Analysts Set Banner Co. (NASDAQ:BANR) Target Price at $61.60

Shares of Banner Co. (NASDAQ:BANR) have been assigned a consensus rating of “Moderate Buy” from the six analysts that are presently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $67.00.

A number of research analysts have recently commented on the stock. DA Davidson upped their price target on shares of Banner from $60.00 to $69.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. 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 research note on Wednesday, October 2nd. Piper Sandler set a $67.00 target price on shares of Banner in a research report on Thursday, October 17th. Finally, Keefe, Bruyette & Woods boosted their price target on Banner from $69.00 to $81.00 and gave the company a “market perform” rating in a report on Wednesday.

Insider Buying and Selling

In other Banner news, VP James P.G. Mclean sold 1,500 shares of the firm’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 value of $113,445.00. Following the completion of the sale, the vice president now directly owns 21,868 shares in the company, valued at $1,653,876.84. This trade represents a 6.42 % decrease in their ownership of the stock. The sale 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 company insiders.

Institutional Trading of Banner

Hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. raised its stake 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 valued at $79,132,000 after buying an additional 588,591 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Banner by 12.2% in the 3rd quarter. Wellington Management Group LLP now owns 1,785,319 shares of the financial services provider’s stock valued at $106,334,000 after purchasing an additional 193,434 shares during the last quarter. FMR LLC boosted its stake in Banner by 395.4% in the 3rd quarter. FMR LLC now owns 166,120 shares of the financial services provider’s stock worth $9,894,000 after purchasing an additional 132,586 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in Banner by 18.4% during 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 purchasing an additional 123,903 shares during the last quarter. Finally, American Century Companies Inc. increased its stake 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 valued at $30,170,000 after purchasing an additional 109,457 shares in the last quarter. Hedge funds and other institutional investors own 87.33% of the company’s stock.

Banner Stock Up 1.5 %

Shares of NASDAQ BANR opened at $74.42 on Friday. The company has a market cap of $2.56 billion, a P/E ratio of 15.57 and a beta of 1.07. The firm has a 50-day simple moving average of $67.50 and a two-hundred day simple moving average of $58.16. Banner has a 1 year low of $42.00 and a 1 year high of $78.05. 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 posted its quarterly earnings data on Wednesday, October 16th. The financial services provider reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.12. Banner had a return on equity of 10.22% and a net margin of 20.28%. The company had revenue of $213.90 million during the quarter, compared to analysts’ expectations of $152.95 million. During the same quarter in the previous year, the business earned $1.43 EPS. Research analysts anticipate that Banner will post 4.88 earnings per share for the current year.

Banner Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Stockholders of record on Tuesday, November 5th were issued a $0.48 dividend. The ex-dividend date was Tuesday, November 5th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.58%. Banner’s dividend payout ratio is presently 40.17%.

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.