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

Banner Co. (NASDAQ:BANR) has received a consensus rating 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 12 month target price among analysts that have issued a report on the stock in the last year is $67.00.

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

Insider Activity at Banner

In related news, VP James P.G. Mclean sold 1,500 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $75.63, for a total value of $113,445.00. Following the sale, the vice president now directly owns 21,868 shares in the company, valued at approximately $1,653,876.84. The trade was a 6.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 1.60% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Banner

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. USA Financial Formulas bought a new stake in Banner in the 4th quarter valued at about $32,000. US Bancorp DE increased its position in shares of 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 increased its position in shares of Banner by 19.5% during the third quarter. CWM LLC now owns 2,275 shares of the financial services provider’s stock valued at $136,000 after buying an additional 371 shares during the period. Clear Creek Financial Management LLC bought a new stake in shares of Banner during the third quarter valued at about $209,000. Finally, Princeton Capital Management LLC bought a new stake in shares of Banner during the third quarter valued at about $255,000. 87.33% of the stock is currently owned by institutional investors.

Banner Price Performance

BANR opened at $70.67 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 0.85 and a quick ratio of 0.84. The company has a market capitalization of $2.44 billion, a price-to-earnings ratio of 14.78 and a beta of 1.09. The firm’s fifty day moving average price is $70.57 and its two-hundred day moving average price is $63.35. Banner has a 1 year low of $42.00 and a 1 year high of $78.05.

Banner Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Tuesday, November 5th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date of this dividend was Tuesday, November 5th. Banner’s dividend payout ratio is currently 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.