Banner’s (BANR) Overweight Rating Reiterated at Stephens

Banner (NASDAQ:BANR)‘s stock had its “overweight” rating reissued by Stephens in a research report issued on Thursday,Benzinga reports. They presently have a $82.00 price target on the financial services provider’s stock. Stephens’ target price indicates a potential upside of 17.97% from the stock’s previous close.

Several other research analysts also recently weighed in on BANR. Raymond James upped their target price on shares of Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. DA Davidson increased their target price on Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Keefe, Bruyette & Woods boosted their price target on Banner from $69.00 to $81.00 and gave the stock a “market perform” rating in a report on Wednesday, December 4th. Finally, Piper Sandler set a $67.00 price objective on shares of Banner in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $74.20.

Banner Trading Down 1.1 %

NASDAQ:BANR opened at $69.51 on Thursday. Banner has a one year low of $42.00 and a one year high of $78.05. The business has a fifty day moving average price of $70.36 and a 200-day moving average price of $63.60. The firm has a market capitalization of $2.40 billion, a price-to-earnings ratio of 14.24 and a beta of 1.09. 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 issued its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.11. Banner had a return on equity of 10.11% and a net margin of 20.28%. Sell-side analysts forecast that Banner will post 4.89 EPS for the current year.

Insider Buying and Selling

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the business’s 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 sale, the vice president now directly owns 21,868 shares of the company’s stock, valued at $1,653,876.84. The trade was a 6.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.60% of the stock is currently owned by company insiders.

Institutional Trading of Banner

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Renaissance Technologies LLC grew its position in Banner by 223.1% in the 2nd quarter. Renaissance Technologies LLC now owns 54,599 shares of the financial services provider’s stock valued at $2,710,000 after acquiring an additional 37,700 shares during the last quarter. Intech Investment Management LLC bought a new position in Banner in the 2nd quarter worth about $394,000. Public Sector Pension Investment Board lifted its holdings in shares of Banner by 7.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 75,787 shares of the financial services provider’s stock worth $3,762,000 after buying an additional 5,378 shares during the period. AQR Capital Management LLC raised its holdings in shares of Banner by 113.8% in the second quarter. AQR Capital Management LLC now owns 71,915 shares of the financial services provider’s stock valued at $3,570,000 after acquiring an additional 38,273 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Banner by 18.4% in the second quarter. The Manufacturers Life Insurance Company now owns 795,929 shares of the financial services provider’s stock worth $39,510,000 after acquiring an additional 123,903 shares during the period. Hedge funds and other institutional investors 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.