Institutional Investors Weigh In On Banner

A number of large investors have recently bought and sold shares of BANR. Foundry Partners LLC raised its position in shares of Banner by 2.3% in the 3rd quarter. Foundry Partners LLC now owns 6,194 shares of the financial services provider’s stock worth $369,000 after buying an additional 137 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Banner by 1.8% in the 2nd quarter. Louisiana State Employees Retirement System now owns 17,300 shares of the financial services provider’s stock worth $859,000 after buying an additional 300 shares during the period. CWM LLC raised its position in shares of Banner by 19.5% in the 3rd quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock worth $136,000 after buying an additional 371 shares during the period. Texas Permanent School Fund Corp raised its position in shares of Banner by 1.3% in 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 buying an additional 389 shares during the period. Finally, ProShare Advisors LLC raised its position in shares of Banner by 7.4% in the 1st quarter. ProShare Advisors LLC now owns 6,906 shares of the financial services provider’s stock worth $331,000 after buying an additional 475 shares during the period. Institutional investors and hedge funds own 87.33% of the company’s stock.

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.