Banner Co. (NASDAQ:BANR) Receives $61.60 Average PT from Analysts

Banner Co. (NASDAQ:BANR) has been assigned an average recommendation of “Moderate Buy” from the six ratings firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $61.60.

A number of equities analysts recently commented on BANR shares. Raymond James lifted their price target on Banner from $62.00 to $65.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. DA Davidson lifted 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. Piper Sandler set a $67.00 target price on Banner in a research note on Thursday, October 17th. Stephens restated an “overweight” rating and issued a $53.00 target price on shares of Banner in a research note on Thursday, July 18th. Finally, Janney Montgomery Scott downgraded Banner from a “buy” rating to a “neutral” rating in a research note on Friday, July 19th.

Insider Activity

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now owns 21,868 shares of the company’s stock, valued at $1,653,876.84. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.60% of the stock is currently owned by corporate insiders.

Institutional Trading of Banner

Several large investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP grew its stake in Banner by 1.6% during the second quarter. Dimensional Fund Advisors LP now owns 2,361,774 shares of the financial services provider’s stock worth $117,236,000 after buying an additional 37,780 shares during the last quarter. Victory Capital Management Inc. raised its holdings in Banner by 79.5% in the third quarter. Victory Capital Management Inc. now owns 1,328,616 shares of the financial services provider’s stock worth $79,132,000 after purchasing an additional 588,591 shares during the period. The Manufacturers Life Insurance Company lifted its position in 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 valued at $39,510,000 after acquiring an additional 123,903 shares in the last quarter. Westwood Holdings Group Inc. lifted its position in Banner by 3.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 717,058 shares of the financial services provider’s stock valued at $34,419,000 after acquiring an additional 25,525 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in Banner by 22.0% in the 2nd quarter. American Century Companies Inc. now owns 607,769 shares of the financial services provider’s stock valued at $30,170,000 after acquiring an additional 109,457 shares in the last quarter. 87.33% of the stock is owned by institutional investors.

Banner Trading Up 2.4 %

NASDAQ:BANR opened at $73.23 on Tuesday. The business’s 50-day moving average is $61.87 and its two-hundred day moving average is $54.55. 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 has a 12 month low of $41.92 and a 12 month high of $75.88. The firm has a market capitalization of $2.52 billion, a PE ratio of 15.32 and a beta of 1.04.

Banner (NASDAQ:BANR) last announced its 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 during the quarter, compared to the consensus estimate of $152.95 million. Banner had a return on equity of 10.22% and a net margin of 20.28%. During the same period last year, the firm earned $1.43 earnings per share. Research analysts predict that Banner will post 4.88 earnings per share for the current fiscal year.

Banner Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.62%. The ex-dividend date of this dividend is 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.