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

Banner Co. (NASDAQ:BANR) has earned an average recommendation of “Moderate Buy” from the six brokerages that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $67.00.

Several equities research analysts have recently weighed in on BANR shares. Keefe, Bruyette & Woods increased their target price 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. Raymond James increased their price objective on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Piper Sandler set a $67.00 target price on Banner in a research report on Thursday, October 17th. Finally, DA Davidson upped their target price on Banner from $60.00 to $69.00 and gave the company a “neutral” rating in a research note on Friday, October 18th.

Banner Trading Down 1.9 %

Shares of BANR stock opened at $66.86 on Wednesday. The company has a market cap of $2.30 billion, a PE ratio of 13.99 and a beta of 1.07. Banner has a 1 year low of $42.00 and a 1 year high of $78.05. The stock’s 50 day simple moving average is $70.38 and its two-hundred day simple moving average is $60.89. 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 (NASDAQ:BANR) last released its quarterly earnings results 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. The company had revenue of $213.90 million for the quarter, compared to analyst estimates of $152.95 million. Banner had a return on equity of 10.22% and a net margin of 20.28%. During the same quarter in the prior year, the firm posted $1.43 EPS. Research analysts predict that Banner will post 4.88 earnings per share for the current year.

Banner Dividend Announcement

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

Insider Transactions at Banner

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

Institutional Trading of Banner

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

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.