Analysts Set Banner Co. (NASDAQ:BANR) PT at $56.80

Shares of Banner Co. (NASDAQ:BANR) have been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $56.80.

BANR has been the subject of several analyst reports. Stephens reaffirmed an “overweight” rating and set a $53.00 price objective on shares of Banner in a research note on Thursday, July 18th. Raymond James increased their price target on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Piper Sandler boosted their price objective on shares of Banner from $51.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 19th. Finally, Janney Montgomery Scott downgraded shares of Banner from a “buy” rating to a “neutral” rating in a research report on Friday, July 19th.

Institutional Trading of Banner

Large investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in shares of Banner by 18.4% in the 2nd 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 last quarter. American Century Companies Inc. raised its holdings in Banner by 22.0% during the 2nd quarter. American Century Companies Inc. now owns 607,769 shares of the financial services provider’s stock worth $30,170,000 after buying an additional 109,457 shares during the period. Edgestream Partners L.P. purchased a new stake in Banner during the first quarter valued at about $4,931,000. Stieven Capital Advisors L.P. boosted its holdings in shares of Banner by 35.5% in the first quarter. Stieven Capital Advisors L.P. now owns 197,556 shares of the financial services provider’s stock worth $9,483,000 after buying an additional 51,800 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Banner by 1.0% in the fourth quarter. Vanguard Group Inc. now owns 4,187,837 shares of the financial services provider’s stock worth $224,301,000 after acquiring an additional 40,988 shares in the last quarter. 87.33% of the stock is currently owned by institutional investors and hedge funds.

Banner Stock Up 1.2 %

Shares of NASDAQ BANR opened at $65.08 on Friday. Banner has a 52-week low of $39.31 and a 52-week high of $66.62. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.43. The company’s 50-day simple moving average is $58.22 and its 200-day simple moving average is $51.98. The firm has a market cap of $2.24 billion, a price-to-earnings ratio of 13.53 and a beta of 1.05.

Banner (NASDAQ:BANR) last released its earnings results on Wednesday, July 17th. The financial services provider reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $1.14 by $0.03. The business had revenue of $149.75 million for the quarter, compared to analyst estimates of $149.66 million. Banner had a net margin of 20.93% and a return on equity of 10.89%. Equities analysts predict that Banner will post 4.71 EPS for the current fiscal year.

Banner Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 16th. Shareholders of record on Tuesday, August 6th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend was Tuesday, August 6th. Banner’s payout ratio is 39.92%.

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.