Banner (NASDAQ:BANR) Price Target Raised to $76.00

Banner (NASDAQ:BANR) had its target price boosted by DA Davidson from $73.00 to $76.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a neutral rating on the financial services provider’s stock. DA Davidson also issued estimates for Banner’s FY2025 earnings at $5.40 EPS.

Other equities analysts have also recently issued research reports about the stock. Piper Sandler set a $67.00 target price on shares of Banner in a research note on Thursday, October 17th. Keefe, Bruyette & Woods raised their price objective 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 upped their target price on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Stephens reiterated an “overweight” rating and set a $82.00 price target on shares of Banner in a research report on Thursday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Banner presently has a consensus rating of “Hold” and an average price target of $74.20.

Banner Stock Performance

BANR opened at $69.51 on Friday. Banner has a twelve month low of $42.00 and a twelve month high of $78.05. The stock has a market cap of $2.40 billion, a PE ratio of 14.24 and a beta of 1.09. The business’s 50 day moving average is $70.28 and its 200-day moving average is $63.86. The company has a current ratio of 0.85, a quick ratio of 0.84 and a debt-to-equity ratio of 0.30.

Banner (NASDAQ:BANR) last announced its quarterly earnings results on Wednesday, January 22nd. The financial services provider reported $1.33 earnings per share (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%. On average, analysts predict that Banner will post 4.89 earnings per share for the current year.

Banner Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 14th. Stockholders of record on Tuesday, February 4th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Tuesday, February 4th. Banner’s dividend payout ratio is 39.34%.

Insider Activity at Banner

In other 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 shares were 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 in the company, valued at $1,653,876.84. The trade was a 6.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Banner

Several institutional investors and hedge funds have recently added to or reduced their stakes in BANR. Foundry Partners LLC lifted its holdings in shares of Banner by 2.3% in the third quarter. Foundry Partners LLC now owns 6,194 shares of the financial services provider’s stock valued at $369,000 after purchasing an additional 137 shares in the last quarter. Captrust Financial Advisors raised its position in Banner by 3.0% during the third quarter. Captrust Financial Advisors now owns 5,443 shares of the financial services provider’s stock valued at $324,000 after buying an additional 160 shares during the period. CWM LLC lifted its stake in 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 acquiring an additional 371 shares in the last quarter. USA Financial Formulas acquired a new stake in Banner during the 4th quarter worth about $32,000. Finally, Financial Life Planners purchased a new position in Banner during the 4th quarter valued at about $32,000. 87.33% of the stock is currently owned by hedge funds and other institutional investors.

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.